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Formulation of inventory policy is an important element?

Computations, which balance the cost to order the item against the cost to hold ... 6 Most Important Techniques of Inventory Control System.


Why to control cost and budget?

It is important to control cost and budget that a business is able to stay open and profitable over a length of time. Keeping costs down and profits high is essential for the longevity of a business.


What are the necessities of cost accounting?

Basically, cost accounting is an area of accounting that measures, records & reports the product cost. It is important or necessary generally for 2 purposes. 1. determine cost. 2. control cost.


What is the importance of control?

Quality control is important so that inferior products do not get to the customer. Also, fixing a quality problem early is going to save dollars from the cost of materials.


What is food cost control?

Food cost control refers to the measures that are put in place to control the prices of food.


What is the importance of quality control?

Quality control is important so that inferior products do not get to the customer. Also, fixing a quality problem early is going to save dollars from the cost of materials.


Importance of cost control in project management?

Importance of cost control in project management?


What is the importance of Cost management in recession?

Cost management will allow you to control a budget and allow to forecast in order to project the cost and being able to use those resources more efficiently in other things. In time of recession, resources become limited and it is very important to be on budget and not over spent. Cost managent allows to control your resources more efficiently.


What is Project cost control vs approved budget in project management?

Project cost control is comparing the actual project cost against planned project cost.


Why are smart systems important in small business's?

Smart systems are technologies that can enable a business increase performance, minimize size, and reduce cost. These aspects are all important for a business to be in control of.


Why was Stalingrad such an important place to control?

why was stalingrad such an important place to control


What challenges are faced by managers in the process of project cost control?

There are numerous challenges that are faced by managers in the process of project cost control. It is hard to ascertain the exact quantity and cost of the entire project and cost control becomes quite a task.