Introduction

TCM Framework provides a holistic view of the TCM Philosophy. It encompasses the concepts gained from more than 2 decades of exposure from various sectors and industries.

The version 0 was launched in the Cost Congress 2018 and the version 1 was launched in Cost Congress 2019.

TCM improves the “mileage” of the value chain

As businesses adapt to customer centricity, value emerges as the key differentiator. Business models that continuously deliver more value vis-à-vis cost incurred to the targeted customers emerge as winners. TCM recognizes that cost is incurred while creating value, so it explicitly incorporates the cost dimension as part of the value creation process. Managing costs while creating value is a necessity in competitive markets. There will always be an imperative to manage costs, in parallel, there should be initiatives to increase the value per unit of cost. Conventional cost accounting ends up not focussing on value creation. TCM integrates the two by seeking opportunities to improve the value while managing costs.