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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.

The following is a quote from Annual Report Toyota Motor Corporation 1992 "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 this in view, Indian Machine Tool Manufacturers' Association (IMTMA) is organizing a 2 day programme onDesign for Target Cost through Value Engineering on 14 - 15 December 2016 at Bangalore. The training programme is aiming 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 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.

How to use target costing methodology to ensure functionality and quality at a targeted cost
Survival triplet concept
Three level value engineering (VE) approach to design products
The first phase – How to determine the market driven target product cost, which transmits the market pressure on to the organization.
The second phase – How to design for system level target cost of new product, which challenges the creativity of the product designers.
The third phase – How to design for component level target cost, which challenges the creativity of component designers and suppliers.
Decomposing the product level costs up to component level target costs, driving down the target costing approach to the component designers and suppliers. Case Studies sharing first hand experience as a Supplier of components and Subassemblies to Toyota for more than a decade.

Key Takeaways

The dates of this programme is not yet announced. For more information please click below button.

Our Initiatives

Productivity Institute

The need for Productivity Institute

Is your work place suffering from poor productivity?
Do you feel that supervision is weak on the shop floor?
Do your shop floor personnel find it difficult to achieve targets?
You have the machine in place, but not the men to optimize usage?

Realizing the need to enhance the skill sets of fresh engineers in mechanical engineering to make "Industry Employable" and to mould them as per the company requirements, IMTMA organizes

The rapid growth of Indian machine tool Industry and the increasing sophistication of machine tool has created the need for a new breed of machine tool technologists.

IMTMA Training