Hi Freinds, I am working in a steel manufacturing company. as an Accounts Executive in Kolkata.
In that global crisis moment, my boss told me to give him some suggestions about cost-saving planning in my field. Pls, help me to give some suggestions.
Thanks With Best regards.
Koushik Paul
From India, Calcutta
In that global crisis moment, my boss told me to give him some suggestions about cost-saving planning in my field. Pls, help me to give some suggestions.
Thanks With Best regards.
Koushik Paul
From India, Calcutta
Dear Kaushik,
Simple Quick solution : Being an accounts executive you must be having the list of cost drivers (refer your p&L statement). Drill them down, identify what can be improved (under organization's control ),prioratize and start working on them.
Long term solution: Cost reduction can be achieved through many ways. The best method is through waste elimination. The best approach for waste elimination (eliminating Non Value adding activities) is adopting LEAN Manufacturing principles.This is the secret behind companies like Toyota. It is difficult to explain how lean works through this mail but I am assuring you, the moment you start looking at wastes (from lean angle) you will straight away exceed all the cost reduction targets of your company.
Lean can be applied to both Manufacturing and Non-Manufacturing areas. Many Banks and IT companies adopted and seeing significant benefits.
So, why dont you give a try ?
I am happy to help with more informations on both lean and cost reductions if required
Regards-Ramesh
From Singapore, Singapore
5Simple Quick solution : Being an accounts executive you must be having the list of cost drivers (refer your p&L statement). Drill them down, identify what can be improved (under organization's control ),prioratize and start working on them.
Long term solution: Cost reduction can be achieved through many ways. The best method is through waste elimination. The best approach for waste elimination (eliminating Non Value adding activities) is adopting LEAN Manufacturing principles.This is the secret behind companies like Toyota. It is difficult to explain how lean works through this mail but I am assuring you, the moment you start looking at wastes (from lean angle) you will straight away exceed all the cost reduction targets of your company.
Lean can be applied to both Manufacturing and Non-Manufacturing areas. Many Banks and IT companies adopted and seeing significant benefits.
So, why dont you give a try ?
I am happy to help with more informations on both lean and cost reductions if required
Regards-Ramesh
From Singapore, Singapore
Hi, dear
not ur company but presently many of company trying to reduce their cost. i try to help u regarding cost saving. may be some of not applicable ur feedback is important. see friend first is commitnment is important. you or ur all employee must be commited to self. then cost is autometically reduce. pls follow some tips if required
1. when u goes for lunch then switch of lights fan.
2. also shutdown the computers.
3. if nessacery then use A/C.
4. Minimum use of four wheeler.
5. use onesided use paper for rough work.
6. if u take trail print then use onesided page use page.
7. when u send document one department to other department within the factory then use, used envolop.
8. according to inflation rate u decided the DA.
9. if u take tea or coffe three time or four time in a day then reduce it one time.
10. escape to unusable surfing at internet.
11. reduce to your phone use.
12. when you arranged any type of meeting then better to arrange it company's confrance hall insted of hotal or cafetariya.
13. escape to unnecessary xerox.
14. escape to wastage of food.
15. when u go for visit, then try to stay in less costly hotal.
Pls follow above some step. if any one have another point then shoot it.
BR/ Sudhir
:)
From India, Bhopal
not ur company but presently many of company trying to reduce their cost. i try to help u regarding cost saving. may be some of not applicable ur feedback is important. see friend first is commitnment is important. you or ur all employee must be commited to self. then cost is autometically reduce. pls follow some tips if required
1. when u goes for lunch then switch of lights fan.
2. also shutdown the computers.
3. if nessacery then use A/C.
4. Minimum use of four wheeler.
5. use onesided use paper for rough work.
6. if u take trail print then use onesided page use page.
7. when u send document one department to other department within the factory then use, used envolop.
8. according to inflation rate u decided the DA.
9. if u take tea or coffe three time or four time in a day then reduce it one time.
10. escape to unusable surfing at internet.
11. reduce to your phone use.
12. when you arranged any type of meeting then better to arrange it company's confrance hall insted of hotal or cafetariya.
13. escape to unnecessary xerox.
14. escape to wastage of food.
15. when u go for visit, then try to stay in less costly hotal.
Pls follow above some step. if any one have another point then shoot it.
BR/ Sudhir
:)
From India, Bhopal
Sudhir
your suggestions are so good , but these are short term remedies,cost reduction has become a major issue for business organizations now a days.
But remeber one thing always be proactive while taking any decision regarding cost cutting peoples may take it in a wrong sense .
major part of cost can be controlled through controling your operational costs like inventory managment,proper check and balance on purchases, and reduction in wastage rate,
at last no doubt a part of cost can be reduced through , switch off lights, proper use of stationery etc but the same has a very little impact on overall cost.
so always keep a good check & balance on operational expences this is the major source of cost reduction.
in case of any query do contact me
Regards,
Shahid Munir
From Pakistan, Lahore
your suggestions are so good , but these are short term remedies,cost reduction has become a major issue for business organizations now a days.
But remeber one thing always be proactive while taking any decision regarding cost cutting peoples may take it in a wrong sense .
major part of cost can be controlled through controling your operational costs like inventory managment,proper check and balance on purchases, and reduction in wastage rate,
at last no doubt a part of cost can be reduced through , switch off lights, proper use of stationery etc but the same has a very little impact on overall cost.
so always keep a good check & balance on operational expences this is the major source of cost reduction.
in case of any query do contact me
Regards,
Shahid Munir
From Pakistan, Lahore
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