Hi.
Greeting!
Please could you provide two examples of when you have achieved cost savings in an organisation?
Thanks
Menu
Cost saving
Replies (4)
When you implement a good quality control, then any detective goods that get produced will eliminate by keeping proper checks on production.
It depends upon many factors. Just follow off performance management and you will observe many things which you can achieve. However, there are no formulas to do magic.
A higher rate of interest loan paid off with a lower rate of interest loan. Evaluating whether to start a factory canteen vs appointing a third party caterer. Maintaining a dollar bank account to avoid conversion costs for export Receivables and import payables etc etc
These are also good measures, Finance side and quality side. Then you can improve on governance to reduce any agency costs. It's simply like when ever you give a check to your creditor, find out what are the other alternatives you could have chosen to reduce that cheque into half. You will automatically know what to do.
Recent Topic
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
- Tds on deceased's pan
- Exempt income declaration schedule EI in ITR2 (AY2
- Mold cost invoice in GST return
- WhatsApp document sharing: Client sends Aadhaar, P
- GST Registration Cancelled for Non-Filing Returns
- DPDPA Compliance for CA Firms: The 10 Client-Data
Related Topics
CAclubindia
