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How is the management impacted by the reduction in cost of hardware with time?
Wiki User
∙ 16y ago
how the management is impacted by the reduction in cost of hardware with time
Wiki User
∙ 16y ago
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Discuss how cost behavior analysis is important to management of an organization?
what techniques can be used for cost reduction.
What is the Difference between cost management cost control and cost reduction?
Cost Control simply means keeping cost within desired level or planned level and the essential mechanics of Cost control is budgeting and budgetary control. Cost reduction on the other hand is a deliberate attempt to lower the cost of business operation which in most cases could result in value trade-off. Cost Management however is that planned, organised, systematic cost restructuring programmes aim to ensure that cost is commensurate with the level of operation of an organization. It can also be defined as the planned effort to ensure that organization operates within cost effective and efficient zone without compromising quality or value. Therefore the key line dividing cost reduction and cost managemnet is the issue of value or quality. In the process of Cost Management Cost would be reduced but without compromising value but not all cost reduction process guarantees value retention. The success of any cost management effort is influenced by the cost management mindset and cost management technical skill capacity of the Manager. Today, given the importance of cost to the survival of organization, it has been advocated that there should be adequate capacity building in the skill to manage cost as well as a full institutionalization of the distinct practice of cost management as a discipline. This I subscribe to.
What has the author Bernard T Lewis written?
Bernard T Lewis has written: 'Management guide for maintenance cost reduction' -- subject(s): Factory management, Plant maintenance
What are the cost reduction measures taken by manufacturing firms?
about cost reduction
What has the author Herbert K Witzky written?
Herbert K. Witzky has written: 'Modern hotel-motel management methods' -- subject(s): Hotel management, Motel management 'Practical hotel-motel cost reduction handbook' -- subject(s): Hotel management
Needs of inventory management?
Inventory Management helps in the followoing:Right product/material in right quantity at right timeMeeting the material/product requirement efficiently.Maintaining optimum inventory levelReducing cost of stock in hold by maintaining optimum level of inventory.Overall reduction in unit cost
What services does Auditel UK offer?
Auditel UK offers the following services: cost management, waste reduction and freeing up resources. According to the company's website, central to its offers is cost evaluation software.
Cost reduction strategies?
A cost reduction strategy focuses on reducing an organizationâ??s cost and increasing their profits. This strategy can vary from one organization to another depending on where they can reduce cost.
How do you balance cost reduction and quality maintenance while outsourcing?
how you would balance cost reduction and quality maintenance while outsourcing
Importance cost management in a project?
Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.
Cost reduction initiatives in relation to services rendered?
National Cost
What is the difference between cost minimization and cost reduction?
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