Olympus Optical Co. Ltd., a Japanese camera manufacturer applied cost-management techniques throughout the product life cycle of its Stylus Zoom and achieved significant cost reductions. The techniques employed included: 1. Target Costing. The company identified the price point at which a new camera model would sell, determined the free-on-board price and established its target cost; 2. Product-Specific Kaizen Costing. The company used this technique to enable the rapid redesign of a new product...

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14.3.2 Implement an improvement approach/method/technique

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