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Lean manufacturing is a method of manufacturing goods aimed primarily at ... based system of manufacturing ... reduction 2.8 months 75% 75% Labor cost reduction ...
"Cycle time & cost reduction in a low volume manufacturing environment". MIT DSpace. hdl:1721.1/11020. Apichart Jearasatit. "Using a total landed cost model to foster global logistics strategy in the electronics industry". MIT DSpace. hdl:1721.1/60836. Bryan K. Parks. "Cost and lead time reduction in the manufacture of injection molding tools ...
Kaizen costing is a cost reduction system used a product's design has been completed and it is in production. [1] Business professor Yasuhiro Monden [2] defines kaizen costing as . The maintenance of present cost levels for products currently being manufactured via systematic efforts to achieve the desired cost level. [citation needed]
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."
Value engineering can lead to the substitution of lower-cost materials, as with the exterior cladding that accelerated the Grenfell Tower fire in London. [1] [2]Value engineering (VE) is a systematic analysis of the functions of various components and materials to lower the cost of goods, products and services with a tolerable loss of performance or functionality.
Agile Manufacturing is a modern production approach that enables companies to respond swiftly and flexibly to market changes while maintaining quality and cost control. This methodology is designed to create systems that can adapt dynamically to changing customer demands and external factors such as market trends or supply chain disruptions.
The potential of additive manufacturing is particularly high in the production of spare parts, since its introduction can reduce warehousing costs of slowly rotating spare parts. [131] Digitizing technology bears the potential to completely disrupt and restructure supply chains and enhance existing production routes.
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.