Design for Target Cost
Training Programme on
Design for Target Cost
12 – 13 February 2015, IMTMA Technology Centre, Bangalore
The thinking that product cost is the output of design process is outmoded. To be successful with new products, we should know that target product cost is a very important input to the new product design process.
Global leaders like Toyota have laid tremendous emphasis on reduction of costs in activities and find their place in history - “If Toyota does one thing better than other automakers, it is cost management. After earning a reputation for quality and fuel efficiency in the ‘economy models’, we moved successfully into upscale models, like the LEXUS line. But we still pride ourselves in the cost competitiveness of our products in every price stratum. The history of Toyota is a story of unceasing efforts to reduce costs.”
Keeping the above in view, Indian Machine Tool Manufacturers' Association (IMTMA) organized a two day programme on Design for Target Cost on 12 - 13 February 2015 at IMTMA Technology Centre at Bangalore. The objective of the training programme was to show the participants as to how Japanese firms successfully use target costing methodology and three levels of value engineering (VE) to design products that have the functionality and quality that customers demand at a cost that allows the firms to make adequate profits when the products are sold at their target selling prices, thus building what is known as the Survival Triplet.
The training programme focused on concepts such as how to target cost methodology to ensure functionality and quality at a targeted cost, three level value engineering approach to design products, and decomposing the product level costs up to component level target costs, driving down the target costing approach to the component designers and suppliers.
Thirty-three delegates attended the training programme conducted by industry experts from Nettur Technical Training Foundation, Bangalore. The delegates were from companies such as Bajaj Auto, Bosch, Chemtrols Industries, DISA India, FCI OEN Connectors, Meritor CVS India, MothersonSintermetal Technology, SatracEngg, Seenu Precision Tooling Systems, SKF Technologies India, Starrag India, Tata Motors, Venture Power Systems India, Walvoil Fluid Power India, and YEES Management Consultants.
The training programme was highly interactive and knowledgeable as evident from the participants’ feedback:
“All the modules of the training programme ‘Design for Target Cost’ were excellent. The programme was very knowledgeable.” – Mr. Ajitesh Chatterjee, Sr. Manager, Cost Planning, Bajaj Auto Limited.
“The presentation by the faculties which showed industry examples was excellent.” – Mr. SanthanuYeshodharan, AVP, R&D, Chemtrols Industries Limited.
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