.The Japanese make use of extensive databases
of such information ('cost tables') to systematically assemble the cumulative
experience and capabilities of the company. This type of information is
largely absent from UK industry. However, the move towards activity-focused
costing systems may form the basis for the accumulation of predictive
cost databases that can serve this role.
Cost Control in the Design Phase
The main lesson for effective cost control learned
from a life-cycle view, and reflected in the Target Costing approach
is that in today's knowledge-intensive industries nearly all the decisions
that ultimately determine the cost of a product (and hence its ability
to succeed in the market) are determined in the design phase.
