Search results “Product costing models”
Pricing Strategies - How to price a product
http://www.evancarmichael.com/support/ - SUPPORT ME :) Like this video? Please give it a thumbs up below and/or leave a comment - Thank you!!! Help me caption & translate this video! http://www.amara.org/en/profiles/videos/Evan%20Carmichael/ Eduardo Orellana: "Hi +Evan Carmichael I have a question for you, what happens if you've found a product or service that people need and it is extremelly valuable but are having a hard time deciding how much to charge people for it? "
Views: 87201 Evan Carmichael
Activity Based Costing Example in 6 Easy Steps - Managerial Accounting with ABC Costing
Clicked here http://www.MBAbullshit.com/ and OMG wow!I'm SHOCKED how easy.. Imagine your brand makes two types of mobile phone devices. They are each produced working with one machine. The maintenance cost of the apparatus is $100 a month. What percentage should each style of telephone share under the maintenance cost? In order to be "just", some will suggest that the cost must be divided 50%-50%. However, what if Phone A consumes 90 hours of the machinery, and Phone B uses only 10 hours of the apparatus? Should the cost remain to be split 50%-50%? As part of classic "allocated" costing, the cost should probably still be split 50%-50%. However applying the principle of Activity Based Costing, it needs to most likely be cut up 90%-10% for the reason that one phone type is based on 90 hours of the apparatus monthly while the other cell phone form typically only consumes 10 hours of the identical device. The foregoing technique makes use of "amount of activity" for being a function of costing, and not just "allocation" where accountants simplistically allot the costs by the same token.Needless to say, for any product or service, there are a lot more activities to consider, and not only the employment of a particular device. These varying activities which generally encounter a mark on cost are classified as "cost drivers". Cost drivers may appear in numerous varieties for instance machine hours consumed, number of inspections, hours spent on inspections, number of production runs, quantity of hours used up throughout production, quantity of setups, together with multiple others.In the case above, we simply used machine hours consumed. Inside a less forgiving example, we may additionally need to consider the number of inspections. Suppose Phone A solicited added inspections by enterprise engineers than Phone B? It goes without saying, a great deal more of the compensation of institution engineers really needs to be allocated to Phone A. Whereas, what if Phone B solicited a great deal more production runs than Phone A? Again, we would struggle to conveniently partition broad production costs among the two mobile phone types. To further complicate the problem, what if Phone A, irrespective of using far less production runs, solicited more production setups than Phone B? Evidently, the difficulty of appropriately allocating costs to each of the phone models can get incredibly exhausting. Having said that, this difficulty can be really worth the effort if it helps a business apply extra meticulous or more defined costs on items, which can be made use to help the company in its pricing methods. The beauty of Activity Based Costing is that it considers all these diverse costs and cost drivers in a timely fashion, granting an organization the competence to perform pretty defined costing inspite of such concerns. http://www.youtube.com/watch?v=PcjxRe4EsuY activity based costing, abc costing, what is activity based costing, what is abc http://mbabullshit.com/blog/activity-based-costing/
Views: 288261 MBAbullshitDotCom
Food Product Cost & Pricing Tutorial
Step-by-step directions on how to use the Small Food Business Food Product Cost & Pricing Spreadsheet tool to determine accurate product costs and create a profitable multi-channel pricing strategy.
Views: 205593 Small Food Business
Should Cost Modeling
When preparing for negotiations, the more information a procurement professional has about a supplier, the better chance of a successful outcome. Should-cost models are useful tools for determining a product's estimated price by itemizing processing costs, market input costs, and related assumptions. In this podcast, Claude Fidelin, Bryce Heller, and John Moyer describe the characteristics of should-cost models, when to use them, and how to create one. By spending time computing a should-cost model, procurement professionals can gain insight into a supplier's estimated profit margins.
Views: 7174 ATKPAS
Cost Calculations Using an Excel Spreadsheet.mp4
This video shows the cost calculations that are a part of the normal Econ 101 class. This is a normal part of the section that is often called the theory of the firm. It describes the process by which a price taker firm (a firm in pure competition) decides what quantity to produce given its costs and given some possible market prices that it will receive for the good it sells. This video uses tables to tell this story. Unfortunately this video is not an accounting video and will not be of much help in formulating a business plan. It is intended to explain one of the core sections of a principles of microeconomics class.
Views: 201328 mcneilecon
Activity Based Costing (with full-length example)
This video explains the process of Activity-based Costing and illustrates how Activity-based Costing is used with an example. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 165041 Edspira
IT service costing models
In an interview with Troy DuMoulin, Director of Product Strategy for Pink Elephant, you'll learn what an IT service costing model is and how organizations can use it to better measure IT costs based on service, rather than technology components. Karen Guglielmo, special projects editor for SearchCIO.com also asks Troy to comment on how companies can use a CMDB to achieve the benefits of service-based costing.
Views: 2303 ciomidmarket
Setting prices for services and products | Small business | lynda.com
You've just opened a business. What should you charge for your products or services? The four tips you'll learn in this video will help you get started. Watch the follow-up movies at http://www.lynda.com/Business-Business-Skills-tutorials/Small-Business-Secrets/156584-2.html?utm_campaign=jY_0vZ1kv48&utm_medium=social&utm_source=youtube-earned. This specific tutorial is from the Small Business Secrets series presented by lynda.com author Dave Crenshaw. This series covers small business topics such as getting started, writing a business plan, determining your most valuable product or service, hiring people, managing processes, documenting systems, bootstrapping, seeking funding, accounting, controlling costs and profit margins, marketing, creating culture, and more.
Views: 19173 LinkedIn Learning
Pricing Analytics: Optimizing Price
The “best” price for a product or service is one that maximizes profits, not necessarily the price that sells the most units. This presentation uses real-world examples to explore how Excel’s Solver functionality can be used to calculate the optimal price for any product or service. Downloadable slides are available from SlideShare at http://goo.gl/yGmGfq
Views: 49599 Michael Lamont
Software costing
Views: 45 白雲
Life cycle costing - How to calculate life cycle cost of product
Watch this video to learn the life cycle costing technique in few minutes.
Views: 10722 Accounting Notes
Designing for Cost -  Addressing Cost Challenges during Product Development
Join PTC for this On-Demand Webinar to hear best practices to enable better cost analysis during product development, and learn about PTC's new Windchill Cost solution. The webcast will cover: •Launching products at or under target cost •Rolling up product cost for different configurations of the BOM using different cost models •Providing cost visibility to the entire product development team •Trade-off analysis of cost and other product dimensions such as environmental performance Windchill Cost automatically incorporates product changes into cost analysis, and makes product cost analytics an integral part of the standard product development process. With Windchill Cost you can empower users to make smarter decisions and ensure that products meet all cost targets. Featured Speaker Jim Sweeney, PTC's Senior Product Management Director, presents the latest on PTC's solution for product cost analysis.
Views: 2012 GetProductiveNow
The IDEAL Cost Modeling Platform
IDEAL is the new standard for cost modeling. IDEAL is a cost modeling platform for developing and running advanced cost models. Cost models can help your business estimate costs for product development cost analysis, operations, marketing & sales, proposal development, as well as , capture future liabilities, analyze Profit & Loss (P&L) and Balance Sheet implications of capital expenditures, support feasibility studies (costs for alternatives, sensitivity analyses, and trade-off studies). With IDEAL, you can develop management estimates and capture company know-how from individuals throughout your organization for high-level business forecasting.
Views: 293 IDEAL Estimating
Production Possibilities Curve- Econ 1.1
In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching. Please subscribe. If you need more help, check out the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Views: 994771 Jacob Clifford
Linear programming - Problem formulation - Example 5 - Diet mix
In this video, you will learn how to formulate an Linear Programming model for a Diet mix problem.
Views: 74117 maxus knowledge
Product Profitability Analysis Template
Use Demand Metric's Product Profitability Analysis Template to analyze each product by: Product Name, Price, Unit Cost, Unit Sales, Revenues, Costs of Goods Sold, Gross Contribution, Marketing & Sales Costs, Product Profit/Loss, and Gross Margin. Then, view your Product Charts. Get this tool @ http://www.demandmetric.com/content/product-profitability-analysis
Views: 4183 Demand Metric
Pricing Strategy An Introduction
An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.
Views: 114604 Tine Wade
aPriori Automated 3D CAD Costing
Learn How aPriori's revolutionary product cost management software can rapidly generate detailed cost estimates using any 3D solid CAD model as the primary input. Costs can be generated for a wide array of manufacturing processes, such as: Sheetmetal Fabrication, Plastic Injection Molding, Casting, Machining, Forging, Powdered Metal, Gear Making, etc.
Views: 2338 aPrioriTech
Life-Cycle Cost Model, St Poelten - EPSA Best Practice
The Life-Cycle Cost Model project by the University of Applied Sciences in St. Poelten, Austria, has received a Best Practice certificate at the 2009 European Public Sector Awards in Maastricht. Interview with Hubert Fritz of St. Poelten university.
Views: 380 EURACTIV
Transportation Problem - LP Formulation
An introduction to the basic transportation problem and its linear programming formulation: *Transportation network model *Objective function *Constraints *Balanced & Unbalanced Transportation Problems *Dummy origin *Unacceptable routes *Constraints *Balanced Transportation Problem
Views: 109795 Joshua Emmanuel
How to calculate product costs using the Business Builder App
A tutorial on how to calculate the total cost of producing or selling your product. The tutorial uses the Business Builder Android App to simplify the process. You can download the Business Builder App on playstore using the link below: https://play.google.com/store/apps/details?id=com.my.businessbuilder Developer website: www.likhwa.co.zw For more information about the Business Builder App email [email protected]
Should-Cost Analysis- A proven solution for cutting sourced material costs
This video is a recording of a webinar on "Should Cost Analysis", a proven solution for cutting sourced material cost. It talks about the different types of "Should Cost Analysis" and its benefits, followed by a series of pointers on present-day market conditions and various cost drivers.
Views: 2808 GenpactLtd
Activity Based Costing Basics for ICWA- Royston Dias
Activity-based costing (ABC) is a costing methodology that identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each. This model assigns more indirect costs (overhead) into direct costs compared to conventional costing models. Aims of model With ABC, an organization can soundly estimate the cost elements of entire products and services. That may help inform a company's decision to either: Identify and eliminate those products and services that are unprofitable and lower the prices of those that are overpriced (product and service portfolio aim) Or identify and eliminate production or service processes that are ineffective and allocate processing concepts that lead to the very same product at a better yield (process re-engineering aim). In a business organization, the ABC methodology assigns an organization's resource costs through activities to the products and services provided to its customers. ABC is generally used as a tool for understanding product and customer cost and profitability based on the production or performing processes. As such, ABC has predominantly been used to support strategic decisions such as pricing, outsourcing, identification and measurement of process improvement initiatives.
Views: 1085 Royston Cajetan Dias
Webcast: Fair Product Cost
Purspective webcast: Fair Product Cost
Views: 261 Purspective
SAP EPM: Product Cost Forecast and Simulation with SAP Business Planning and Consolidation
In this SAP enterprise performance management (EPM) webinar replay, Rolf Sieberg and Guido Eichmann – SAP EPM product development – demonstrate a solution realized with SAP Business Planning and Consolidation 10.1 on SAP HANA to predict cost changes, margin impacts, and procurement requirements for potential future market conditions. Rolf and Guido’s presentation illuminates the ideal combination of SAP Business Planning and Consolidation with SAP HANA for on-the-fly simulations and what-if analyses. The session concludes with a Question & Answer with the presenters. Agenda: - Introduction w/ Rolf Sieberg - Overview: Product Cost Forecast and Simulation – 00:47 - Business Use Case – 05:20 - Architecture Layout – 17:13 - Demonstration w/ Guido Eichmann – 22:23 - Q&A – 41:12 Brought to you by the SAP Product Management Analytics Group - http://blogs.sap.com/analytics
Views: 4321 SAP Analytics
Excel Magic Trick 285: Markup On Sell Price Formula
See how to calculate Sales Price given Cost and Markup On Sales Price. Sells Price = Cost/(1-Markup On Sales Price) Base = Part1/Rate1 Base = Part2/Rate2 Base = Part1/(1-Rate2) Base = Part2/(1-Rate1)
Views: 191353 ExcelIsFun
Costimator with 3DFX - Cost Estimate from a 3D CAD Model
Costimator with 3DFX enables estimators to rapidly develop an accurate and consistent cost estimate, directly from a 3D CAD model. A quote that would typically take hours to develop without Costimator, can now be accomplished in just minutes. visit us: www.MTISystems.com
Views: 2523 MTI Systems
Activity Based Costing vs. Traditional Costing
This video discusses the key differences between Activity Based Costing and traditional costing systems in the context of managerial accounting. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 158068 Edspira
Subscription Affliction - Everything is $10/month
First 200 people to sign up for Brilliant get 20% off: https://brilliant.org/Polymatter Patreon: https://patreon.com/polymatter Twitter: https://twitter.com/polymatters Reddit: https://reddit.com/r/PolyMatter Discord: https://discord.gg/polymatter It seems like every business is now charging a monthly subscription, but, if done right, that’s not always a bad thing. *The end of this video includes a paid sponsored promotion. This company had no part in the writing, editing, or production of the rest of the video. Credits Music is by Varsity Star: https://varsitystar.bandcamp.com/releases and the Varsity Star Facebook is https://www.facebook.com/varsitystarmusic/ Blendle is a micropayment platform for articles/news mentioned: https://blendle.com and Inkl is the subscription platform for articles/news mentioned: https://www.inkl.com Furniture Subscription mentioned: https://www.livefeather.com Above Avalon on its subscription model: https://www.aboveavalon.com/notes/2018/5/23/above-avalon-subscriptions-turn-three Subscription Hell article that was on screen: https://techcrunch.com/2018/05/06/subscription-hell/ Ulysses App: https://ulyssesapp.com Autodesk: https://www.autodesk.com Change.org Petition for Adobe: https://www.change.org/p/adobe-systems-incorporated-eliminate-the-mandatory-creative-cloud-subscription-model Great indie apps mentioned: Drafts 5 http://getdrafts.com Sleep++ https://itunes.apple.com/us/app/sleep/id1038440371?mt=8 Overcast: https://overcast.fm BestPhotos: https://itunes.apple.com/us/app/bestphotos/id1168605247?mt=8 Threes: https://itunes.apple.com/us/app/threes/id779157948?mt=8 PCalc: https://itunes.apple.com/us/app/threes/id779157948?mt=8 (bananas included) Candy Crush Trademark: http://thegatewayonline.com/law/commercial-awareness/explaining-the-candy-crush-trademark-saga Trust Me, I’m Lying by Ryan Holiday: https://www.amazon.com/Trust-Me-Lying-Confessions-Manipulator/dp/1591846285 New News Companies: Blendle: https://blendle.com Inkl: https://www.inkl.com Indie, Niche & High-Quality Sites: Above Avalon: https://www.aboveavalon.com Kottke: https://kottke.org MacStories: https://www.macstories.net Sketch App: https://www.sketchapp.com Setapp: https://setapp.com Spotify/Hulu Student Subscription: https://www.spotify.com/is/student/ BoneBox: https://skullsunlimited.cratejoy.com http://www.nydailynews.com/news/national/blockbuster-texas-close-leaving-8-existence-article-1.3787683 https://www.digitaltrends.com/music/apple-music-vs-spotify/ http://www.nydailynews.com/news/national/blockbuster-texas-close-leaving-8-existence-article-1.3787683 https://www.mckinsey.com/industries/high-tech/our-insights/thinking-inside-the-subscription-box-new-research-on-ecommerce-consumers#0 https://www.forbes.com/sites/louiscolumbus/2018/03/04/the-state-of-the-subscription-economy-2018/#4d05659553ef https://www.techradar.com/news/the-future-has-a-subscription-fee-how-technology-is-changing-what-we-own https://tfl.gov.uk/modes/cycling/santander-cycles https://techcrunch.com/2017/09/06/scribd-nyt-bundle/ https://www.forbes.com/sites/valleyvoices/2017/05/17/not-so-new-promise-of-subscription-economy/#4a973dc64343 http://theweek.com/articles/697355/why-streaming-needs-subscription-bundles https://wwwimages2.adobe.com/content/dam/acom/en/investor-relations/pdfs/ADBE-10Q-Q118-FINAL-CERTIFIED.pdf https://ulyssesapp.com/blog/2017/08/ulysses-switches-to-subscription/ https://www.forbes.com/sites/louiscolumbus/2018/03/04/the-state-of-the-subscription-economy-2018/#6d768f0653ef https://www.mckinsey.com/industries/high-tech/our-insights/thinking-inside-the-subscription-box-new-research-on-ecommerce-consumers#0 https://medium.com/building-ulysses/why-were-switching-ulysses-to-subscription-47f80b07a9cd https://ia.net/writer/blog/ia-writer-5-from-raw-to-cooked-to-sushi https://medium.com/@drewmccormack/a-cash-cow-is-on-the-agenda-138a11995595 https://developer.apple.com/app-store/subscriptions/ https://journal.standardnotes.org/subscription-is-the-only-way-to-do-software-cb5474c00dc7 https://sketchapp.com/pricing/ https://blog.kissmetrics.com/excel-at-subscription-economy/ https://stratechery.com/2015/netflix-and-the-conservation-of-attractive-profits/ https://reasonstreet.co/business-model-subscriptions/ https://www.investopedia.com/ask/answers/042715/how-do-subscription-business-models-work.asp
Views: 763927 PolyMatter
Revenue, Profits, and Price: Crash Course Economics #24
How do companies make money? What are profits? Revenues? How are prices set? This week, Jacob and Adriene are talking business. Whether you're selling cars, pizza, or glow sticks, this video has pretty much all the information you need to run a business. Well, not really, but there's a lot of good stuff in here. *** Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 407757 CrashCourse
ABC Analysis
Thank you very much for viewing our video lectures. Join our Whatsapp Broadcast / Group to receive daily lectures on similar topics through this Whatsapp direct link https://wa.me/917736022001/?text=Subscribing%20Youtube%20Lectures Also check out our Social Responsibility Campaign where students can enroll in our CA/CMA/CS/CFA/CIMA/ACCA/Banking related Online Courses under "PAY WHAT YOUR HEART FEELS" Scheme. It means students can decide how much to pay for each course by considering 1) Value they derive 2) Affordability 3) Our efforts gone into course creation. Preview courses here https://carajaclasses.com/ Enrollment Form under PAY WHAT YOUR HEART FEEL Scheme https://carajaclasses.com/PAYHEARTFEELS.html Also install our android app CARAJACLASSES to view lectures direct in your mobile - https://bit.ly/2S1oPM6 -Team CARAJACLASSES "Never stop learning, because life never stops teaching" Did you liked this video lecture? Then please check out the complete course related to this lecture, COST ACCOUNTING A COMPREHENSIVE STUDY with 280+ Lectures, 29+ hours content available at discounted price(10% off ) with life time validity and certificate of completion. Enrollment Link For Students Outside India: https://bit.ly/2wiWgj8 Enrollment Link For Students From India: https://www.instamojo.com/caraja/cost-accounting-a-comprehensive-study/?discount=inycaacs2 Our website link : https://www.carajaclasses.com Welcome to Cost Accounting - A Comprehensive Study Course. Yes! This is a comprehensive course because you are going to learn all the following in this single course: a) Basics of Costing Accounting (22 Lectures covering Introduction to Costing, Cost Classifications and Cost Sheet) b) Material costing (11 Lectures covering covering Basics of Material Costing) c) Labour Costing (23 Lectures) d) Overheads Costing (18 Lectures) e) Standard Costing Techniques (13 Lectures) f) Standard Costing Variances (17 Lectures) g) Operating Costing (6 Lectures) h) Marginal Costing(30 Lectures) Altogether, you get to access 118 Lectures. So, how this course is relevant for you? If you a Professional course student in the line of Finance or Accounting, then you would have Cost Accounting as part of your major subject. This course will explain theory and practical concepts in Cost Accounting which will help you to excel in Academic Examinations. If you are an Accounting or Finance or Cost Accounting Executive, this course will help you to brush up you basics in Cost Accounting and all the contents have immediate practical relevance and application. With this course, you will be able to understand -basic concepts and processes used to determine product costs; -understand Cost Accounting Statements; -solve simple case studies.This course is structured in self paced learning style.Video lectures were used for delivering the course content. All the sections of this are also available as individual courses. If you aspire to gain strong foundation in Cost Accounting, then this course is for you. Happy Learning and Best Wishes! • Category: Business What's in the Course? 1. Over 138 lectures and 12.5 hours of content! 2. Understand Basics of Cost Accounting 3. Understand Material Costing 4. Understand Labour Costing 5. Understand Overheads Costing 6. Understand Standard Costing Techniques 7. Understand Standard Costing Variances 8. Understand Operating Costing 9. Understand Marginal Costing Course Requirements: 1. Basics of Accounting Who Should Attend? 1. Cost Accounting Students and Executives 2. Accounting Students and Executives 3. Finance Students and Executives 4. MBA Finance Students 5. B.Com., BBA, CA, CMA, CS, CFA, CPA, CIMA Students
Costing Without Complexity
aPriori product cost management provides a standard technology platform that can be used by engineering, sourcing, finance and manufacturing to understand how their daily decisions on new product initiatives, value engineering projects and sourcing strategies impact product cost. System users do not have to be cost experts to leverage the system, and it provides clear visibility to the cost of tradeoff decisions early in the design cycle.
Views: 1054 aPrioriTech
Food Costs Formula: How to Calculate Restaurant Food Cost Percentage
What is the food cost formula and how can you use it to calculate your restaurants food cost percentage. I will explain everything you need to know about food costing in this video. As a restaurant owner, manager, operator or chef, you have to know how to calculate your food cost so you can lower expenses and increase your profits. If you enjoyed this video and want more just like them including a free training series called the foundation to a lifetime of restaurant success. Click Here: http://TheRestaurantBoss.com To subscribe to my you tube channel, Click here: http://www.youtube.com/subscription_center?add_user=gromfinboss
Views: 532143 The Restaurant Boss
Factory to Market Cost Model: Linear Wine-Market Example
www.saseconomics.com In this video, we will develop a one input, one market (mill-to-port) linear model. By defining and summing Input Transport Cost and Output Transport Cost to get Total Cost, we will determine the optimal production location at either the Input location (I) or the Market location M. Effectively, our choice of an example is an Input Oriented Firm with weight losing production. Wewill determine that the optimal point of production should be at point I (the Input location). As we already know the solution, our discussion will concentrate on demonstrating why this is true. In our example, let us assume that this firm is a wine producer. Moving the input of grapes from the vineyards to a production site closer to the market, involves the cost of transporting the grapes at a constant ton-rate per mile. In contrast, if the wine is produced and bottled at the point of Input (I), the firm will incur a maximum cost for transporting their product. The closer to the market that they situate their production, the lower the transport cost for their bottles of wine. As with input, we assume that the transport cost per mile remains constant. In this graph, the slopes of the two lines imply that it is more costly per mile to transport fragile grapes with high water content than it is to ship cases of the finished product. By summing the input transport cost and output transport cost, we obtain Total Cost, the line in red. The location point at which Total Cost is lowest will be the optimal location at which to locate production. Because Total Cost is lowest at point M* such that the highest output cost is at the vineyard, the firm would do best to crush the grapes and bottle the wine at the vineyard, location I. For the mathematical side of our example, let’s assume that we need 50 pounds of grapes to make one case (12 bottles, each containing 750 milliliters of wine). A case of 12 bottles weighs 40 pounds. Given that one US (short) ton equals 2000 pounds, 1.0 ton of grapes would allow us to produce 40 cases (600 bottles) of wine. These 40 cases weigh .8 tons (1,600 pounds). Our basic assumption is that it costs more to transport 1.0 ton of grapes than .8 tons of wine. To keep our example simple, we assume: p bar is the price per ton of wine at the market, a is the cost per mile to transport a ton of grapes, b is the cost per mile to transport a ton of wine, w is the wage rate, L is the amount of labor needed to produce one tone of wine, R is the price of enough grapes to produce a ton of wine, x is the distance grapes are transported, y is the distance that wine is transported, z equals x plus y (the distance from point I to point M). Let Q be the quantity of packaged wine in tons. Profit equals Total Revenue minus Total Cost such that detail, Profit equals the Total Revenue minus Material Cost, minus Labor Cost minus Transport Cost. In this equation, p bar times Q equals Total Revenue, 1.0RQ is the cost of the grapes, wLQ is the cost of labor, and Q times the sum of 1.0ax (grape transport cost) minus .8by (wine transport cost). To solve our location problem, let’s first determine the optimal production quantity of the winery. We can express this condition in a number of ways. As the optimum occurs at the quantity that maximizes profit for the winery, its Marginal Profit must equal zero, the difference between Marginal Revenue and Marginal Cost must equal zero, or Marginal Revenue must equal Marginal Cost. Taking our profit equation from the previous slide, we differentiate it in respect to quantity in order to obtain Marginal Profit. If we rearrange our terms, we can express this condition as the constant price, p bar (in blue) equals the first derivative of cost which is 1.0 times the Rent plus wage times the amount of labor plus 1.0 times the rate per mile times the number of miles that grapes are transported minus .8 times the rate per mile time number of miles that the cases of wine are transported. However, this equation suggests that Marginal Revenue remains constant at p bar and the only variables on the Marginal Cost side are a, b, x, and y where the condition exists that the sum of x and y must remain equal to the constant distance between the vineyard and the marketplace. Therefore, the critical variables for the determination of the optimal location are a, the rate per ton-mile for grapes, and b, the rate per ton-mile for wine. Both transport cost functions are linear, though inversely related. The one for grape transport is positive while the one for wine transport is negative.
Views: 271 Video Economist
Use Excel for cost accounting analysis
Watch and learn how to export data from Cost accounting to Excel and then use PowerPivot in Excel to build reporting structure for cost analysis.  For more information, visit: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/cost-accounting-home-page?toc=/dynamics365/unified-operations/financials/toc.json
Views: 13149 Microsoft Dynamics 365
The $35,000 Tesla Model 3 Is Actually AMAZING
Music by https://soundcloud.com/ikson BECOME A PRO FOR GIVEAWAYS! ► http://bit.ly/cargiveaways NEW VEHICLE VIRGINS MERCH! ► http://bit.ly/Likegravity SUBSCRIBE TO VEHICLE VIRGINS ► http://bitly.com/2fTZGSm YESTERDAYS VIDEO! ► https://www.youtube.com/watch?v=hftjqKjUWtQ The $35,000 Tesla Model 3 is actually amazing... Follow VV on Instagram for behind the scenes! @VehicleVirgins https://www.instagram.com/vehiclevirgins/ PO BOX / Shipping Address Parker Nirenstein 2708 Wilshire Blvd #184 Santa Monica, CA 90403 Like us on Facebook! https://www.facebook.com/vehiclevirgins Family friendly Vehicle Virgins seeks to provide the most informative, relatable, funny automotive videos and reviews every day of the week. No matter what you drive, if you have a passion for cars or want to learn more about the amazing automotive community, join the VV community for a hell of a ride!
Views: 3538603 Vehicle Virgins
Nimble Competition: Aligning cost models with business strategy
Nimble Competition, June 11th 2015 • Online Sponsored by PWC Watch the summary of The Economist's one-hour complimentary virtual event to hear how companies can become more nimble as they face intense competition and shrinking budgets. In a world defined by economic pressures and shrinking budgets, being nimble is critical to stay competitive. How do you effectively manage costs, and best align budgets with resources? How can you improve your business’s margins, while ensuring that new cost models reinforce your long-term goals? In what ways do culture and structure impact costs? What are the trends with regard to where companies are investing? How can finance, operations and technology work together to support business strategy? To watch the full event please visit: http://live.wavecast.co/nimblecompetition/ Patrick Foulis US business editor and NY bureau chief, The Economist Rick Frazier Chief product supply & service officer, Coca-Cola Refreshments Rodger Howell Advisory principal, PwC Thomas S. Olinger Chief financial officer, Prologis
Views: 103 WithTheEconomist
3 Types of Manufacturing Costs (Direct Materials, Direct Labor, Manufacturing Overhead)
This videos identifies and defines the three types of manufacturing costs: Direct Materials, Direct Labor, and Manufacturing Overhead. The video also provides examples of each type of manufacturing cost to better illustrate the concepts. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 142468 Edspira
Free vs. paid: exploring the pricing model of free vs paid products
For more on pricing models and how to price your products, check out my business apps, books, coaching and courses: http://www.glowingstart.com In this tutorial I evaluate different pricing models. The biggest distinction is to decide whether the price of your product should be free or paid. If you set the price of your product for free, you position your business to have potential to get many customers. You can then try to convert some of those free customers to paid customers. And a small percentage of the free customers typically do convert to paid users. It is up to you to figure out how to make money from the people who get your product for free. One of the common ways to make money from the free users is to offer some paid product or service. Now, the question changes from whether the product should be free, to how much the product should cost. Once you begin thinking about how much a product should cost, the cheapest price and the price that consumers will respond to best is $0.99 but it is also a problematic price for you as a seller because how much money do you really make from such a sale? Business plan course https://www.youtube.com/watch?v=i19XAhb0-BM What is a business plan https://www.youtube.com/watch?v=T63QsuNIwZA What is a business model: https://www.youtube.com/watch?v=dsUz6lfXCkE How to make money with ads: https://www.youtube.com/watch?v=eAw7JowBjc8 Hiring tips and strategies: https://www.youtube.com/watch?v=LEPLs1dOBZg How to identify your target market: https://www.youtube.com/watch?v=loHvzCFnAvg What is KPI and how to use it in your business: https://www.youtube.com/watch?v=fx1x33DKmGc Do you need a business plan? https://www.youtube.com/watch?v=0kYxzkx6JJI How to price your product? https://www.youtube.com/watch?v=qN5No7ON5o0 The lean startup methodology by Eric Ries: https://www.youtube.com/watch?v=HYXTXHteY8Q Steve Blank's customer development theory: https://www.youtube.com/watch?v=_lkRDM8yXxU How to make money from a blog: https://www.youtube.com/watch?v=qrLvNkVVfZc How to deal with business competition: https://www.youtube.com/watch?v=SKcNJsybVsQ How to start a trucking company: https://www.youtube.com/watch?v=ql8jBXgDBT0 Business risk vs. product vs. market risk: https://www.youtube.com/watch?v=NlQgo1KYEqw How to write a business plan: https://www.youtube.com/watch?v=pTKvgsUrLGE
EngView packaging design software | Cost Estimator
The Cost Estimator is a module within the EngView’s packaging software that allows calculating production cost according to customer-set parameters and rules. By using different cost models, production cases such as layout production, diemaking projects and others can be addressed and estimated. All alternatives are based on fully editable cost models and are calculated automatically. The estimations take into account also the data regarding packaging designs from the Project Organizer. More information at: https://www.engview.com/en/engview/products/Cost-Estimator/
Views: 1306 EngView Systems
Calculating EOQ - Economic Order Quantity (Inventory Costs & Purchasing Costs)
http://www.driveyoursuccess.com This video explains how to calculate economic order quantity using the time-tested Wilson EOQ formula. The video provides a step-by-step process to defining the economic order quantity for any company. It takes into consideration the company's annual or yearly consumption, the price it pays for each unit it purchases for its inventory, the cost to make that purchase and finally, the company's costs to hold inventory on a monthly basis. Determining the annual or yearly consumption is fairly straightforward. Simply take a total of all the inventory of a given part used in a year. Next, take the amount your company pays for that part or raw material. Determining your company's costs to purchase doesn't merely involve totaling your total volume multiplied by price. Instead, it's more about defining what it costs your company to make a purchase. How much does it cost your company to purchase from a vendor? Your costs to purchase include time spent to approve and sign purchase requisitions. It also includes the time spent placing that order and sending it to your vendor. Next, the costs of inspecting the order are accounted for and finally, the costs of paying your vendor. The Wilson EOQ formula involves doubling your yearly consumption total and multiplying it by your company's cost to purchase. This amount is then divided by the sum of the raw material or part's price multiplied by its inventory holding costs. The Wilson EOQ formula is an excellent tool for making sure your company doesn't buy too much or too little.
Views: 133103 Ian Johnson
Augment - View & share your 3D models in Augmented Reality, on iPad, iPhone and Android
Augment is an end-to-end platform for configuring, managing, and viewing 3D models in augmented reality from concept to consumer. *Design - Streamline your design process and cut down the prototyping costs with augmented reality product visualization. *B2B Sales - Simulate your products effortlessly in real size in your customers' environment and drive sales. *Marketing - Bring print to life. Engage your audience in your augmented reality experience. *OmniCommerce - Allow your customers to try your products in 3D augmented reality at home before buying through their smartphones or tablets. Download Augment now on iPad, iPhone and Android. Visit http://augment.com to learn more and add your own 3D models.
Views: 796695 Augment
Platforms, the Sharing Economy, and Business Model Innovation
Gregory La Blanc Lecturer, Berkeley-Haas The rise of Uber, Airbnb and other "platforms" is part of a larger digital transformation of businesses, converting products into services, changing fixed into variable costs, shortening supply chains and development cycles, allowing for more flexibility and customization of products and pricing. All of this is made possible by lower costs of gathering, storing, retrieving, and analyzing data. Although there is much that is new in this transformation, there are many historical similarities with previous industrial revolutions. They all have at their core innovations in the organization of information that lead to more efficient allocation in the production process. This talk will explore the origins and nature of these innovations.
Cat® Product Link™ | Reducing Operating Cost (Portuguese Subtitle)
Every day, on every job, the pressure is on to do more with less. Fuel costs, maintenance and repair expenses, operator efficiency and site conditions all have an impact on the total cost of your operations. Cat® Product Link™ gives you easy, instant access to all kinds of data that can help you control and reduce these costs - while boosting efficiency and productivity. O Product Link pode ajudar bastante a manter o seu equipamento em otimo estado e a assegurar que ele esteja sendo usado da maneira adequada em uma area de servico bem mantida. Learn more at: http://www.cat.com/pt_BR.html
Views: 487 Cat® Products
What is Value Chain? Value Chain Definition, its Management and Analysis | AIMS Lecture
Lecture: What is Value Chain? http://www.aims.education/study-online/what-is-value-chain-definition/ As per Value chain definition, it is a model that explains how businesses receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers.
Views: 173283 AIMS Education - UK
Cat® Product Link™ | Reducing Owning and Operating Costs
Cat® Product Link™ - Every day, on every job, the pressure is on to do more with less. Fuel costs, maintenance and repair expenses, operator efficiency and site conditions all have an impact on the total cost of your operations. Cat Product Link gives you easy, instant access to all kinds of data that can help you control and reduce those costs - while boosting efficiency and productivity. Learn more at: http://www.cat.com/en_US/support/operations/technology/fleet-management-solutions/product-link.html
Views: 3371 Cat® Products