Cost and Value Engineering | Siemens
Cost and Value Engineering at Siemens AG
Siemens AG, a global company with a focus on electrification, automation and digitalization, leverages the Teamcenter solution for product costing as the technological core of the cost and value engineering ecosystem.
The goal for Siemens is to:
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- Provide outstanding customer value at best cost to maintain competitiveness and profitability of products and solutions
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- Make appropriate design decisions early with focus on both value and cost
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- Unveil savings potential along the entire supply chain
To support this goal, Siemens is rolling out a state-of-the-art cost and value engineering across all divisions. The cost and value engineering approach helps Siemens to build precise analytics and strong judgment on expected cost. In fiscal year 2016, cost and value engineering projects covered around € 3.4 billion of Siemens’ purchasing volume; and Siemens is planning on increasing it more than € 5 billion by 2017, and more than € 12 billion by 2020.
“Our goal is to significantly increase cost and value engineering coverage,” says Dr. Ralf P. Thomas, chief financial officer at Siemens. “A key success factor is the increasing internal use of our Teamcenter software for product cost management.”
Read the whole story and learn how Teamcenter Product Cost Management enables Siemens to evaluate processes analytically to drive optimizations and to implement efficient change management.
