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DOCUMENT DESCRIPTION

There is a general belief among organizations that a large percentage of a product’s costs are locked in by design. It is assumed that little can be done once the design is set. This assumption has influenced Cost Management Programs across diverse products’ life cycles. As a result, the focus during the design phase is Cost Reduction and Cost Containment during manufacturing phase.

Yet, organizations that operated in highly competitive market and demanded aggressive Cost Management showed that costs can be aggressively managed throughout the Product Life Cycle. Various Cost Management Strategies or techniques may be used to increase the program’s overall effectiveness.

This framework provides a clear perspective of Integrated Cost Management and the 5 Cost Management Strategies that can serve as tools to effective Cost Management.

1. Target Costing
2. Product-specific Kaizen Costing
3. General Kaizen Costing
4. Functional Group Management
5. Product Offering

The 5 Cost Management Strategies must be integrated, with the outputs of some techniques acting as inputs to others to substantially reduce costs throughout the Product Life Cycle.

This deck also includes slide templates for you to use in your own business presentations

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Source: Integrated Cost Management PowerPoint document

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Integrated Cost Management

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This business document is categorized under:
Business Framework Primers

File Type: PowerPoint (pptx)

Tag(s): Cost Reduction, Cost Management, Kaizen

Number of Slides: 27

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Upload date (first version): Apr 13, 2020



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