Cost Reduction Strategies

The word “Cost Reduction” usually sends shivers to any employee as the first thing that comes on their mind is they may be next in line to be retrenched (worst case scenario). Alternatively, a cost reduction exercise may case many existing privileges to be removed. Thus, any cost reducing exercise sends an initial negative response to most. However, in this book, the cost reduction tips and pointers outline how any manufacturing company can reduce their costs significantly by using concepts used in Japan and many other developed countries for years. Activities such as Gemba Kaizen (continuous improvement), Six Sigma, and others are pointed out as how you can use them. All these activities are supported with relevant exercises using Microsoft Excel with key chapters on using some of the more useful built-in functions.