Healthy company is determined in its ability to reduce costs. Expenses, unbalanced or incorrect can liquidate the company. Therefore, the focus on cost reduction is essential to business activity.
Cost reduction definition: The process of looking for, finding and removing unwarranted expenses from a business to increase profits without having a negative impact on product performance, Quality & Reliability.
Company will engage in a periodic cost reduction drives in order to make the company’s operation more efficient and boost profits affecting on P&L.
Various opportunities for cost reduction:
- Design
Electrical, Mechanical, Technological, Functional Design
- DFX
Design for Manufacturing, Testing, Reliability, Environment, Service, Usability… - Improving Quality & Reliability
- Lean Production
- Standardization
- Sourcing
- Deployment
- Maintenance
