Cost Reduction and Control

This is an important area of business decision with respect to product or process or pattern or like including promotion of its sale. In some organizations, there are regular programmes to make employees cost conscious such that everybody does his bit to reduce and control costs, keeping in view the norms of cost-efficiency and effectiveness.
 
In this context, the accountant’s classification of avoidable vs unavoidable or controllable vs uncontrollable costs serves as a useful manual. It may however, be noted that there may be absolute and relative cost’s reduction and reduction is not always an element of optimum control. To control telephone bills, the easiest and abuser; the feasible proposition is not to reduce the bill to zero, but to attempt a relative reduction by monitoring telephone calls. Sometime ABC analysis or value engineering is an attempt towards costs control, so are DECT and CPM techniques to find out optimal cost activity path.

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