What does cost reduction mean?
Definitions for cost reduction
cost re·duc·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word cost reduction.
Wikipedia
Cost reduction
Cost reduction is the process used by companies to reduce their costs and increase their profits. Depending on a company’s services or product, the strategies can vary. Every decision in the product development process affects cost. Companies typically launch a new product without focusing too much on cost. Cost becomes more important when competition increases and price becomes a differentiator in the market.
Numerology
Chaldean Numerology
The numerical value of cost reduction in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of cost reduction in Pythagorean Numerology is: 4
Examples of cost reduction in a Sentence
I was in a meeting with Dennis where he was quite specific about needing to get continued cost reduction from the suppliers.
Woodside Chief Executive Peter Coleman:
Unfortunately, with pricing falling away from us, that cost reduction doesn't get us to a breakeven price that's low enough for us to feel comfortable making an investment at this point in time, it's very disappointing in the scheme of things as this is a key part of our growth story.
We are not without our weapons. It's doable, and it depends on the vigor in which we pursue the cost reduction.
Today, we are announcing an increase to our 2018 cost reduction target from 3.5 billion Swiss francs gross savings to at least 4.3 billion francs, driving our absolute operating cost base below 18 billion francs by 2018. For 2016, we aim to achieve 1.7 billion francs in cost savings.
It's almost like a 80/20 rule – 80 pct of the cost reduction has already occurred, another 20 percent remains.
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"cost reduction." Definitions.net. STANDS4 LLC, 2024. Web. 7 May 2024. <https://www.definitions.net/definition/cost+reduction>.
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