scholarly journals Extent of Implementing Target Costing and Value Engineering Approach to Reducing Costs: A Survey in Jordanian Shareholding Companies for Food Industries

2018 ◽  
Vol 10 (1) ◽  
pp. 390 ◽  
Author(s):  
Suleiman El-Dalahmeh
Keyword(s):  
Response Rate ◽  
Engineering Application ◽  
Value Engineering ◽  
Target Costing ◽  
Food Industries ◽  
Engineering Approach ◽  
Target Cost ◽  
Expected Benefits ◽  
Reducing Costs ◽  
Basic Hypothesis

This Study aims at identifying the extent of implementing Target Costing and Value Engineering approach to reducing costs of Jordanian public shareholding companies for food industries. To achieve the study objectives, the researcher distributed personally a questionnaire to a random sample of (145) accountants in the Hashemite kingdom of Jordan. (100) questionnaires were returned. The response rate was 69%. In addition, the survey sought to verify the five basic hypothesis of the study. In order to analysis the data, the researcher used means, standard deviations and T-test. The results of the survey revealed that availability of the components of application of target cost, as well as companies have awareness, concepts, principles and the importance of applying target costs to managing costs so as to improve profitability, and the companies are using value engineering to achieve a cost to reach the target costs. The results also showed that there were some difficulties to hinder the application of target costs and value engineering in Jordanian shareholding companies for food industries. The most important difficulties were: The lack of sufficient knowledge to manage the company on how to implement the target cost and value engineering. The lack of research and publication related to the benefits target cost and value engineering. Application costs greater than the expected benefits.

REKAYASA NILAI HARGA PEMBUATAN TERHADAP EFEKTIFITAS PENGGUNAAN BAHAN PADA PEMBANGUNAN PERUMAHAN TIRTO PENATARAN ASRI TIPE 70/135 KECAMATAN NGLEGOK KABUPATEN BLITAR

2017 ◽  
Vol 7 (1) ◽  
pp. 43-52
Author(s):  
Mochamad Tamim Ma’ruf
Keyword(s):  
Engineering Application ◽  
Cost Savings ◽  
Comparison Method ◽  
Value Engineering ◽  
Design Work ◽  
Housing Projects ◽  
Initial Design ◽  
A Value ◽  
The Cost ◽  
Design Proposal

One-solving methods and techniques necessary to avoid inefficiencies and not economic costs as well as reduce the cost of housing construction is the method of Value Engineering. Value engineering is a method and cost control techniques to analyze a function to its value at the lowest cost alternative (most economical) without reducing the quality desired.At the writing of this study used a comparison method by comparing the initial design to the design proposal of the author. In the housing projects Upgrading Tirto Penataran Asri type 70, the application of Value Engineering conducted on the job a couple walls and roofs pair by replacing some work items with a more economical alternative but does not change the original function and high aesthetic level and still qualify safe. For that performed the step of determining a work item, the alternative stage, the analysis stage, and the stage of recommendations to get a Value Engineering application and cost savings against the wall a couple of work items and partner roof.The proposed design as compared to the initial design. Work items discussed was the work of a couple wall having analyzed obtained savings of Rp. 2,747,643.56 and the work of the roof pair obtained savings of Rp. 2,363,446.80. Thus the total overall savings gained is Rp 5,111,090.36 or savings of 0048%.

scholarly journals Research into Customer Preferences of Potential Buyers of Simple Wood-based Houses for the Purpose of Using the Target Costing

2019 ◽  
Vol 9 (1) ◽  
pp. 390-396 ◽  
Author(s):  
Marek Potkány ◽  
Monika Škultétyová
Keyword(s):  
Target Costing ◽  
Target Price ◽  
Cost Index ◽  
Specific Product ◽  
Customer Preference ◽  
Wood Processing ◽  
Customer Preferences ◽  
Target Cost ◽  
Timber Constructions ◽  
Specialized Exhibition

AbstractThe purpose of this paper is to present the results of a research into the customer preferences of potential buyers of simple wood-based house for the purpose of using the Target Costing methodology. Respondents’ opinions of 280 customers were obtained through direct interviews taking place at a specialized exhibition of furniture and timber constructions in Slovakia. The object of the research was a simple wood-based house, namely a weekend garden cottage, made of northern spruce at the level of target price 9,320 €. The paper contribution is represented by the use of the Target Costing methodology in the conditions of wood-processing industry while defining the customer preference for a specific product with the subsequent use for a functional cost analysis and determining the target cost index of the evaluated components. Presented results can be used as information database for decision making in the field of make or buy decisions at the level of fixed purchase prices of individual components or as the upper price limit for producing the components by the business itself.

Reducing costs in manufacturing firms by using target costing technique

2020 ◽  
Vol 22 (1) ◽  
pp. 69
Author(s):  
Hamood Mohd. Al Hattami ◽  
Jawahar D. Kabra ◽  
Murlidhar A. Lokhande
Keyword(s):  
Manufacturing Firms ◽  
Target Costing ◽  
Reducing Costs

scholarly journals Target costing

2021 ◽  
Vol 9 (11) ◽  
pp. 491-510
Author(s):  
Sanailton De Lima Dias ◽  
Francisco Tavares Filho ◽  
André Luis Korzenowski ◽  
Moisés Ozório de Souza Neto ◽  
Rafael Ramon Fonsêca Rodrigues
Keyword(s):  
Qualitative Research ◽  
Control System ◽  
Cost Control ◽  
Planning System ◽  
Target Costing ◽  
Construction Companies ◽  
Target Cost ◽  
Efficient Control ◽  
Survey Results

The implementation of a cost control system in construction companies contributes to reducing resource losses in the production process and increasing business productivity and profitability, especially when it comes to small business, which normally do not have a planning system and efficient control. Therefore, this article aims to propose a target costing model for a small construction business, concerning the efficient evaluation of its costs for the maximization of profits in proposals to provide services to public entities. A case study is used, in which data collection occurred through a questionnaire, observations of the process of preparing financial proposals, other unstructured questions, and documentary search, whose approach includes descriptive and qualitative research. The survey results revealed that the enterprise has a cost control system, but is technologically backward. Besides, the enterprise already intuitively used the concepts of target cost in preparing budgets. After evaluating the costs, a target costing model was suggested for the enterprise to use as a parameter in the bidding processes, however, it was not implemented due to the current unfavorable conditions.

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