Naslov
Development of an Integrated Strategic Cost Management Model

Autori
Potnik Galić, Katarina ; Štavlić, Katarina ; Đokić, Kristian

Izvornik
Montenegrin Journal of Economics (1800-5845) 19 (2023), 1; 83-93

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Strategic cost management, integrated cost management system, modern cost management methods, profitability

Sažetak
The individual application of strategic cost management techniques has shown significant shortcomings in calculating total costs and assessing product profitability. Therefore, there is a need for a comprehensive decision-making system that would integrate modern cost management techniques to calculate product life cycle costs, which is increasingly being affirmed. The possibility of integrating different cost management methods in this paper is conducted to develop a model for integrated cost management and a systematic presentation of techniques for practical application of modern cost management methods at all stages of the product life cycle. This paper aims to provide guidelines for developing, implementing, and applying an integrated cost management system, emphasising its application in the new product development process and proving that this model contributes more to business results than individual methods. The subject of research is the possibility of integrating modern cost management methods. The aim of this paper is to propose a unified model of strategic cost management aimed at the integrated application of modern cost management methods. In this context, the research hypothesis is as follows: a cost management model that integrates modern cost management methods reduces costs of the product and increases product profitability. This hypothesis has been proven by several scientific methods, the most important of which are analysis, comparison, mathematical and statistical methods, modelling and simulation. After conducting research using the above scientific methods, it was proven that integrated cost management systems more objectively assess the total cost of products. They also reduce total costs and thus increase product profitability.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Informacijske i komunikacijske znanosti

POVEZANOST RADA