The strategic costmanagement in E-supply chain could quickly respond to customer need, and improve the competitive capacity by satisfying customer requirement. Under the quick-response objective guidance, every activity of each cycle in E-supply chain which could create value could help to add value to the product. In the e-commerce environment customers could login the company’s web-homepage to take part in product design and make some suggestions for product and sale service. The other one is competitive quick- response to make the company get competitive advantages in the long term. This competitive quick-response also is the main objective of strategic costmanagement, which determines that the system should be paying attention to the information of competitive opponents. Company should collect those information, such as pricing, cost, scale, and related information about market share ratio in order to analyze the competitive opponents. That external information is helpful for sensitivity analysis of sale price and adjusting the price in specific company, so that the company can increase the operation profit. Furthermore, some real time control decision can automatically make quick response to customers and competitive opponents by the system in accordance with pre-determined decision rules in the control application software.
U tržišnom okruženju poduzeće se nalazi pod utjecajem brojnih vanjskih i unutarnjih čimbenika na koje može utjecati većom ili manjom mjerom. Na vanjske čimbenike poput političkog i gospodarskog okruženja, tehnološkog napretka, konkurencije ili navike kupaca, poduzeće nema znatan utjecaj. Međutim, na unutarnje čimbenike koje definiramo kao prednosti ili slabosti poduzeća, menadžment ima utjecaj. Osnovni zadatak menadžmenta poduzeća ili poduzetnika jest prepoznati vlastitu prednost ili slabost, donijeti pravovremenu odluku i učinkovito ju provesti. Unutarnji čimbenici na koje poduzeće može utjecati su: imidž tvrtke, tehnologija, ustroj tvrtke, zaposlenici i financijske mogućnosti. Menadžment prati i nadzire sve navedeno, te donosi odluke koje bi trebale biti najbolje za daljnji uspješan nastavak poslovanja poduzeća. Pokazatelji tih odluka najbolje se očituju u usporedbi s konkurencijom kroz gospodarski rast i tržišni udio poduzeća. Uspješna poduzeća svoje troškove nastoje održavati na što nižoj razini, odnosno na razini troškova najbližih konkurenata. Razlike u troškovima između različitih poduzeća u istoj djelatnosti mogu nastati zbog velikog broja čimbenika, kao na primjer: razlike u cijenama sirovina i materijala, razlike u tehnološkom stupnju razvoja proizvodnje, razlike u unutarnjim proizvodnim troškovima koji ovise o veličini postrojenja, iskustvu zaposlenih, plaćama, osjetljivosti poduzeća na tečajne razlike itd. Zbog ovih razlika, došlo je do razvoja različitih metoda upravljanja troškovima, koje bi trebale dovesti do povećanja učinaka poduzeća ili do smanjenja troškova poduzeća. Upravljanje troškovima (CostManagement) poseban je način upravljanja poduzećem i vođenja poslovanja koji najveću važnost u postizanju organizacijskih ciljeva poklanja optimizaciji troškova. 49 Različiti modeli su se kroz povijest razvijali ovisno o potrebama rješavanja sve složenijih problema upravljanja troškovima uvjetovanih rastom poduzeća ali i rastom proizvodnog procesa unutar poduzeća. Nastanak brojnih metoda upravljanja troškovima, povezan je s razvojem informatičkih tehnologija od 70-ih godina prošlog stoljeća.
The respondents were asked to indicate the extent of their organization’s adoption of quality costmanagement, using a 5 point-scale ranging from 1 (strongly disagree) to 5 (to a strongly agree) for the organization’s objectives and ranging from 1 (least important) to 5 (most important) for organization strategy over the last five years. Besides, respondents were asked to choose one or more of the options offered to indicate their reason(s) for not measuring the quality cost, quality objectives, people involved in making quality specifications, methods used to detect quality problems and types of incentives provided to their employees who participated in quality improvement programs. Respondents were also asked to answer several open-ended questions.
Sponsors and investigator sites report that site contract negotiations are the number one cause of delay in study start-up. The Budget-to-Payment workflow supported by Medidata’s data assets and integrated technology is designed to ensure correlation between benchmark site budget values, contracted values and payment values to produce a closed-loop process for clinical investigator costmanagement and compliance risk mitigation.
TRM452 – PCM: Budget & CostManagement Page 8 of 11 1. Attend scheduled classes, arrive on-time and be prepared for class & participate. 2. Consider the application to your past and future work environments and expectations. 3. Complete all assigned readings, individual and group assignments.
This course will provide an understanding of both the tools and models that can be used throughout the design, development, and support phases of a system to conduct trade-offs between system performance and life-cycle cost (LCC). The students will be exposed to the methods, processes, and tools needed to conduct economic analysis, estimation, and management from a life cycle perspective of complex systems. The fundamentals of engineering economy and simulation based costing are presented to support economic analysis. Parametric cost estimation, the COCOMO family of models, off the shelve and open source, and bottoms up estimating are presented in support of economic estimation. Cost as an Independent Variable, cost of quality, and project management are all discussed to provide the students with an understanding of costmanagement from a LCC perspective.
successful cost manager must therefore have the ability to integrate and lead an accountancy team in an atmosphere of uncertainty. Effective leadership and sensitivity to human and design issues are vital as well as financial acuity. The discipline of costmanagement contin- ues to evolve and the Reading MSc in Construction CostManagement is at the forefront of these developments. A Masters degree without a career break
A BSTRACT : Cost is the universal and most highly visible performance metric for indicating proj- ect success. Cost is also the most competed for corporate resource. Cost is considered as a finite resource. As such, project management and project controls professionals must be willing to expend the effort and intelligence necessary to properly manage it. Costmanagement should be regarded as a process requiring the integration of separate discipline methodologies and the involvement of many persons who are both part of and external to the project team. Meaningful costmanagement requires thinking and acting outside the project. This implies that cost and benefits be considered in total and not limited to a project's capital budget, that organizational requirements be considered, and that the sometimes competing goals between projects and cor- porate entities be optimized and aligned. Effective costmanagement requires the implementa- tion of methodologies and steps that are repeatable from project to project and can be integrat- ed with organization goals. This article is reprinted from the 2005 AACE International Transactions where it was listed as CSC.11.
Thus, the proposed model, which is a log frame consistent implementation stages, taking into account adjustments and feedback allows making correct management decisions about costmanagement of an enterprise and quantify the various stages of the implementation of the chosen strategy. This will allow to tube-rolling enterprises operate more efficiently than its competitors.
The surveys conducted by Innes and Mitchell (1995) and Innes et.al. (2000) were significant in the sense that they focused on the differing areas of application of ABC in the UK’s largest companies. Findings of these surveys include the fact that costmanagement applications outweigh the product costing applications which were central to ABC’s initial development. The cost reduction and cost control applications of ABC are most popular among its users. ABC users claim that it can change behaviour in the organisations in a wide variety of ways through the impact of information which ABC generates for management decision-making.
Production cost and affordability of target beneficiaries are key considerations in LcH project delivery (McNelis, 2014). From the graph, whiles initial costs have remained almost constant from 2004 -2012 (4th -12th) year, which shows that the project cost allocations are rigid for each NDRP period (FMLHUD, 2012). Economic factors such as inflation are also inbuilt into the cost. This show that government on their part have strict budgets for these projects which the PMT are expected to take into consideration using effective project management approaches. However, studies show that time delay, fluctuations in material and labour prices, poor costmanagement systems, variations, construction waste and corruption to mention a few are many of the problems that led to costs overruns on these projects in these years (Akinde, 2012; Amade, et al., 2015). Since cost allocation projected for each LcH scheme in a period is almost at a constant, effective approaches for cost optimisation in LcH project delivery need to be adopted, to prevent the occurrence of poor cost performances. Such measures to address the issue of poor project cost performances is a viable means of improving LcH supply-side outcomes (Okonjo-Iweala, 2014; Gu et al., 2015). Following a recommendation by Ahiaga-Dagbui et al. (2015), a system thinking
Twenty-six respondents firms out of 53 are using activity-based costing for product pricing and operational feedback. Nearly 77% of the ABCM users firms are in the manufacturing sector and 23% in the service sector. This ABC adoption rate compared favourably with nearly 38% in India, 26% in the USA, 20% in UK and 40% in Norway. Nearly 58% of the ABCM users firms have fully integrated costmanagement and financial reporting systems with enterprise resource planning system. 57.69% of the respondents extended their ABC systems to advanced stage extending it up to facility level and customer level activities. Seventy-six percent users of the activity-based costing in Canadian firms have implemented the activity-based cost system as supplementary and offline (Armitage and Nicholson, 1993). The 42.3% of the ABC-user firms are using activity-based costing in their company for more than two years.
However, costmanagement has focussed mainly on commercial and social development and infrastructure of major cost significance through formal systems and procedures. Low Cost Housing is significant in terms of the aggregate cost of development and the overall benefit it brings to the society. The clients, stakeholders and promoters have limited access to formal procurement systems. This is responsible for the high incidence of informal systems used for low cost housing procurement in developing countries. As a result of this, low cost housing developments do not benefit adequately from the structured approach of the costmanagement discipline. The overall effect of costmanagement is to achieve value for money and even provide a greater number of houses.
Translation activity is a job of receiving and completing project offers. Some customers ask for the overall project cost at the beginning while others expect invoices at the end. Like Samuelsson- Brown(2006, p. 121) described, as price pressure reigns it is invariably the translator who offers the lowest price who will be offered the job. While there are good translators who will accept low prices, the risk is that customers will accept lower prices from less experienced translators. Costmanagement can serve as an important role in creating competitive translation rates in order to decrease the impact of “luxury translation” elements. The customer should understand the value of quality in translation and respect a reasonable higher translation price offered from translators with more experience.
management for Supply Chain best practices. The focus will be on identifying and reducing activities that add low/no value and to increase those that do add value. Attendees will explore how planning impacts the overall cost of execution. The various elements of a supply chain will be broken down and the linkages that increase or impede value adding will be described.
The Strategic CostManagement (SCM) is a matter of wide discussion among researchers because it is an overarching theme, which reaches all organizations, with significant impacts on the strategy. SCM has developed and expanded, without having reached a consensus on the practices referred to it. The main objective of this paper was to propose a set of categories on the SCM. To this end, we have carried out literature search to map terms related to SCM and thereby develop a set of categories and subcategories. It is perceived that there was no agreement among different authors on the practices that can be considered within the scope of this area. The initial categories were defined based on the key topics proposed by Shank and Govindarajan (1997): cost drivers analysis, value chain analysis and strategic positioning analysis. To validate them it was used the Delphi technique round, when 17 categories and 124 subcategories were sent to three experts in the field, recognized for their expertise in research, academic and distinguished role in forums related to this approach. Through three rounds we have obtained a consensus and validated to 16 categories and 84 subcategories. The theme is the most extensive Value Chain Analysis, with 48 practices, followed by Cost Drivers Analysis (22) and finally by the Strategic Positioning Analysis (14). Thus, it was revealed an extensive set of practices that could be validated by establishing a set of categories related to SCM, which may serve as a basis for future research in this area. Key words: Categories. Strategic costmanagement. Framework.
A key driver of the management of costs came from the communication between the Partner of a law firm and the client at the engagement stage and, if necessary, the review of the contract. It became apparent that the client played a significant role in shaping the policy in cost recovery and management. We will talk about clients again later on in the document. Due to the above, law firm procurement teams are increasingly getting involved in discussions with their client’s procurement teams to ensure that everyone is getting the most out of the contract in terms of value for money. It was stated that if you didn’t have a costmanagement tool in place, these discussions would become very difficult, especially if using fixed fee pricing structures.
l excess capacity—permanently idle capacity that is not marketable or usable under existing operating or market or policy conditions. Through effective deployment and design of work and daily management processes, organizations can productively use much capacity that had been reserved for contingencies. This opportunity to adjust capacity is the most attractive from a costmanagement viewpoint because it utilizes the inherent flexibility in existing capacity. For example, by reducing process flow time, an organization effectively increases its available capacity without any investment in fixed assets. The best time to control capacity costs comes during the initial decision and design of the capacity. Design dictates the cost of capacity. Reserving capacity also dictates the cost, not just when that capacity is used to meet height- ened demand but long afterward. If demand slackens or the nature of the product’s ability to generate customer value changes, excess or reserve capacity increases the burden that the organization must carry.