What is involved in Product Cost Management
Find out what the related areas are that Product Cost Management connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Product Cost Management thinking-frame.
How far is your company on its Product Cost Management journey?
Take this short survey to gauge your organization’s progress toward Product Cost Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Product Cost Management related domains to cover and 76 essential critical questions to check off in that domain.
The following domains are covered:
Product Cost Management, Cost engineering, Design for Six Sigma, Design for assembly, Design for manufacturability, Enterprise resource planning, Enterprise software, Manufacturing cost, Microsoft Excel, Pricing method, Product lifecycle management, Profit, Software category, Spend analysis, Spreadsheet, Supply chain management, Target costing, Total cost of acquisition, Total cost of ownership, Value engineering, Whole-life cost:
Product Cost Management Critical Criteria:
Discourse Product Cost Management tasks and innovate what needs to be done with Product Cost Management.
– Do you monitor the effectiveness of your Product Cost Management activities?
– Why is Product Cost Management important for you now?
– How can skill-level changes improve Product Cost Management?
Cost engineering Critical Criteria:
Deduce Cost engineering tasks and slay a dragon.
– Which customers cant participate in our Product Cost Management domain because they lack skills, wealth, or convenient access to existing solutions?
– How do we Improve Product Cost Management service perception, and satisfaction?
– Are there Product Cost Management problems defined?
Design for Six Sigma Critical Criteria:
Canvass Design for Six Sigma planning and suggest using storytelling to create more compelling Design for Six Sigma projects.
– what is the best design framework for Product Cost Management organization now that, in a post industrial-age if the top-down, command and control model is no longer relevant?
– At what point will vulnerability assessments be performed once Product Cost Management is put into production (e.g., ongoing Risk Management after implementation)?
Design for assembly Critical Criteria:
Air ideas re Design for assembly tasks and proactively manage Design for assembly risks.
– Does the Product Cost Management task fit the clients priorities?
– Have all basic functions of Product Cost Management been defined?
Design for manufacturability Critical Criteria:
Think about Design for manufacturability decisions and get going.
– Do Product Cost Management rules make a reasonable demand on a users capabilities?
– What business benefits will Product Cost Management goals deliver if achieved?
Enterprise resource planning Critical Criteria:
Discuss Enterprise resource planning results and differentiate in coordinating Enterprise resource planning.
– In a project to restructure Product Cost Management outcomes, which stakeholders would you involve?
– Do the Product Cost Management decisions we make today help people and the planet tomorrow?
– How can the value of Product Cost Management be defined?
Enterprise software Critical Criteria:
Reason over Enterprise software engagements and drive action.
– What do you think the world of enterprise software delivery will look like in ten to fifteen years (take into account practices, technology, and user experience)?
– What is the purpose of Product Cost Management in relation to the mission?
– Is there any existing Product Cost Management governance structure?
– Is your LMS integrated to your current enterprise software?
– How will you measure your Product Cost Management effectiveness?
Manufacturing cost Critical Criteria:
Revitalize Manufacturing cost strategies and look in other fields.
– What are our best practices for minimizing Product Cost Management project risk, while demonstrating incremental value and quick wins throughout the Product Cost Management project lifecycle?
– How will we insure seamless interoperability of Product Cost Management moving forward?
Microsoft Excel Critical Criteria:
Have a round table over Microsoft Excel risks and summarize a clear Microsoft Excel focus.
– Meeting the challenge: are missed Product Cost Management opportunities costing us money?
– What will drive Product Cost Management change?
– Why are Product Cost Management skills important?
Pricing method Critical Criteria:
Differentiate Pricing method results and acquire concise Pricing method education.
– What are the top 3 things at the forefront of our Product Cost Management agendas for the next 3 years?
– To what extent does management recognize Product Cost Management as a tool to increase the results?
Product lifecycle management Critical Criteria:
Check Product lifecycle management risks and spearhead techniques for implementing Product lifecycle management.
– In the case of a Product Cost Management project, the criteria for the audit derive from implementation objectives. an audit of a Product Cost Management project involves assessing whether the recommendations outlined for implementation have been met. in other words, can we track that any Product Cost Management project is implemented as planned, and is it working?
– How do we go about Comparing Product Cost Management approaches/solutions?
Profit Critical Criteria:
Explore Profit adoptions and question.
– Can we establish a new market segmentation strategy focused on potential profitability and willingness to purchase?
– Why should the capital budgeting process use cash flows instead of accounting profits?
– Which of my customers have the potential for a high-profit, sustainable relationship?
– How well the overall operations of the firm are managed (is it profitable?
– How is LTV calculated and how does it differ from ROI and profitability?
– How can we better deploy our employees to drive improved profit margins?
– To what extent is the profitability of the product certain?
– How can we measure profitablity for our customers?
– What do profitability ratios measure?
– Effect on category profits?
– Profit motive or altruism?
– Is gross profit holding?
Software category Critical Criteria:
Grade Software category failures and reduce Software category costs.
– What will be the consequences to the business (financial, reputation etc) if Product Cost Management does not go ahead or fails to deliver the objectives?
– Have you identified your Product Cost Management key performance indicators?
– Who will provide the final approval of Product Cost Management deliverables?
Spend analysis Critical Criteria:
Unify Spend analysis goals and reinforce and communicate particularly sensitive Spend analysis decisions.
– What are your current levels and trends in key measures or indicators of Product Cost Management product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– What vendors make products that address the Product Cost Management needs?
Spreadsheet Critical Criteria:
Transcribe Spreadsheet failures and document what potential Spreadsheet megatrends could make our business model obsolete.
– Can we describe the data architecture and relationship between key variables. for example, are data stored in a spreadsheet with one row for each person/entity, a relational database, or some other format?
– You may be using spreadsheets or other tools to track incidents, resolution times, and other data. How much time does it take to consolidate this information into meaningful reports?
– How do we make it meaningful in connecting Product Cost Management with what users do day-to-day?
– Are we Assessing Product Cost Management and Risk?
Supply chain management Critical Criteria:
Deliberate Supply chain management projects and question.
– Can we add value to the current Product Cost Management decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– Who is responsible for ensuring appropriate resources (time, people and money) are allocated to Product Cost Management?
– How do supply chain management systems coordinate planning, production, and logistics with suppliers?
– What makes cloud computing well suited for supply chain management applications?
– What is TESCM tax efficient supply chain management?
Target costing Critical Criteria:
Troubleshoot Target costing tasks and tour deciding if Target costing progress is made.
– Think about the kind of project structure that would be appropriate for your Product Cost Management project. should it be formal and complex, or can it be less formal and relatively simple?
Total cost of acquisition Critical Criteria:
Guard Total cost of acquisition risks and develop and take control of the Total cost of acquisition initiative.
– Which individuals, teams or departments will be involved in Product Cost Management?
– What are the business goals Product Cost Management is aiming to achieve?
Total cost of ownership Critical Criteria:
Study Total cost of ownership quality and adjust implementation of Total cost of ownership.
– For your Product Cost Management project, identify and describe the business environment. is there more than one layer to the business environment?
– What are internal and external Product Cost Management relations?
Value engineering Critical Criteria:
Consider Value engineering tactics and modify and define the unique characteristics of interactive Value engineering projects.
– Is a Product Cost Management Team Work effort in place?
Whole-life cost Critical Criteria:
Interpolate Whole-life cost risks and oversee Whole-life cost requirements.
– What are the record-keeping requirements of Product Cost Management activities?
– Does Product Cost Management appropriately measure and monitor risk?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Product Cost Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Product Cost Management External links:
Costimator® Product Cost Management Software Saves …
Product Cost Management – Gartner IT Glossary
Cost engineering External links:
Parametric Cost Engineering System Software (PACES)
Melville Cost Engineering
Design for Six Sigma External links:
Design for Six sigma (Book, 2003) [WorldCat.org]
[PDF]Design For Six Sigma (DFSS)
Design for assembly External links:
Design For Assembly – uggboot.store
[PDF]Design For Assembly – chinaview.store
Design For Assembly – massmoca.store
Design for manufacturability External links:
[PDF]Design For Manufacturability – Sheet Metal Guidelines
Design for Manufacturability (eBook, 2014) [WorldCat.org]
[PDF]Design For Manufacturability – yuanbao.store
Enterprise resource planning External links:
MDConnect | Enterprise Resource Planning (ERP) system
Enterprise Resource Planning
Enterprise Resource Planning System | Hill International
Enterprise software External links:
Provoke | Home | Enterprise Software Solutions
System Dashboard – Enterprise Software Development …
Medical Record Services & Enterprise Software for …
Manufacturing cost External links:
Manufacturing Cost Models for Estimating – MTI Systems
Manufacturing Cost/Financial Analyst – Rutter’s Farm …
Microsoft Excel External links:
Microsoft Excel Online – Work together on Excel …
Pricing method External links:
[PDF]Chapter 5 Transfer Pricing Methods
Product lifecycle management External links:
Omnify Software – Product Lifecycle Management (PLM) …
Agile Product Lifecycle Management
Agile Product Lifecycle Management – GENBAND
Software category External links:
USCutter – Sign Software Category
Software Category Types – Information Technology …
BNA Software – Software Category
Spend analysis External links:
U.S. Bank Spend Analysis / Annual Account Summary
Wipro Promax – Trade Spend Management And Trade Spend Analysis
Through a freight spend analysis, Freightquote is able to design custom pricing solutions and custom tarriffs to optimize your freight shipping spend.
U.S. Bank Spend Analysis / Annual Account Summary
Spreadsheet External links:
How to Put a Title on an Excel Spreadsheet | Chron.com
Untitled spreadsheet – Copy – Docs.com
Supply chain management External links:
St. Charles Trading, Inc. | Global Supply Chain Management
Logistics Supply Chain Management System
Logistics, Supply Chain Management and Order …
Target costing External links:
Target costing — AccountingTools
Literature on target costing – Home | Facebook
Target Costing – YouTube
Total cost of ownership External links:
[PDF]Total Cost of Ownership (TCO)
Fleet Total Cost of Ownership
[PDF]Total Cost Of Ownership – CohuHD Rugged HD …
Value engineering External links:
gbc engineers – Civil Structural Value Engineering Design
Value Engineering – Design – Federal Highway Administration
Category:130 Value Engineering – Engineering Policy …
Whole-life cost External links:
Whole-Life Cost – Investopedia