Comprehensive course analysis
Who should attend
Industry practitioners working in:
- Product Design
- Product Costing
- Project Management
- Purchasing - Commodity & Category Buyers
- General Manufacturing
- Consumer Goods (esp. Garment Industry) where cost pressure is significant
About the course
Generate accurate costs for negotiations with your customer or supplier.
Companies are under increasing pressure to bring out new products, having more features, to market faster and faster with adequate profit margin. Errors in product costing estimates will reduce or eliminate all profits or lose business to competitor due to non-competitive bid and industry practice of target costing often leads to sub optimal solutions. This course will discuss various cost models their advantages and disadvantages and will introduce the concept of what “Should” be the product cost.
The course will focus on hand on training, getting results, and understanding the concepts of cost modelling. You will learn how to manage the product cost estimation function to generate accurate costs for negotiations with your customer or with your supplier.
- Product cost elements
- Difference between “Target” cost vs. “Should” cost
- Analytical methods related to individual cost element estimation
- Elemental vs. Parametric approaches of cost modelling favored by Automotive and Aerospace industries respectively
Participants will receive a license for a cost modelling software and will use the software for in-class exercises.
Dr. Prakash Sathe has been a part of the RGBSI’s executive team since 2010. Holding a Ph.D. in Industrial and Operations Engineering from the University of Michigan and an MBA from the Michigan State University Executive Management Program, Dr. Prakash Sathe brings extensive and successful leader...
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Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.