Estimate and Calculate Costing for Packaging

Brief: There are multiple ways to estimate a product cost. The lecture gives a brief introduction to students about various ways cost estimation can be done, what kind of tools and methods can be used to do the same. 

Further Study: A reference study from the International Journal of Technology is provided for students who want to read further in depth about this.

Learning outcomes: After this lecture students will be able to

• Identify various methods of cost estimation

• Provide context - which scenario demands what method

• Exemplify each method with a real life situation