How you control a product cost?

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How can production cost be reduced?
Posted by:
Nwankwere Obinna
28-July-2017

PMO Cost Management PMP Leadership Project Management

Question added by Fredy Makram Labib , R&D manager , Universal for home appliances
Date Posted: 2015/04/23

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1 Answers

Md. Moshiur Rahman Sumon

by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

It is really a biggest challenge to control a product cost. I think it comes true by followed way

A) Control in all direct material and labor efficiency because all other fixed cost does not influence

B) Material usage efficiency

C) Keep eye on Economic Order Quantity

D) By efficiency at engineering and production operation

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