In recent years, environmental, social and corporate governance (ESG) factors have become increasingly important for companies in all sectors. The manufacturing industry plays a particularly important role due to its significant impact on the environment, its complex supply chains and its influence on local communities. In this blog post, we discuss the steps to implementing ESG practices and outline strategies that manufacturers can use to effectively manage the financial impact of ESG.
In the rapidly evolving landscape of the automotive industry, staying competitive requires more than just innovative designs and cutting-edge technology. Amidst fierce competition, fluctuating market demands, and increasing regulatory pressures, the importance of cost optimisation has never been more critical. In this blog post, we highlight various strategies that proactively contribute to the control and optimisation of product costs.
Understanding the nuances of bottom-up and top-down costing is crucial for businesses to make informed decisions that align with their financial and operational goals. This post deals with the principles of both approaches and is a helpful guide to choosing the right costing strategy.
In this article, we introduce you to the basics of Value Engineering, outline the step-by-step process and describe the numerous benefits that Value Engineering offers companies.
This article offers helpful strategies and measures with which you can optimise and reduce product development costs in a targeted and sustainable manner. You will gain insights into proven and tested methods that can be customised and applied to a variety of development scenarios.
In the first part of our three-part guide, we introduce you to the basic principles of should cost analysis and outline the most important steps for the successful implementation of should cost analysis.
In the second part of our three-part guide, we go into detail about the potential benefits that should cost analysis has to offer and outline how should cost analysis is proving to be effective in different industries.
In the third part of our three-part guide, we provide you with solutions to overcome common challenges in the implementation of should cost analysis. We also highlight how the use of professional should cost modelling software can significantly increase the efficiency, accuracy and usefulness of should cost analysis.
This article provides you with basic information on the topic of cost optimisation. You will learn how to implement forward-looking cost management, identify potentials to optimise, introduce suitable optimisation measures and thus enhance the long-term competitiveness of your company.
In this article, we explain the most important basic terms, the role that cost calculation plays in the project for every company, and which prerequisites must be met in order to carry out a reliable cost calculation. We also show which types of project costing exist and what kind of approach makes sense and when. In the last section, we look at some typical mistakes that commonly lead to incorrect values in the calculation process.
This article explains the basic concepts of cost planning in the context of customer-related projects. Detailed cost planning is essential for the management of any project, quotation, production process or work package. It shows which factors affect the total costs and how the individual items can be determined in a targeted manner. In addition, we address the question of how an optimal quotation can be conducted with which a solid pricing for customers is possible. With good cost planning, you are able to significantly minimise the risk of cost overruns and uneconomical projects.
What exactly defines the terms such as cost estimation, cost determination, cost calculation, production costs, planned costs and actual costs? How can anticipated production costs be predicted with reasonable effort, a cost breakdown into cost groups and the necessary precision? In this article we will address and give you answers to these questions.
In addition to a basic explanation of terms, this guide shows how to prepare a potential analysis professionally, select suitable criteria and perform a meaningful comparison with the competition. In addition, you identify which data sources you should use to obtain a meaningful information.
In this article you will learn how to calculate prices correctly and which errors should be avoided is at the core of product costing or product cost calculation. Manufacturing costs, cost of goods sold and the purchase prices of each individual part listed in bills of materials are the basis of any costing structure. They must be considered separately in every product costing.
This article explains how you benefit from the use of the value analysis. It provides you an overview of which targets can be realized, which elements the method consists of and the sequence it follows.