The document discusses target costing, which is a cost management tool used to reduce product costs over the entire lifecycle. It involves cross-functional teams working to design products that meet customer needs within a target cost. The document outlines the target costing process and provides an example of how target costing was applied to reduce the costs of a pump design through value engineering and component cost analysis.
A customer-centric costing system that bases all cost workings for a product from its market price. The purpose is to reduce cost of a product as low as possible to arrive at a price that would be either equal to or less than that of competitors’ product while delivering the same functionality.
A customer-centric costing system that bases all cost workings for a product from its market price. The purpose is to reduce cost of a product as low as possible to arrive at a price that would be either equal to or less than that of competitors’ product while delivering the same functionality.
This PPT contains the full detail of topic leverage in financial management
it covers following topics :-
Meaning of Leverage
Types of Leverage
Operating Leverage
Financial Leverage
Difference between Operating & Financial Leverage
Combined Leverage
Illustrations
Exercise
A power point presentation describing some basic definitions, father of cost accounting, Indian aspect of cost accounting and Various Methods and Techniques of costing.
Presented by: Aquib Ali, Ajay Gupta and Ashwin Showi. (M.Com students)
at the Bhopal School of Social Sciences(BSSS) on 6 September, 2017
The Concept
ï‚ž A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas.
In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives
A firm pursues stability strategy when
1. It continues to serve the public in the same product or service, market, and function sectors as defined in its business definition.
2. Its main strategic decisions focus on incremental improvement of functional performance.
2. Corporate Restructuring is the process of redesigning one or more aspects of a company.
3. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self confidence of the corporation to move in an entirely new direction.
This PPT contains the full detail of topic leverage in financial management
it covers following topics :-
Meaning of Leverage
Types of Leverage
Operating Leverage
Financial Leverage
Difference between Operating & Financial Leverage
Combined Leverage
Illustrations
Exercise
A power point presentation describing some basic definitions, father of cost accounting, Indian aspect of cost accounting and Various Methods and Techniques of costing.
Presented by: Aquib Ali, Ajay Gupta and Ashwin Showi. (M.Com students)
at the Bhopal School of Social Sciences(BSSS) on 6 September, 2017
The Concept
ï‚ž A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas.
In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives
A firm pursues stability strategy when
1. It continues to serve the public in the same product or service, market, and function sectors as defined in its business definition.
2. Its main strategic decisions focus on incremental improvement of functional performance.
2. Corporate Restructuring is the process of redesigning one or more aspects of a company.
3. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self confidence of the corporation to move in an entirely new direction.
Coca-Cola North American, Escalate, ChatThreads and IMI led a discussion on how to measure ROI on marketing programs...even "below the line." Packed house so check it out!
LeanCOST is a software application for accurate and intuitive cost estimation of your products. It is directly interfaced with your CAD model files and helps designers, expert industrialists as well as sales departments in valuable cost estimation and management.
Social Benefit Analysis of Modern Wholesale MarketsKomal03
Â
This is a comprehensive research report comprising the quantification of social benefits offered by the terminal markets in India.
Activities for enhancing the value proposition of these markets from social perspective have been also been suggested.
The report was used by the company to present to the State Government Ministry of Agriculture and Ministry of Commerce to convince them the need for reversal and matching investment pattern for the Terminal Markets project.
The findings of the project became a part of the research paper presented at the annual conference of World Union Wholesale Market (WUWM), Paris.
"You can download this product from SlideTeam.net"
Plan and control the budget of the business by using the Cost Management PowerPoint Presentation Slides. Develop marketing capabilities, advertising, sponsorship, etc. with the help of project cost management PPT slideshow. Represent the cost of foregone alternatives with the help of the opportunity cost table. Determine all business expenses pertaining to the creation of company products by taking the assistance of products costing PPT visuals. Utilize our budgeting PowerPoint graphics and discuss all applicable costs, such as equipment and parts, materials and supplies, labor, financing, fees and licensing, transportation, and acquisition costs. Identify activities in an organization and assign the cost of each activity to all products and services by taking the assistance of the activity-based management PowerPoint layouts. You can also evaluate profits using the professionally designed financial management PPT slide deck. Thus, control the cost of your business project efficiently and strengthen the position of your firm by downloading our visually attention-grabbing project cost management PPT Presentation. https://bit.ly/3pb67nZ
This PPT deck displays sixty five slides with in depth research. Our Cost Management PowerPoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographics for an inclusive and comprehensive Cost Management PowerPoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement. http://bit.ly/378cCeY
This paper reviews and comments on the various considerations and approaches available to analysing and valuing disruption whilst comparing and contrasting the same with respect to the relative reliability of the methods of quantifying lost productivity and the cost and expertise generally required to record, prepare, and document the quantum of damages derived thereby.
Included within the paper is a framework from which the suitability of available approaches for analysing and quantifying the effects of disruption may be discerned. The selection process is primarily based on the availability of and the characteristics of that information available in connection with the project to be reviewed set against the degree of reliability associated with the method referenced.
About the Writer
Derek Nelson is Senior Vice President and Regional Managing Director in charge of Hill International's Asia Region. Derek has over 25 years of experience in the construction and engineering industries across both Asia and Europe. He specialises in the preparation, negotiation and settlement of construction claims, as well as dispute mitigation and avoidance. As a consultant, Derek has acted in arbitrations relating to construction, civil engineering and process engineering disputes.
Derek's academic and professional qualifications coupled with his extensive experience of the construction process has lead him to be appointed as an Independent Expert Witness in Litigation and Arbitration both in Europe and in Asia and he is often called upon to undertake independent reviews of projects in the role of Project Neutral.
Derek earned a BSc in Quantity Surveying from Edinburgh Napier University, and a Master of Laws in Construction Law from the University of Strathclyde and a Postgraduate Diploma in International Commercial Arbitration from London University.
About Hill International
Hill International, with 3,600 employees in 110 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States.
For more information on Hill, please visit our website at www.hillintl.com.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Â
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Top mailing list providers in the USA.pptxJeremyPeirce1
Â
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Understanding User Needs and Satisfying ThemAggregage
Â
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
Â
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Å tancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Â
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Â
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Â
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
2. Definition
Target Costing (TC) is defined as a cost management tool for reducing the
overall cost of product over its entire life cycle with the help of the
production, engineering, R&D…..
Intent of target costing
Reduction in cost
Planning & designing high quality products
Meeting customers needs
Using value engineering to target cost
Attain target cost using standard cost
TC which can enable attain desirable market share
3. Nature of Target Costing
Design
Type of Product
Cost
Technical Specification
Technical Requirements
Customers Needs
Market
Resource Consumption (Acq Price) Price
4. Target Costing
Price led Cross-functional
costing teams
Key
Life-cycle principles Value-chain
costs of target orientation
costing
Focus on Focus on
process product
design Focus design
on the
customer
5. Target costing-Methods
1. Subtraction Method
Based on competitors’ price, where the target cost is worked backwards from
the market price. The target result may represent a very rigorous target and may
be difficult to achieve.
2. Addition Method
Based on the existing technology and past cost data of the company. It is
achievable but ignores Market Conditions.
3 Integrated Method
Integration of Subtraction & Addition Methods
6. Steps in Target Costing-Summary
Value added
Product By each
Customer
Performance Feature &
Needs Features
Component
Choose a product Design
Choose With assured target profit
Choose Cost target for each
Manufacturing
Suppliers assuring component
Design assuring
Target cost
target costs
Monitor
Conduct VE to Product performance
Cost Review Reduce Target Costs Cost & Profit
Target Price
7. Achieving the Target Cost- Ex. Pump
EXHIBIT 1
CUSTOMER REQUIREMENT RANKINGS
Less Ranking More Raw % of Total Competitive
Customer Requirement Important Important Score Raw Score Comparison
1 2 3 4 5 1 2 3 4 5
Multiple speeds 4 4 14.8%
Horizontal oscillation 3 3 11.1%
Vertical oscillation 1 1 3.7%
Light weight 4 4 14.8%
Adjustable height 1 1 3.7%
Airflow capacity 4 4 14.8%
Quietness 5 5 18.5%
Compact size 3 3 11.1%
Looks nice 2 2 7.4%
Total 27 100%
Us
Competitor
Both
8. Achieving the Target Cost- Ex. Pump
EXHIBIT 2
COST GAP BREAKDOWN BY LIFE CYCLE AND VALUE CHAIN
Value Chain
Life Cycle Internal Costs External Costs Total Costs
Target Current Gap Target Current Gap Target Current Gap
Research and development $ 0.30 $ 0.50 $ 0.20 $ 0.30 $ 0.50 $ 0.20
Manufacturing 4.00 5.00 1.00 $ 13.00 $ 15.00 $ 2.00 17.00 20.00 3.00
Marketing and distribution 1.50 2.00 0.50 4.50 5.00 0.50 6.00 7.00 1.00
Service and support 0.25 0.50 0.25 0.25 0.50 0.25
General administration 0.75 1.00 0.25 0.75 1.00 0.25
Total $ 6.80 $ 9.00 $ 2.20 $ 17.50 $ 20.00 $ 2.50 $ 24.30 $ 29.00 $ 4.70
9. Achieving the Target Cost- Ex. Pump
EXHIBIT 3
COMPONENT COST BREAKDOWN
Percent of
Component Function Cost total cost
Motor Turns blade $ 8 40%
Transmission Provides oscillation capabilities 4 20%
Speed control/switch Controls blade speed 3 15%
Body Houses motor, transmission, speed control 2 10%
Blade Moves air 1 5%
Blade guard Protects blade from contacting objects 2 10%
Total $ 20 100%
11. Achieving the Target Cost- Ex. Pump
EXHIBIT 5
COMPONENT CONTRIBUTION TO CUSTOMER REQUIREMENTS
Components
Customer Requirements Speed Blade
Motor Transmission control Body Blade guard
Multiple speeds 40 X 14.8 = 5.92 60 X 14.8 = 8.88
Horizontal oscillation 80 X 11.1 = 8.88 20 X 11.1 = 2.22
Vertical oscillation 80 X 3.7 = 2.96 20 X 3.7 = 0.74
Light weight 70 X 14.8 = 10.36 10 X 14.8 = 1.48 20 X 14.8 = 2.96
Adjustable height 100 X 3.7 = 3.70
Airflow capacity 50 X 14.8 = 7.40 50 X 14.8 = 7.40
Quietness 40 X 18.5 = 7.40 60 X 18.5 = 11.10
Compact size 5 X 11.1 =0.56 5 X 11.1 =0.56 30 X 11.1 =3.33 30 X 11.1 =3.33 30 X 11.1 =3.33
Looks nice 50 X 7.4 = 3.70 50 X 7.4 = 3.70
Total contribution percentage 31.64% 13.88% 8.88% 16.65% 21.83% 7.03%
Contribution weight assigned to the component (Correlation) X Importance to the
customer (Raw Score from Exhibit 1)
12. Achieving the Target Cost- Ex. Pump
EXHIBIT 6
CALCULATION OF VALUE INDICES FOR COMPONENTS
Percent of Contribution
Component Total Cost Percentage Value Action
(Exhibit 3) (Exhibit 5) Index Implied
Motor 40% 31.64% 1.26 Reduce cost
Transmission 20% 13.88% 1.44 Reduce cost
Speed control 15% 8.88% 1.69 Reduce cost
Body 10% 16.65% 0.60 Improve
Blade 5% 21.83% 0.23 Improve
blade guard 10% 7.03% 1.42 Reduce cost
13. Make the Decision
Begin
Value engineering
Repeat Achieve
Yes No Close No
value target
enough?
engr.? cost?
Yes Yes
No
Abort
project
Release design
for production