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TRAINING

Financial management
Demo | Guidelines for future training

 Unit 3: Cost Reduction


[ Keywords: cost reduction ]


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Unit 3: Cost Reduction
  Definition
  
  Areas of Cost Reduction
  Cost Control: Definition
  Differences between cost control and cost reduction
  Cost control is effected through budgeting & standard costing
  Techniques of cost reduction
  Activity Based Cost management (ABC):
  Just-in-time approach: (JIT):
  Total Quality Management: (TQM)
  Non-Conventional Approach
  Non-Conventional Approach (Contd)
  Non-Conventional Approach (Contd.)
 

Definition

•Cost reduction refers to the real and permanent reduction in the unit cost of the goods manufactured or services rendered.