Cost Management

 04/09/2020
By Dr. Alin Posteucă

Companies that do not control their costs do not stay in the market. Are everyone in the company aware enough of the importance of costs in these times? How can you double your profits? Can you sell and produce twice as much? Could your company grow to double the current size in the same market? Well…. you don’t have to!

By reducing unit costs by just a small amount, you can double your profits without the need for a single new customer and without creating a single additional product. You won’t have to hire more people, enter new markets or get a new production space – just focus on being more effective and efficient with what you already have. In any company there are numerous opportunities to reduce costs without affecting customer satisfaction. Improving costs is much more than controlling and cutting costs.

True cost management means:
– deep and continuous understanding of costs,
– good cost design,
– identifying opportunities for cost improvement, and
– last but not least, the choice of the best ways to improve costs.

Do you think this is the healthy approach in these difficult times?

Source: Alin Posteucă on LinkedIn

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Dr. Alin Posteucă is a consultant in productivity and profitability, CEO of Exegens® and the author of Manufacturing Cost Policy Deployment (MCPD) and Speed-Based Target Profit (SBTP) concepts. His major research areas include manufacturing policy deployment, manufacturing cost improvement and visible profitability of operational excellence by improving productivity. His recent research includes the impact of Industry 4.0 on planning and developing synchronous profitable operations and on information systems of cost and budget in order to substantially improve the operational unit costs.

He has been actively involved in various industrial consulting and training projects for more than 20 years, delivering training/ workshop programs in Productivity, Innovation, Business Transformation and Leadership for over 5,000 participants.

He has a Ph.D. in Industrial Engineering and a Ph.D. in Managerial Accounting. He has an MBA Degree and a BA Degree in Accounting and Computer Science and he is certified Public Accountant in Romania. He has published in various research journals and presented papers at numerous conferences and congresses regarding Productivity, Profitability and Industrial Engineering.

Dr. Alin Posteucă is the author of Manufacturing Cost Policy Deployment (MCPD) and Speed-Based Target Profit (SBTP) concepts, published in four books at Productivity Press – Routledge/ CRC, New York (USA).