A SYSTEM OF MANAGEMENT INTEGRATION OF PRODUCT COSTING IN INDUSTRY
Quality control, innovation and cost management are vital if any success is to be achieved in the modern business world with heavy equipment and machines running the industries. The business environment has been very dynamic, the reason for this being the globalization range, customization of equipm...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Editura Academiei Oamenilor de Știință din România
2018-12-01
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| Series: | Annals: Series on engineering sciences (Academy of Romanian Scientists) |
| Subjects: | |
| Online Access: | http://aos.ro/wp-content/anale/TVol10Nr2Art.3.pdf |
| Summary: | Quality control, innovation and cost management are vital if any success is to be achieved in the modern business world with heavy equipment and machines running the industries. The business environment has been very dynamic, the reason for this being the globalization range, customization of equipment and the global market competition. It thus becomes of paramount importance that one should thoroughly comprehend the cost
structure business model. The competition pushes managers to develop more accurate cost methods. These methods include detailed data of costing for the purpose of precision in estimations as well as forecasting proper figures. The essence of cost
management integrated systems is to provide complete cost product management capable of spearheading the digital innovation with simple and accurate products and a process
with tools for cost management in a system that is unified [11]. Integrated cost management systems design systems to allow engineers to accurately and efficiently work with the life cycle of a product. Additionally, the integrated system allows cost engineers
to select and then optimize strategies for purchases for the sake of maximizing return on investment (ROI). |
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| ISSN: | 2066-6950 2066-8570 |