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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.
A kaizen process. Some successful implementations use the approach known as kaizen (the translation of kai ('change') zen ('good') is 'improvement'). This method became famous from Imai's 1986 book Kaizen: The Key to Japan's Competitive Success. [7] Key features of kaizen include:
The Air National Guard is the primary user of DSP.. The disruptive solutions process (DSP) is a decision-making process used by the United States Air Force and Air National Guard.
Every decision in the product development process affects cost: design is typically considered to account for 70–80% of the final cost of a project such as an engineering project [1] or the construction of a building. [2] In the public sector, cost reduction programs can be used where income is reduced or to reduce debt levels. [3]
Kaizen (Japanese: 改善, "improvement") is a concept referring to business activities that continuously improve all functions and involve all employees from the CEO to the assembly line workers. Kaizen also applies to processes, such as purchasing and logistics, that cross organizational boundaries into the supply chain. [1]
Mr. Imai’s sequel book on this subject, "Gembakaizen: A Commonsense, Low-cost Approach to Management", was published in 1997. This book uses relevant case studies to detail 21 practical kaizen management practices, including methodologies and tools to apply where the real action occurs.
Product cost management (PCM) is a set of tools, processes, methods, and culture used by firms who develop and manufacture products to ensure that a product meets its profit (or cost) target. Scope [ edit ]
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."