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What Are Some Great Ideas To Reduce Production Cost?
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[QUOTE="Alexandoy, post: 214656, member: 25510"] In our production management subject in college, one of the essay question in our midterm exam is the title of this topic. This is not to brag but I got a perfect score with my answer although it is a lengthy one. To summarize it here the first step is to check on the overhead expenses that would include overtime work and hiring emergency workers. Take note that emergency workers are paid double of the compensation of regular workers. When several regular workers get sick then the factory has to hire emergency workers so the production will not be affected. The gist of the cost reduction is mainly in the operation particularly the wages of the workers. You pay more during a holiday and Sunday. That means if the factory is closed during those days then you have saved a lot. You also avoid overtime work if your labor force is in the optimum level. When the operation is short of workers then that is more expensive. Of course the cost of the raw materials is also included in the study. But it's another long topic to discuss. [/QUOTE]
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What Are Some Great Ideas To Reduce Production Cost?
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