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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.
They seek to launch products that meet profit targets at launch rather than reducing the costs of a product after production. Other people believe that PCM extends to a total cost of ownership or lifecycle costing (Manufacturing + Logistics + operational costs + disposal). Depending on the practitioner, PCM may include any combination of ...
Manufacturing cost is the sum of costs of all resources consumed in the process of making a product. The manufacturing cost is classified into three categories: direct materials cost , direct labor cost and manufacturing overhead . [ 1 ]
A company's place on the matrix depends on two dimensions – the process structure/process lifecycle and the product structure/product lifecycles. [1] The process structure/process lifecycle is composed of the process choice (job shop, batch, assembly line, and continuous flow) and the process structure (jumbled flow, disconnected line flow, connected line flow and continuous flow). [1]
Simply stated, it is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service. This is accomplished through the application of cost engineering and cost management principles, proven methodologies and the latest technology in support of the management process. ...
Job costing (known by some as job order costing) is fundamental to managerial accounting. It differs from Process costing in that the flow of costs is tracked by job or batch instead of by process. job cost is done for one single product The distinction between job costing and process costing hinges on the nature of the product and, therefore, on the type of production process:
Like manufacturing industries, financial institutions have diverse products and customers, which can cause cross-product, cross-customer subsidies. Since personnel expenses represent the largest single component of non-interest expense in financial institutions, these costs must also be attributed more accurately to products and customers.
DFMA (also sometimes rendered as DfMA) is an acronym for design for manufacture and assembly.DFMA is the combination of two methodologies; design for manufacture, which means the design for ease of manufacture of the parts that will form a product, and design for assembly, which means the design of the product for ease of assembly deriving creative ideas at the same time.