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Design-to-Cost (DTC), as part of cost management techniques, describes a systematic approach to controlling the costs of product development and manufacturing.The basic idea is that costs are designed "into the product", even from the earliest concept decisions on and are difficult to remove later.
Target costing is defined as "a disciplined process for determining and achieving a full-stream cost at which a proposed product with specified functionality, performance, and quality must be produced in order to generate the desired profitability at the product’s anticipated selling price over a specified period of time in the future."
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Design to cost and design to standards serves cost reduction in production operations, or respectively supply chain operations. Except for luxury goods or brands (e.g., Swarovski crystals, Haute couture fashion, etc.), most goods, even exclusive products, rely on cost reduction , if these are mass produced .
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects.
In 2006, AACE published their Total Cost Management Framework – An Integrated Methodology for Portfolio, Program and Project Management. [2] In this tested and proven methodology, portfolios of assets are optimized through the use of portfolios of projects, using project management as a delivery system, to support and enhance large, strategic or operational programs [3] in support of the ...
Lionsgate is aiming to save a boatload of cash using generative AI technology as an assistive creative tool for filmmakers. Lionsgate, the film and TV studio behind film franchises including ...
The concept of design for inspection (DFI) should complement and work in collaboration with design for manufacturability (DFM) and design for assembly (DFA) to reduce product manufacturing cost and increase manufacturing practicality. There are instances when this method could cause calendar delays since it consumes many hours of additional ...