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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.

Cost reduction strategiesEdit

ReferencesEdit

  • Barrett R. Crane. "Cycle time & cost reduction in a low volume manufacturing environment". MIT DSpace.
  • Apichart Jearasatit. "Using a total landed cost model to foster global logistics strategy in the electronics industry". MIT DSpace.
  • Bryan K. Parks. "Cost and lead time reduction in the manufacture off injection molding tools". MIT DSpace.

See alsoEdit