The principle of 'Survival of the fittest' remains valid in the present global economy characterized by the presence of ever changing business environment. Every business needs to struggle for existence and growth.
One surest way to achieve this is to offer best quality of product at reasonable rate, which suits well to the requirements of target customer. If you are looking for the best inventory group management firm then you are at the right place.
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To impart a feeling of delight in the minds of consumers and provide quality product at reasonable price manufacturer has to bring shift in his emphasis from mere cost ascertainment to cost reduction to reduce cost of production.
From this Supply Chain Management is a prominent tool to reduce costs. There are number of strategic cost management techniques available like Supply Chain Management, Business Process Re-engineering, Total Productive Maintenance to reduce cost.
Supply Chain Management has become a very powerful technique for improving responsiveness to changing business conditions and improves the competitiveness of the organization.
In this time of intense competition, and an increasingly global economy, to survive and grow, organizations must increase their market responsiveness and become cost-competitive.
Supply Chain framework is a method of breaking down the value creation activities related set of basic raw material/component suppliers for the supply of the final product to the customer/consumer.
There are number of cost reduction techniques available for management to reduce cost which ranges from Man Power Reduction , Strict supervision , compromise with quality , Overtime work etc .