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Strategic Cost Management

Submitted by admin on Thu, 23/12/2010 - 4:47pm

Cost management is a basic component of your business model and strategy. Therefore, your strategy will guide you in the direction of products and services you want to offer to your customers. This allows you to perform target costing, based upon your understanding of costing your current business processes. These exercises will demonstrate you where additional efforts are needed to reduce costs, without reducing the value to the customer. As you are managing costs within your business processes, you can engage in benchmarking your operations against competitors or market data. This means you can integrate your strategic cost management with your operational excellence programs.

B&M helps customers to implement accurate & actionable cost and profitability measurement systems, and perform a Value ID to identify cost reduction opportunities in the value chain and help the customer to redesign processes by:

eliminating unused capacities
eliminating non-value added activities: these are high cost activities that do not add value for the customer.
organize activities with less resources consumption. This can be realized by:
- using cheaper resources in the departments and the activities.
- lowering the driver consumption by the different cost objects, by reducing activity times
introducing target costing

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