Center for Strategic Cost Management

The Society of Cost Engineers https://lnkd.in/gvqPMR7 has a new blog by one of our board members, Doug Howarth . On November 21, 2024, at 0900 PT, Doug Howarth will present a webinar featuring Hypernomics and their flagship software program, HypernomicaTM. Hypernomics is an advanced economic modeling system that expands on traditional supply and demand concepts by incorporating multi-dimensional data to reveal deeper insights into market dynamics and value creation. Unlike standard economics, which typically focuses on two-dimensional supply and demand curves, Hypernomics analyzes multiple variables simultaneously—such as price, demand, value, costs, and more—allowing for a richer, more complex understanding of economic systems. Critical features of Hypernomics include: 1. Multi-Dimensional Analysis: It examines the relationships between several factors at once, revealing interactions that would be invisible in a standard two-dimensional analysis. 2. Market Gap Identification: Hypernomics helps pinpoint open spaces or "gaps" in the market where demand exists but supply is limited, or vice versa, making it valuable for identifying growth opportunities. 3. Predictive Power: By capturing complex interrelationships in the data, Hypernomics can provide more accurate predictions about market trends, potentially leading to more intelligent investment or business development decisions. 4. Efficiency and Cost Savings: By optimizing resource allocation across multiple dimensions, Hypernomics can highlight areas where cost savings are possible without sacrificing value. Agencies and firms not using this ground-breaking approach risk falling behind those that do. Please join us for this exciting opportunity to be part of the future. Please sign up here: https://lnkd.in/e4YgBUiP

The Society of Cost Engineers is proud to announce an upcoming webinar with Hypernomcs. On November 21, 2024, at 0900 PT (12:00 New York), Doug Howarth?will present a webinar featuring?Hypernomics?and their flagship software program,?HypernomicaTM. Signup here: https://lnkd.in/e4YgBUiP Hypernomics?is an advanced economic modeling system that expands on traditional supply and demand concepts by incorporating?multi-dimensional data?to reveal deeper insights into market dynamics and value creation. Unlike standard economics, which typically focuses on two-dimensional supply and demand curves, Hypernomics analyzes?multiple variables simultaneously—such as price, demand, value, costs, and more—allowing for a richer, more complex understanding of economic systems. ? Critical features of Hypernomics include: 1.?????Multi-Dimensional Analysis: It examines the relationships between several factors at once, revealing interactions that would be invisible in a standard two-dimensional analysis. 2.?????Market Gap Identification: Hypernomics helps pinpoint open spaces or "gaps" in the market where demand exists but supply is limited, or vice versa, making it valuable for identifying growth opportunities. 3.?????Predictive Power: By capturing complex interrelationships in the data, Hypernomics can provide more accurate predictions about market trends, potentially leading to more intelligent investment or business development decisions. 4.?????Efficiency and Cost Savings: By optimizing resource allocation across multiple dimensions, Hypernomics can highlight areas where cost savings are possible without sacrificing value. Agencies and firms not using this ground-breaking approach risk falling behind those that do. Please join us for this exciting opportunity to be part of the future. Registration: https://lnkd.in/e4YgBUiP

A McKinsey & Company #procurement report reveals that of the 35 chief procurement officers (CPOs) surveyed, the highest priority for high-value analytics was "procurement as the owner of the single-source-of-truth platform for external cost." The report also found that companies are currently utilizing less than 20% of available procurement data. ?? Read the #McKinsey report: https://lnkd.in/ekhf3rr5 Our new report, “?? ?????? ?????? ???? ???????????????? & ???????????? ?????????? ????????????????????: ???????? ???? ?????? ?????? ????????????????,” expands on these findings, outlining the full scope of sourcing and supply chain management.?Organizations will learn how to leverage data to: ?? Mitigate supply chain risks effectively ?? Streamline #supplychain management ?? Implement more strategic sourcing initiatives ?? Maximize sourcing opportunities and, most importantly, lower costs and improve #profitability ???? Read the complete #aPriori report: https://lnkd.in/eyGJNYVZ

Great meeting for the european Association for #Value #Management, #Value #Engineering. We plan the next conferences for #Value #Management, #Value #Engineering

We are excited to be a partner of this year's BME Value Day! Visit our booth to discover how we empower companies to reduce product costs right from the start. Our solutions ensure precise cost estimates, leading to more profitable projects and a competitive edge. Don’t miss FACTON's best practice session where we’ll showcase how #automation and integration are revolutionizing cost planning, enabling #CAD2Cost and emphasizing the critical role of cost engineers in the process. Mark your calendar for September 9-10, 2024, and join us at the BME Value Day! Register now: https://hubs.ly/Q02NhZPV0 #CostEngineering #CostManagement #BMEValueDay #FACTON Bundesverband Materialwirtschaft, Einkauf und Logistik e.V. (BME) BME Akademie GmbH

?? Want to deliver estimates that stakeholders trust? Our upcoming webinar on July 24 is exactly what you need! Join our Vice President of Product, Karen McRitchie, for her webinar "Delivering Estimates That Stakeholders Trust" where she will share effective methods for producing accurate and dependable estimates. ?? Save the date and register now: https://lnkd.in/exSRNnD7 This is a must-attend for professionals looking to gain stakeholder confidence and approval through reliable estimation techniques. ?? Don't miss out – register today! #Galorath #CostEstimation #ProjectManagement #DigitalEngineer #Webinar

Understanding the factors contributing to poor value in projects is crucial for effective decision-making and achieving optimal outcomes. Here's a condensed breakdown: - Lack of Information: Inadequate facts lead to decisions based on guesswork rather than data. - Erroneous Beliefs: Decision-makers may rely on misconceptions rather than facts, impacting project goals. - Habitual Thinking: Replicating past approaches without considering evolving needs or technology hampers innovation. - Risk Aversion: Fear of personal loss or failure discourages exploration of new methods or ideas. - Reluctance to Seek Advice: Failure to consult experts limits diverse perspectives and optimal solutions. - Time Constraints: Pressure to meet deadlines often prioritizes quick fixes over value-driven design. - Negative Attitudes: Resistance to change or overconfidence in one's approach impedes progress. - Changing Technology: Rapid advancements necessitate staying updated to leverage cost-effective solutions. - Strict Adherence to Requirements: Blindly surpassing standards can result in over-design and wasteful spending. - Performance vs. Cost: Balancing problem-solving with cost-effectiveness is essential for prudent decision-making. - Poor Human Relations: Communication breakdowns and interpersonal conflicts undermine project efficiency and value. In today's dynamic landscape, recognizing and addressing these challenges is vital for fostering innovation, efficiency, and value-driven outcomes. Let's prioritize informed decision-making and collaboration to optimize project success.?Book a free initial consultation now:https://lnkd.in/eAUAreDb #valueengineering #projectmanagement #vmn #vmcoach

If project estimation feels like a complex puzzle, especially when juggling different types of projects. Imagine a solution where clarity meets precision. SEER brings this balance to your project estimations, making them more accurate and easier to manage, no matter the project type. With SEER by Galorath, you get a user-friendly tool that simplifies even the most complex estimations, guiding you to more confident decision-making.

?? Regular followers of our LinkedIn page will remember that we recently announced the launch of our AI-enabled #ecodesign dashboard. But there's no substitute for seeing something in action. ?? Below, we're sharing a video detailing how the dashboard works in practice, letting you see how you can use Makersite’s product data models to make smarter design, material and sourcing decisions throughout your product development process. ?? Our ecodesign dashboard helps users to: ? Make better decisions based on multiple criteria ? See into the deep tiers of their supply chain ? Spend less time on disclosures ?? If you want to know more, book a demo at the link below now: https://lnkd.in/eqiU8FNS #AI #AIecodesign #productdesign #manufacturing

The Value Methodology follows a systematic process known as the Job Plan, aimed at enhancing project value through function analysis. Here's a breakdown of its sequential phases: - Information Phase: Review current project conditions and define study goals. - Function Analysis Phase: Define project functions and analyze for improvement. - Creative Phase: Utilize creative techniques to explore alternative function methods. - Evaluation Phase: Structured evaluation to select potential value-improving alternatives. - Development Phase: Develop selected ideas into actionable proposals. - Presentation Phase: Document and convey alternative adequacy and associated value improvements. Mastering the Job Plan empowers teams to drive impactful value enhancements in projects!? Interested in exploring how Value Engineering can benefit your project? Book a free initial consultation now:https://lnkd.in/eAUAreDb #vmninaus #valuemethodology #jobplan #projectmanagement #enhancedvalue