Name:- Indrajit Sorte

Div:- A Roll No:- 22

Class :- M.com
Sub:- Cost Control And Cost System

Topic:- Impact of technology Development

on Desinging costing system and
installation
Introduction

Technological advancements
are revolutionizing costing
systems in design, leading to
significant impacts on
businesses. This presentation
explores the latest trends and
their implications for cost
management.
Traditional Costing Systems

Traditional costing systems rely

on manual data entry and
estimation, leading to
inaccuracies and inefficiencies.
These methods are becoming
obsolete in the face of
technological advancements.
Emergence of AI and Automation

The emergence of AI and

automation has streamlined
cost estimation and analysis
processes. These technologies
enable real-time data
processing and predictive cost
modeling, enhancing accuracy
and efficiency.
Integration of 3D Printing

The integration of 3D printing

has revolutionized the design
and manufacturing processes,
leading to cost savings and
rapid prototyping. This
disruptive technology has
reshaped traditional cost
structures in product
development.
Blockchain and Supply Chain Management

Blockchain technology is
transforming supply chain
management by providing
transparent and secure cost
tracking. This innovation has
the potential to eliminate
inefficiencies and reduce costs
in the supply chain.
Cloud-based costing solutions offer scalability and accessibility,
allowing businesses to manage costs effectively across multiple
locations. This shift from on-premises to cloud-based systems has
revolutionized cost management.
The adoption of new technologies presents both challenges and
opportunities in cost management. Businesses must navigate issues
such as data security while leveraging the potential for cost
optimization and innovation.
Future Trends in Costing Systems

The future of costing systems is

poised for further
transformation with the
integration of advanced
technologies such as machine
learning, augmented reality,
and IoT. These trends will
continue to reshape cost
management practices.
Case Studies: Successful
Implementation

Real-world case studies

demonstrate the successful
implementation of advanced
technologies in costing
systems. These examples
showcase the tangible benefits
and competitive advantages
gained through technological
integration.
Conclusion

The impact of technological

advancements on costing
systems is undeniable, offering
unprecedented opportunities
for businesses to optimize
costs and drive innovation.
Embracing these changes is
essential for staying
competitive in the evolving
landscape of cost
management.