Elements and Performance Criteria
- Analyse total cost components of product
- Optimise costs
- Analyse causes of costs which lead to customer features/benefit
- Determine methods of increasing the customer benefit/cost ratio
- Analyse causes of waste costs
- Determine methods of reducing/eliminating waste costs
- Analyse interactions between cost components
- Check that one method of reducing costs does not cause an increase in another cost/reduction in consumer benefit
- Check that cost reduction plans do not reduce required levels of regulatory compliance or Occupational Health and Safety (OHS)
- Implement cost optimisation