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Some practitioners of PCM are mostly concerned with the cost of the product up until the point that the customer takes delivery (e.g. manufacturing costs + logistics costs) or the total cost of acquisition. They seek to launch products that meet profit targets at launch rather than reducing the costs of a product after production.
Incorporation of "low-cost thinking" into an organisation's culture [5]: 8 Half cost strategies: ambitious strategies which aim to reduce the costs of specific production processes or value adding stages to 1/N of the previous cost. [7] Examples specifically focussed on the use of suppliers and the costs of goods and services supplied include:
Cost-plus pricing is a pricing strategy by which the selling price of a product is determined by adding a specific fixed percentage (a "markup") to the product's unit cost. Essentially, the markup percentage is a method of generating a particular desired rate of return.
Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products. Where products use common resources differently, some sort of weighting is needed in the cost allocation process. The cost driver is a factor that creates or drives the cost of the activity ...
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions.
Devised by Dr. Shigeo Shingo, the Shingo Model encompasses ten guiding principles for operational excellence.The Shingo Institute, an organization that awards the Shingo Prize, has identified "Ten Guiding Principles in the Shingo Model" as forming the basis for building a sustainable culture of organizational excellence: [10]
There is limited use of alternatives to retention in the British construction industry. [ 3 ] : 24 However, there have been recent movements to try to effect change. The Department for Business, Energy and Industrial Strategy (DBEIS) commissioned research into the matter to determine the extent of the use of the practice and its effects on the ...
In particular, a firm's ability to react to and plan for the influence of external factors on the returns management process is improved by such internal integration. [13] In a firm's planning for returns, a primary factor is the remaining value of the material returning and how to recover that value. [14] "Returned goods, or elements of the ...