scholarly journals A Model of Product Life Cycle Cost Management Based on the Example of the Spartan Multimedia Shooting Training System

Economies ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 90
Author(s):  
Waldemar Swiderski ◽  
Wieslawa Rolek
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Cost Management ◽  
Training System ◽  
Accounting System ◽  
Product Life ◽  
Acquisition Costs ◽  
Cost Accounting System ◽  
Whole Life Cycle

Cost management is a process that contributes to increases in efficiency that have an impact on a finished product. Comprehensive cost management uses information that is created by the cost accounting system and new concepts of measurement and valuation of product manufacturing costs. This paper presents the product life cycle costing (LCC) method and the target cost method as concepts used in cost management based on the example of the SPARTAN system. SPARTAN is a stationary training system designed to train, monitor and evaluate sighting and shooting techniques for small arms. The LCC method refers to the estimated cost of a product (in our case, the SPARTAN system) life cycle and it is calculated as the sum of the acquisition costs, ownership costs and operating costs. Having taken into account costs of acquisition, ownership and operation, the results of the LCC analysis were obtained, which show that, keeping in mind the whole life cycle cost, it will be more profitable to purchase the modernized version of the SPARTAN system despite its higher acquisition costs.

scholarly journals Integrated framework for strategic cost management based on target costing, ABC, and product life-cycle in PDP: Empirical experience

2020 ◽  
Vol 10 (1) ◽  
pp. 31-43
Author(s):  
Maísa Martins Ferreira ◽  
Selma Regina Martins Oliveira
Keyword(s):  
Life Cycle ◽  
Product Life Cycle ◽  
Development Process ◽  
Cost Management ◽  
Business Management ◽  
Target Costing ◽  
Product Lifecycle ◽  
Product Life ◽  
Integrated Framework ◽  
Strategic Cost Management

This study aims to contribute to the planning process on product management. To do so it presents a integrated framework based on strategic cost management, using the methods target costing, activity-based cost (ABC) based on the product lifecycle. This proposal was structured as it follows: Phase 1: determining Target Cost; Phase 2: determining ABC defrayal to the light of the defrayal based on the product lifecycle. The research was elaborated to the light of specialized literature, from which we extracted the variables to formulate the methodology. After that, to show the feasibility and plausibility of the method we applied a hypothetical case study based on the development process of a product to the light of a course/MBA in Business Management in Institution of Higher Education in Brazil. The results were satisfactory and validated the proposal suggested. The survey findings indicate that the integrated method between ABC, target costing and products lifecycle applied in MBA Business Management is quite satisfactory.   Keywords: Framework, target costing, activity-based cost (ABC), costing based on product life-cycle, product development process (PDP);

Applying Life Cycle Six Sigma in Tolerance Design Methodology

2012 ◽  
Vol 443-444 ◽  
pp. 881-887
Author(s):  
Jian Jun Wu ◽  
Yi Zhen Wang
Keyword(s):  
Life Cycle ◽  
Six Sigma ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Quality Characteristic ◽  
Quality Level ◽  
Manufacturing Cost ◽  
Tolerance Design ◽  
Product Life ◽  
Sigma Level

Setting of tolerances to meet a required specification of quality characteristic and keep low manufacturing cost is one of common problems in the process quality control. But generally traditional tolerance design only focus on cost of manufacturing, few consider product Life Cycle Cost. In these situations, to obtain a satisfactory six sigma quality level as well as keep lower life cycle total cost should be considered. This paper expands tolerance optimization based on the manufacturing cost to the product life cycle cost, which can improve product quality to the six sigma level and keep lower LCC simultaneously.

Life Cycle Cost Modeling of Pumps Using an Activity Based Costing Methodology

2010 ◽  
Author(s):  
Laxman Yadu Waghmode ◽  
Anil Dattatraya Sahasrabudhe
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Business Environment ◽  
Life Cycle Costing ◽  
Activity Based Costing ◽  
Global Business ◽  
Product Life ◽  
Traditional Costing ◽  
The Cost

In order to survive in today’s competitive global business environment, implementation of life cycle costing methodology with a greater emphasis on cost control could be one of the convincing approaches for the manufacturing firms. The product life cycle costing approach can help track and analyse the cost implications associated with each phase of product life cycle. Life cycle costing (LCC) practices with traditional costing methods may provide results that have a severe deviation from the real product LCC as it focuses on the cost of materials, labor and a low portion of overheads apportioned by the absorption rate to the product. Activity based costing (ABC) has emerged as one of the several innovative and more accurate costing methods in recent years. It is based on the principle that products or services consume activities and activities consume resources that generate costs. Thus, the ABC system focuses on calculating the costs incurred on performing the activities to manufacture a product. This paper presents a LCC modeling approach for estimating life cycle cost of pumps using activity based costing method. The study was conducted in a large pump manufacturing company from India that has significant global standing within its industry. Firstly, all the activities and cost drivers associated with the life cycle of a pump have been identified. A methodology for LCC analysis using ABC is then developed and it is applied to two different pumps manufactured by the same industry and the results obtained are presented.

Analysis on Whole Life Cycle Cost Management of Highway Engineering

2011 ◽  
Vol 255-260 ◽  
pp. 3907-3910
Author(s):  
Hui Hong Feng ◽  
Xiao Ping Ding ◽  
Jing Si Chen ◽  
Yu Chen
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Cost Management ◽  
Control Methods ◽  
Construction Process ◽  
Highway Engineering ◽  
Engineering Cost ◽  
Whole Life Cycle

According to the analysis of the current problems in highway engineering cost management, this paper puts forward the idea of the whole life cycle cost management in highway engineering, and elaborates the specific contents and the control methods of engineering cost management for all stages in the construction process.

scholarly journals THE IMPACT OF PRODUCT LIFE CYCLE TECHNIQUE IN REDUCING COSTS AND ACHIEVING SUSTAINABLE DEVELOPMENT GOALS, A CASE STUDY IN THE RUSTAN STEEL STRUCTURE PRODUCTION COMPANY IN ERBIL

2021 ◽  
Vol 03 (07) ◽  
pp. 314-328
Author(s):  
Ghazi Abdulazeez SULAIMAN BAG ◽  
Rafiq Faraj MAHMOOD
Keyword(s):  
Corporate Governance ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Steel Structures ◽  
Product Life ◽  
Technical Requirements ◽  
The Cost ◽  
The Impact

This research was - case study in Rstin company for the steel structures in Erbil- addressed the cost technique of product life cycle, as discussed the kinds, relevance and the stages of the life cycle of the product, also it referred to the corporate governance of discussing its inception the concept and importance of the principles, objectives, and mechanisms was addressed to the technical aspects of the overlap between the cost of the product life cycle corporate governance and show the appropriate techniques used in each stage of the life cycle of the product and how it achieved by a reduction of costs. The result of this study indicates that the integration between the product life cycle cost and corporate governance works on reduce costs through the various stages of product life cycle. It also concluded that this integration increases the company ability to compete in market which leads to rise in its market share and eventually lead to maximize the profit which has been achieved through the optimal use of a company available resources. It also found that the techniques of life cycle cost of the product cannot be applied without support of the company directors, throughout the technical requirements of the application. Corporate governance ensures directors of the company to utilize firm resources which makes the company to achieve several stakeholders' objectives.

scholarly journals Considering Product Life Cycle Cost Purchasing Strategy for Solving Vendor Selection Problems

2019 ◽  
Vol 11 (13) ◽  
pp. 3739
Author(s):  
Chien-Wen Shen ◽  
Yen-Ting Peng ◽  
Chang-Shu Tu
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Economies Of Scale ◽  
Rejection Rate ◽  
Life Cycles ◽  
High Tech ◽  
Vendor Selection ◽  
Product Life ◽  
Strategic Relationships

The framework of product life cycle (PLC) cost analysis is one of the most important evaluation tools for a contemporary high-tech company in an increasingly competitive market environment. The PLC-purchasing strategy provides the framework for a procurement plan and examines the sourcing strategy of a firm. The marketing literature emphasizes that ongoing technological change and shortened life cycles are important elements in commercial organizations. From a strategic viewpoint, the vendor has an important position between supplier, buyer and manufacturer. The buyer seeks to procure the products from a set of vendors to take advantage of economies of scale and to exploit opportunities for strategic relationships. However, previous studies have seldom considered vendor selection (VS) based on PLC cost (VSPLCC) analysis. The purpose of this paper is to solve the VSPLCC problems considering the situation of a single buyer–multiple supplier. For this issue, a new VSPLCC procurement model and solution procedure are derived in this paper to minimize net cost, rejection rate, late delivery and PLC cost subject to vendor capacities and budget constraints. Moreover, a real case in Taiwan is provided to show how to solve the VSPLCC procurement problem.

scholarly journals HOW CAN INFORMATION AND COMMUNICATIONS TECHNOLOGY SUPPORT THE LINK BETWEEN CIRCULAR ECONOMY AND PRODUCT LIFE CYCLE MANAGEMENT? – A REVIEW

2020 ◽  
Vol 1 ◽  
pp. 2187-2196
Author(s):  
C. Villamil Velasquez ◽  
N. Salehi ◽  
S. I. Hallstedt
Keyword(s):  
Life Cycle ◽  
Circular Economy ◽  
Product Life Cycle ◽  
Life Cycle Management ◽  
Resource Scarcity ◽  
Information And Communications Technology ◽  
System Perspective ◽  
Product Life ◽  
Product Life Cycle Management ◽  
Whole Life Cycle

AbstractLinear production is related to resource scarcity and negative environmental impacts. Circular Economy (CE) emerged for society transition towards sustainability, based on regenerative systems and multiple life cycle products. Product Life cycle Management (PLM) supports the whole life cycle with the aid of Information and Communication Technology (ICT). A literature review analyzed the role of ICT enabling CE based on PLM, identifying challenges and opportunities, active and passive PLM, system perspective, stakeholder's role, and sustainability. Concluding that ICT enables the CE transition.

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