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1、 ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.1Presented by:Chuck Marx - PartnerJohn J. Dutton - Senior ManagerArthur AndersenAdvanced Cost Management Leadership Team ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.2lEvaluate Current Cost Accounting Practices-Best Practices-Ability to Support Target Costingl

2、Evaluate Current Practices in terms of Target Costing lIntroduce Target Costing-Describe Key Elements -Describe Roles and Responsibilities-Describe Best PracticeslReport on Our Findings ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.3nTarget Costing OverviewnThe Voice of the CustomernStrategic Planning -

3、 Competitive IntelligencenProfit PlanningnNew Product DevelopmentnCost Accounting / Cost PlanningnEngineering Tools and TargetsnCost Tables / Cost Drivers ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.4 ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.5CompanyPricing ActionMercedes - BenzCompaq Computer Corp.B

4、oeingLowering luxury car prices by almost 15%Slashing personal computer prices by 23%Essentially freezing prices of commercial airplanes for five years. Now offering price discounts. ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.6Target Costing Overview ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.7 “Targe

5、t Costing can be defined as a cost management tool for deducing the overall cost of a product over its entire life cycle with the help of the production, engineering, research and design, marketing and accounting departments.”Michiharu Sakurai (1989)Target Costing is “a comprehensive cost planning,

6、cost management, and cost control concept . used primarily at the early stages of product design in order to influence product cost structures depending on the market derived requirements. The Target Costing process requires the cost-oriented coordination of all product-related organizational functi

7、ons.”Peter Horvath (1993) ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.8In The PastTodayCost+ ProfitPriceMarket Price- TargetProfitAllowableCostCost of Future ProductsVariable OperatingCostsFixed Costs ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.9Objective:Meet customer needs and wants at prices consiste

8、nt with customer expectationsValue =Function and QualityCost ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.1060%20%10%5%5%85%5%2%3%5%Costs CommittedCosts IncurredConceptDesign/EngineeringTestingProcessPlanningProduction ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.11Target GoalTarget Commitment ARTHUR ANDE

9、RSENARTHUR ANDERSEN & CO., S.C.12Innovation in process and products moves products to new cost curves.Price Product APrice Product BCost Product ACosts Product B ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.13Market ResearchStrategic PlanningCompetitive ResearchProduct Logisticsand SupportValue ChainMa

10、nagementProduct Concept& DevelopmentCostPlanningProductPlanningProfit PlanningProduct ExecutionContinuousImprovement ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.14qPrice drives cost (market driven approach used in favor of traditional approach)qParallel quality and cost management systems support prod

11、uct development and production processesqValue Engineering is a primary toolqContinuous improvement in value is managements responsibilityqCommitment and accountability are created throughout the organizationqCross-functional management simultaneously examines quality, cost and timing ARTHUR ANDERSE

12、NARTHUR ANDERSEN & CO., S.C.15Voice of the Customer ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.16Identify Target Customers.Understand the Industry Value-Chain.Apply Customer Satisfaction Philosophy to All.Determine Key Dimensions for “Value-In Use”.Determine Key Dimensions of Performance/Service at C

13、ontact PointsDetermine Customer Need & Wants from Creating a Continuing Relationship.Measure and Share, Internal and External Customer Satisfaction ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.17Repurchase Intent- SurveysCustomer Complaints- OEM calls, letters, etc.- Direct engineering contact (also id

14、entifies latent needs)Service/Responsiveness- Surveys- Warranty policyFailure Rate Over Time- Field reliability data- Life testing resultsInitial Defect Rate- Manufacturing/ SuppliersMethod of Use- Observation to identify problems and latent needsDelivery/Timing- Product development- ManufacturingPr

15、ice- Marketing studiesFunction/Performance- Direct engineering contact- Market surveys/focus groups- Current product evaluations- Competitor product evaluationsOverall Satisfaction Index- SurveysTargetCurrent Performance ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.18lStrengths, Weaknesses, Opportuniti

16、es Threats (SWOT)lValue Chain AnalysislShadowing - Role PlayinglFinancial Analysis (SGR, CCFA, etc.)lCompetitive Position MappinglCost Structure AnalysislReverse Engineering - Tear Down AnalysislBenchmarkingStrategy, Market Niche, Product Envelope Determinants ARTHUR ANDERSENARTHUR ANDERSEN & CO., S

17、.C.19Profit Planning ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.20Market PriceXSales Volume-Profit Target(ROS)XSales Volume+CorporateOverhead+Marketing Cost=Allowable/TargetCostlProfit targets include both absolute profit dollars as well as various profit ratios to saleslProfit ratios are determined

18、by dividing marginal income, contribution margin and operating profit by sales revenuelReturn on sales is calculated on a product line basis and is computed by dividing pretax operating profit by sales revenuelMarginal income is determined by subtracting variable costs from sales revenuelContributio

19、n margin is determined by subtracting traceable fixed costs (e.g., depreciation, development costs, prototype costs) from marginal incomelOperating profit is determined by subtracting allocated fixed costs from the contribution margin. Operating profit does not include interest income ARTHUR ANDERSE

20、NARTHUR ANDERSEN & CO., S.C.21TargetCost=+ Depreciation for New Investments Indirect Material Indirect Labor Development CostDirect MaterialsPurchased PartsDirect LaborDirect ManagerialVariable CostsFixed CostsIncludes costs that are controllable during product planningand design - not corporate ove

21、rhead, etc. ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.22BasicProduct PlanLong Term Plans and GoalsCross-Functional ManagementResource and Capital Investment PlansProduct Cycle PlansFive-Year PlanConceptDevelopmentShort TermPlanKaizenImprovementsDesign and PrototypeProductionPreparationMassProduction

22、KAIZENCOSTINGCOSTPLANNING ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.23lPricing decisions are strategic and are the responsibility of Sales and Senior ManagementlContinual price studies are done to understand market prices and to compare prices of current products with competitor productslMarketing i

23、s responsible for evaluating the value to customers of improved or added functions or featureslInflation is not included in proposed priceslThe purpose of this activity is to establish proposed sales volumes and prices for products in the cycle plan. lPrice elasticity thinking and analysis is used t

24、o propose volumes and priceslSales, in conjunction with Product Planning, estimates projected sales volumes based on past results, market trends and competitors sales lThe projected sales volumes for new models are based on the sales for the current models and competing productslOverly optimistic sa

25、les forecasts are not permitted. lSales commits to selling the estimated volume when final targets are set ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.24lVolume risklTotal manufacturing capacity versus product by product capacitylGlobal product development and manufacturing resource requirementslNeed

26、to improve investment efficiency and turnoverlLessons learned from current product development programs ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.25lPerformed simultaneously with concept developmentlIncluded in profitability check and target cost developmentlTreats investment as variable costlComple

27、ted by Production EngineeringlBased on past experience with similar processeslUses new process technology provided through advanced development If a company focuses only on the cost of new products, there will be a bias against high cost/high profit products. By linking target costing and profit pla

28、nning, such a bias is prevented. ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.26lMarket Price - Target Profit = Target CostlNew product profit targets and target costs set for each product linelTargets established in the context of the entire product life cycle.lProfit targets are based on an analysis

29、of past performance and future business requirementslResponsibility for product cost and customer satisfaction assigned to the same individual.lProfit planning has a horizon of five to seven years.lCapital investment planning is integrated into the process.lSuppliers are involved early in the proces

30、s. ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.27Targets are set only after understanding gaps and developingVE ideas to close gaps“Price - Profit = Cost”ensures adequate profitSales commits to selling salesvolumeestimatesCapital investment targets are includedas part of the overalltarget cost ARTHUR

31、ANDERSENARTHUR ANDERSEN & CO., S.C.28New Product Development ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.29FunctionsQualityCostProduct Planning/EngineeringProductionSalesPersonnel andAdministrationProductPlanningProductDesignProductionPreparationPurchasingManufac-turingEngi-neeringplanProductplanDesig

32、nTestProduc-tionplanProduc-tionEngi-neeringPur-chasingcontrolPur-chasingCor-porateFinanceDo-mesticOver-seasSalesOrgani-zationalofficeCompanyactivitiesFunc-tionalControlDepartmental ControlStrong relationSome relationNo relation ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.30General PlanningQualityCostP

33、roduct PlanningProductionSalesPersonnel and AdministrationTechnology ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.31lPermanent and formallRole in planning and checkinglDecision-making responsibility and powerlChairman is Senior V.P. or V.P. in charge of a functionlCommittee members are Director level o

34、r higher in related departmentslStaff support offices are maintained ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.32PlantsStandard operating proceduresInspection standardsProcess cost tablesSales/Marketing/Merchandise PlanningVolume and market share trendsCustomer survey resultsCompetitor informationPr

35、ice study resultsPurchasingPart certification standardsSupplier information filesSupplier quality historyPart and material cost tables Cost ManagementCost planning regulationsCompetitor cost information Product cost allocation ratiosCurrent model profitabilityProduction EngineeringTooling and equipm

36、ent cost historyParts rationalization study resultsFMEA resultsQuality Control/Quality AssuranceQuality assurance regulationsInspection standardsField informationCustomer complaint informationDesign/Engineering/TestingEngineering, reliability assessment and testing standardsPrior QFD chartsCompetito

37、r and current product evaluation resultsDesign of experiments resultsFailure analysis resultsTest and evaluation resultsFunction cost tablesProduct Planning/Technology ManagementProduct development regulationsTechnology trendsRegulatory informationPatent informationFMEA results ARTHUR ANDERSENARTHUR

38、 ANDERSEN & CO., S.C.33Product Planning Committee ResponsibilitieslDeveloping the long-term product cycle planlApproving development of a productlProposing development ideaslApproving the product conceptlApproving program investmentslPlanning and allocating development resourceslFostering cross-func

39、tional coordinationQuality and Cost Committee ResponsibilitieslReviewing and approving the product conceptlReviewing and approving quality and cost targetslChecking and evaluating quality and cost results lEstablishing quality assurance and cost management system policies, guidelines, rules and resp

40、onsibilities for each stage of developmentlAuditing quality and cost system functions and processes ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.34Quality and Cost Staff Support OfficeslCheck results, clarify problems and provide assistancelPrepare and maintain cross-functional regulations and standard

41、slConduct audits and diagnostic processesQuality Control/Assurance ResponsibilitieslCorporate Quality Control promotes TQC and establishes policies and procedures lAssist with target setting and checking quality items during design reviewsProduct Planning ResponsibilitieslConducts value planning and

42、 allocates the overall target cost to sub-systems and components lAssists Sales/Marketing in estimating sales volume based on market trends and competitor saleslChecks performance to the overall target cost throughout the development processlResolves quality and cost conflicts ARTHUR ANDERSENARTHUR

43、ANDERSEN & CO., S.C.35Sales/Marketing ResponsibilitieslPerforms ongoing pricing studies to understand market price and compare prices of current products with competitor productslDetermines the price range of new products by factoring in the market value of improvements to the current product and pr

44、ices of competing productslTracks market volume trends and volume results for current products and competitors products to establish proposed new product volume targetsDesign/Engineering ResponsibilitieslNegotiates sub-system cost targets and distributes cost targets to componentslEstimates cost thr

45、oughout the development processlIdentifies cost reduction ideas such as new materials or processes, and generates VE ideaslConducts design reviews to identify problems and develop solutionslMaintains function cost tables ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.36Purchasing ResponsibilitieslAllocat

46、es required investment to suppliers lWorks with Design/Engineering to allocate the overall target cost to sub-systems and componentslEstimates the cost of externally produced parts lFacilitates meetings between Design/Engineering and suppliers to work on VE activitieslNegotiates supplier price reduc

47、tions every six months based on cost reduction or volume increasesProduction Engineering ResponsibilitieslDevelops company-wide facility and equipment plans and the overall capital investment budgetlMonitors overall capital budgets (plants are responsible for controlling their own capital budgets)lP

48、rovides capital investment targets and payback calculations for product profitability checks and target cost developmentlAssists purchasing in allocating required investment to supplierslAssists with plant kaizen cost target setting and improvement activities ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.

49、C.37Cost Accounting / Cost Planning ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.38Finance & Accounting OrganizationFinance/AccountingDepartmentFinanceManagementDepartmentFinanceSystemDepartmentCost ManagementDepartmentCost Planning SectionCost ControlSectionPlant Cost Control SectionsFinance/Accountin

50、gDivision ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.39Cost Management DepartmentCostManagementSystemCost PlanningResource andInvestment PlanningCost ImprovementCost MaintenanceTo identify principal responsibilities of the departments for cost management and to execute all necessary work flawlessly.S

51、copeObjectives ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.40Cost Planning ResponsibilitieslConducts product concept profitability checkslRequests changes to investment plans and targets provided by Production EngineeringlEstablishes and monitors total product target costlProvides cost improvement edu

52、cation and trainingCost Control ResponsibilitieslAssists with developing the five year planlPrepares the short-term profit planlFacilitates short-term target and budget setting process with functional departmentslPrepares product profitability reports and short-term targetsPurchasing Cost Planning R

53、esponsibilitieslAssists buyers with supplier cost target setting and investment planninglSupports buyers with cost estimating and VE proposals for partslAssists suppliers with improving cost management systemslMaintains supplier parts and materials cost tables ARTHUR ANDERSENARTHUR ANDERSEN & CO., S

54、.C.41Plant Cost Control ResponsibilitieslNegotiates kaizen targetslPromotes and supports kaizen activitieslProvides administrative supportlOffers consulting advicelPrepares kaizen newsletterslMaintains process cost tablesEngineering Cost Planning ResponsibilitieslAssists with cost estimation for new

55、 technology, etc.lPrepares concept cost estimateslSupports engineers during value engineeringlMaintains “easy to produce” manualslAnalyzes cost of competitors productslCoordinates development resource planning and budgeting ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.42ABCDNew Product Major Product Ch

56、angesProduct ModificationsProductYear19941995199619971998Product Cycle Plan ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.43Product Cycle Plan: Products and Technology Price and VolumeRequired Resources: Product Development Capital Investment Cash Flow ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.44lThe Co

57、st Planning group coordinates planning the human and physical resource requirements needed to develop each product in the cycle planlResources include Product Planning, Design/Engineering and Production Engineering personnel as well as the costs associated with developing and evaluating prototypes f

58、or each productlPast experience is used as input to resource planninglIncludes manning, computer support, test facilities and cost of prototypeslInternal resourceslContract resourceslBased on past experiencelMatch product plan and resources to identify problems versus financial constraints and smoot

59、h the demand on resources ARTHUR ANDERSENARTHUR ANDERSEN & CO., S.C.45lThe capital investment planning process is centralized and controlled by Production Engineering. Cash flow and investment constraints across all product programs are determined by the five year planlProposed capital investment re

60、quirements are compared to capital investment requirements from prior programslProduct program capital investment requirements from the cycle plan are compared to cash flow and resource availability during five year planning to identify break-even and investment constraint problems ARTHUR ANDERSENAR