cost management

Cost Reduction in Manufacturing

Cost Reduction in Manufacturing
Cost Reduction in Manufacturing Industry  "Costs do not exist to be calculated. Costs exist to be reduced" - Taiichi Ohno In this age of aggressive competition, manufacturing companies are struggling to improve their bottom lines. Hence it is imperative to achieve cost reduction in key business processes such as production, procurement, inventory, and so on, to ensure and improve profitability. What is Cost Reduction? Cost Reduction is the process to identify and remove unnecessary expenses from businesses to increase profits without impacting product quality. I recently had an oppor...
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