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Cost Reduction
Cost cutting is no longer the solution to sustainable profitability, the key to success is finding creative ways to prevent cost.
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Obtaining agreement
Analysis
Selecting a solution
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Developing Solution.
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FishBone Diagram
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Cost reduction
Cost reduction
Set realistic goals Develop cost reduction
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3. Assembly outsourcing
4. Standardization
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Precautions in Implementations
1) Must be planned soundly . 2) Appropriate to organization. 3) Requires cooperation and coordinated efforts. 4) Reluctance should be recognized and dealt with. 5) Programs should be clearly communicated. 6) Should not have undesirable effects on external parties. 7) Unnecessary costs can be reduced not eliminated. 8) Is expensive and complicated To implement.
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1. 2. 3. 4. 5.
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6.
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HP COMPUTER
1. 2. 3. 4. 5. 6. The share ownership plan discount scrapped Reducing work hours for trainees. Delay in freshers joining the company. WFR carried out. Paycut of 5%. Annual shutdown of a week extended to a fortnite
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INTEL CO.Lt d
1.
2. 3.
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4. 5. 6.
Shutting down older fabrication units. Freeze in hiring. Reduced travel expenses,using video chats &voice chats as alternatives. Reducing/reusing inventory. Increasing personal awareness. Avoiding discretionery expenditures.
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BOMBAY DYEING
1. Introduction of new cost effective technology. 2. Process re-aligning. 3. Re-engineering of product 4. Restructuring of workforce. 5. Rationalising input costs
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LOGO
Librio Group