Sustain the Core

1 Minute Idea: Cost avoidance is better than cost reduction

[vc_row][vc_column][vc_column_text] According to Arno Hiller [1], an authority in Product Cost Management: Controlling costs is a challenge for manufacturing companies. The two strategies for controlling costs are “cost avoidance” and “cost reduction.” Most companies focus on cost reduction, instead of cost avoidance. Solely focusing on cost...

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