Target Cost Management - Products

As stated on the solutions page, there is not a "one size fits all" in Target Cost management. Most firms already have a suite of engineering and business software products that have been carefully selected over a numbers of years.

Target Costing - Software Products exploitation

Product Life-cycle Management (PLM) will be the main supporting software product for creating and maintaining a Target Costing environment. Most PLM systems have a suitable framework to enable the creation of a Target Costing environment.

To be more effective in Target Costing firms need to consider the adoption and intergation of additional capability:-

• Cost estimating software appropriate to the various stages of the product development life-cycle
• Part Classification and Group Technology tools to make available to designers detailed engineering cost estimates for various part types and commodity groups
• Design and integration of "Dashboards" for monitoring and reporting target cost achievement
• Tools, techniques and Measures of Performance to track design re-use and commonisation targets

Some of these tools will be available as individual packages and will need to be integrated into the firm's overall systems architecture.