MAIN MENU

PROFESSIONAL EDUCATION CERTIFICATES

Product Cost Engineering

Key Information

Course Dates

CREDENTIALS

DIGITAL BADGE

Issued by:

Earn a digital badge after successful completion of the course.

DIGITAL CERTIFICATE

A certificate will be awarded upon successful completion of this course.

Traveling to Ann Arbor?

Information on airport, hotels, local food options, and more.

Generate accurate costs for negotiations with your customer or supplier.

Companies are under increasing pressure to bring new products with more features and an adequate profit margin to market quickly. Errors in product costing estimates can reduce or eliminate profits as well as cause business loss. Non-competitive bids and the industry practice of target costing can often lead to sub-optimal solutions. In this course, you will learn various cost models, their advantages and disadvantages, and the concept of what “should” be the product cost.

LEARNING OBJECTIVES

  • Product cost elements
  • Difference between “Target” cost vs. “Should” cost
  • Analytical methods related to individual cost element estimation
  • Elemental vs. Parametric approaches of cost modeling favored by automotive and aerospace industries respectively

PROGRAM OVERVIEW

The course will focus on hands-on training, getting results, and understanding the concepts of cost modeling. You will learn how to manage the product cost estimation function to generate accurate costs for negotiations with your customer or with your supplier.

LAPTOP REQUIRED FOR ATTENDANCE
Participants will receive a license for a cost modeling software and will use the software for in-class exercises. A familiarity with Microsoft Excel is also helpful.

Software used in class includes:

WHO SHOULD ATTEND

Industry practitioners working in:

  • Product Design
  • Product Costing
  • Project Management
  • Sales
  • Purchasing – Commodity & Category Buyers
  • Finance/Accounting

Industry sectors:

  • Automotive
  • Aerospace
  • General Manufacturing
  • Consumer Goods (esp. Garment Industry) where cost pressure is significant

INSTRUCTIONAL TEAM

Prakash Sathe

Prakash Sathe, PhD

  • Lead Faculty
  • Lecturer, Industrial & Operations Engineering

What's Next?

CERTIFICATE

Lean Product Development

Bring your best ideas to market as effectively and quickly as possible.

CERTIFICATE

Lean Manufacturing

Dramatically reduce time from customer order to product delivery.

Scroll to Top

Become Our Next Partner

We want to build relationships with people and organizations and welcome the opportunity to connect with you.

Please submit form or call (734) 647-7200 to get started.