COST reduction is one of the most frequently considered issues in virtually all businesses, especially manufacturing. Regrettably, consideration is seldom given to profit optimization or maximization. Maximizing profit requires a sound understanding of price constraints and cost behavior. The opportunities available are closely influenced by the markets served and the unique factors associated with the business. Addressing some pricing and costing issues can help you identify the cost analysis pitfalls that prevent your company from reaching its maximum profitability.
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