5 Cost Management Strategies (PowerPoint PPTX Slide Deck)

DESCRIPTION

A commonly quoted statistics is that 80-95% of the cost of a product is determined by its design and is therefore set before the item enters Manufacturing. This assumption suggests that the dominant focus of Cost Management should be during Product Development and not during Manufacturing.

However, contrary to a widely held assumption, companies can integrate a variety of Cost Management techniques not only in the Design phase, but throughout the Product Lifecycle. This is to ensure that there is substantial reduction in costs. In fact, companies competing aggressively on cost might consider the adoption of some form of an Integrated Cost Management program that spans the entire Product Lifecycle.

This framework captures the 5 Cost Management Strategies that companies can use to reduce costs and still attain the desired level of functionality and quality at the target costs.

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

Each of the 5 Cost Management Strategies plays a crucial role in the company's integrated approach to Cost Management. These 5 Cost Management Strategies can be applied throughout the Product Lifecycle with 1 technique during Product Design and the rest during Manufacturing.

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

Gain a competitive edge by leveraging the detailed insights provided in this presentation. Dive deep into the nuances of each cost management strategy, understanding their specific objectives, focus areas, and applications. The deck elucidates how integration of these strategies can streamline processes, enhance efficiency, and drive significant cost reductions across the product lifecycle. Equip your team with actionable templates and frameworks to implement these strategies effectively, ensuring your organization remains agile and cost-competitive in today's dynamic market. This resource is essential for executives committed to optimizing cost structures without compromising on quality or functionality.

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Source: Best Practices in Cost Reduction, Cost Management, Kaizen, Product Lifecycle PowerPoint Slides: 5 Cost Management Strategies PowerPoint (PPTX) Presentation Slide Deck, LearnPPT Consulting