STRATEGIC COST MANAGEMENT

Catalog description

The course is designed to provide the student with an in-depth understanding of the role of management with cost reduction as a critical tool in the business strategy redirecting emphasis from price to total cost of ownership. This course starts with an in -depth presentation and understanding of direct and indirect costs of a product or system, the strategic role of purchasing, the procurement process and management with an emphasis on the role of information flow. It also considers the complexities and importance of strategic performance measurements, developing strategies on reducing/managing costs beyond the initial manufacturing cycle time and cost to make parts.