The following tools and techniques are used to reduce costs: ● Budgetary Control ● Standard Costing ● Simplification and Variety Reduction ● Planning and Control of Finance ● Cost Benefit Analysis ● Value Analysis ● Contribution Analysis ● Job Evaluation and Merit Rating ● Improvement in Design ● Material Control ● Labor Control ● Overhead Control ● Market Research
The following tools and techniques are used to reduce costs:
● Budgetary Control
● Standard Costing
● Simplification and Variety Reduction
● Planning and Control of Finance
● Cost Benefit Analysis
● Value Analysis
● Contribution Analysis
● Job Evaluation and Merit Rating
● Improvement in Design
● Material Control
● Labor Control
● Overhead Control
● Market Research