Personnel aspects of cost reduction

  • 39 Pages
  • 4.22 MB
  • English
American management association , New York, N.Y
Personnel management., Industrial effici
Statementby Walter Dietz, E. J. Kessler, A. F. Kindall [and] Jeff T. Hopkins.
SeriesIts Production series,, no. 124
ContributionsDietz, J. Walter.
LC ClassificationsHF5549 .A7516
The Physical Object
Pagination39 p.
ID Numbers
Open LibraryOL6410479M
LC Control Number40033087

Details Personnel aspects of cost reduction FB2

Get this from a library. Personnel aspects of cost reduction. [J Walter Dietz; American Management Association.]. Discover the tools for knowing the costs your Personnel aspects of cost reduction book should cut, without impacting its ability to deliver goods and services New from Steve Bragg, this book provides the tools for determining which costs a company should cut, without impacting its ability to deliver goods and services.

It explains how to use throughput analysis in order to locate bottleneck operations in a company, which in Author: Steven M. Bragg.

Based on the author's cost reduction experience gained during 30 years of senior operations and consulting engagements with hundreds of organizations, this book includes easy-to-understand and easy-to-implement cost reduction concepts organized into five general areas --labor, material, design, process, and overhead.

Personnel and related costs are one of the largest expense areas for a significant number of NFPs. For discussion purposes, accounting and reporting personnel and related costs will be separated into three areas: classification of service providers (employee vs.

independent contractor), payroll processing and reporting, and accounting for payroll and related costs. Organizing a Cost-Reduction Program The Bottom Line You need a multidisciplinary team to attain signifi cant cost reduction.

Support from the top helps greatly. You will encounter resistance to the cost-reduction effort and there are risks associated with cost-reduction activities, but these issues can be overcome. The. The cost management process created will provide numerous benefits. Cost plays a critical role in regard to effective management.

Cost management allows organizations to be able to tell their customers the full cost of providing products or services as well as identify how changes in behaviors (theirs or their customers) affect these costs. The significance of cost reduction and cost control derived from its function in profit maximization.

Any organization that is successful using cost reduction and cost reduction can sell its product at a lower rate than its competitors without reducing its quality. Lockey () stated that, having price competitive.

Operating costs are those required for the day-to-day maintenance and administration of your business. People also commonly refer to operating costs as operating expenses, operational expenses, operating expenditures, operational expenses, or OPEX.

One of the primary components of operating costs is the cost of goods sold (COGS). Step 3: Determine Your Cost-Reduction Approach. Four cost-reduction approaches are predominant. Each approach varies as to its ideal application and time to implement.

Often, the best cost-reduction approach for an organization can be crafted using elements of each of the methods. Regardless of the cost-reduction method, an ideal approach should. Temporary pay cuts: Reducing salary costs is probably the simplest and most direct way to cut staffing costs without cutting staff.

The key to this strategy is to ensure that everyone — including senior managers — shares the pain. Many companies vary the percentage of reduction according to the amount of salary an employee is earning, with higher salaried workers surrendering a higher.

Human resource cost analysis is the study of behavior of cost in relation to one or more HR criteria. Controlling manpower costs has now become important for organizations, particularly when we are required to look within for cost savings to sustain organizational growth and enforce control on HR costs, it is essential to develop a check-list at the outset.

Today, businesses and government agencies alike are demanding greater visibility into project and program performance. With tighter budgets than in days past, stakeholders need confidence that funds are being well spent.

As a result, project controllers are called upon to deliver timely information that can proactively shape business decisions. If a careful plan of cost reductions can be implemented over several years, the results will be much less painful than if the reduction must be made in the current operating budget fiscal year.

Goldstein () urges institutions to routinely plan for budget reductions. "Cost-Benefit" Analysis Applied to Personnel/Human Resource Management Decisions.

Abstract [Excerpt] Every model for improving quality in manufacturing or service emphasizes the need to understand customer or client needs, measure achievements in terms of those needs, and use. Human Resource costing is an important and established mechanism to manage cost.

However, there is an important aspect that you should keep. We started this article by stating that HR is often seen as a fee burner. The risk is that HR focuses too much on cost reduction and efficiency.

In the end, HR shouldn’t be judged by cost efficiency. Book • Browse book content Alkaline, acidic, and solid oxide-based water electrolysis processes are described. Cost reduction strategy for production of electrolytic hydrogen is discussed.

Focus is given on proton-exchange membrane water electrolysis. Current trends in material section for components and scale of hydrogen production. The cost of obtaining, operating and maintaining physical assets for their productive life is known as the life-cycle cost.

The benefits claimed for terotechnology cover a wider area than cost reduction. But this aspect is covered by reduction in the following costs: (a) Cost of ownership of physical assets (b)Lower material costs. Reference Books Objectives After completing this unit, you will be able to: now cost reduction has also come within the ambit of cost accounting.

Cost accounting is thus concerned with recording, classifying and summarizing costs for determination of costs of products or services, planning, controlling and reducing such costs and. One of the striking aspects of American military power is how little serious attention is spent on examining the key elements of its total cost by war and mission, and the linkage between the use of resources and the presence of an effective strategy.

For the last several decades, there has been little real effort to examine the costs of key missions and strategic commitments. Lean Six Sigma: Cost Reduction Strategies. Lean Six Sigma is a synergised managerial concept of Lean and Six Sigma that results in the elimination of the seven kinds of wastes/muda (classified as defects, overproduction, transportation, waiting, inventory, motion, and over processing) and provision of goods and service at a rate of defects per million opportunities (DPMO).

The costs associated with getting products from the warehouse to the final destination are easy to review. With a logistics company streamlining and studying the entire process, lower costs for shipping and storage are common. A reduction in product breakage because of a lack of proper packaging is also a measurable benefit.

Cost Control Technology. The importance of cost control can most closely be defined when using project management software. Enterprises can efficiently assess all aspects of costs associated with a project within minutes. They can evaluate, optimize and control all aspects of cost management from a.

Written by renowned accounting expert Steven Bragg, Cost Reduction Analysis: Tools and Strategies clearly lays out the tools for determining which costs your company should cut without impacting its ability to deliver goods and services.

This practical book walks you through: Specific cost reduction opportunities in sales/marketing, product Reviews: 6. This is a nice, short, professional, focused cookbook that summarizes the key aspects of cost reduction. If you are looking for ideas to cut costs or building a comprehensive cost reduction program, this book is a good place to start and organize your s: 1.

Get a free trial of FastMaint CMMS. You can get an online trial/ demo today. See how the above corrective and preventive maintenance cost reduction strategies work for you in the free trial. Techniques #1, #3, #4 and #5 really need to be done with a maintenance software program to be effective.

Free FastMaint CMMS Trial. 20 years ago in his book "Out of the Crisis" Deming wrote about the chain reaction that focusing on quality triggers. It looks like this: Cost savings come from the idea that: "If you don't have time to do it right you must have time to do it again.

"This may also look very manufacturing orientated and you would be right in thinking so. Cost Baseline - This is a time-phased budget that is used to measure cost performance on the project.

Description Personnel aspects of cost reduction FB2

Estimated costs are summed by period and usually displayed in the form of an S-curve. The S-curve enables various aspects of the project to be evaluated such as cash flow and staffing capabilities with the predictions made for the program.

Cost reduction is a continuous process of critically examining various elements of cost and each aspect of the business (i.e. procedures, methods, products, management including market and finance etc.) is critically examined with a view to improving the efficiency for reducing costs.

Cost-Reduction Potential: Moderate to Large. Lower Overhead Costs. Overhead costs, also known as indirect costs, include the cost of management and administrative staff, buildings and facilities, including fuel sites, computer systems, utilities, tools, taxes, and many other factors that cannot be attributed directly to a vehicle.

The cost reduction gap: realized savings often fall short of targets. Almost. 50%. of companies undertaking cost reduction initiatives. fail to meet their cost reduction targets. In many cases, potential savings are susceptible to erosion throughout the program. Tactics to accelerate the realization of savings.

Setting the stage. The latest developments in renewables and technology improvements led to a major decrease in the investment costs (mostly for wind and solar photovoltaic) and thus to significant cost reduction. Bioenergy can be competitive in many cases, especially when cheap or even negative cost of biomass feedstock is available.

Automation, application of machines to tasks once performed by human beings or, increasingly, to tasks that would otherwise be impossible.

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These machines are concerned with performing a process by means of programmed commands combined with automatic feedback control to ensure proper execution of the instructions. Cost share premiums. Employers who are paying more than 50% of the cost of the premiums may want to look at instituting a sharing of premiums.

For example, because of the recent strong growth periods, some employers have chosento bear % of the cost .