05 Aug Quarterly Newsletter
Cost Reduction Vs Cost Control
Cost control and Cost reduction are two different and distinct strategies used by many organizations in order to reduce the cost of operation associated with many operational expenses. Cost Reduction considers factors such as quality and efficiency while cost control mainly focuses on lowering the cost as per the set standards and minimum guidelines set for that specific spend category. Cost reduction challenges the established standards by decreasing the costs and increasing the quality and efficiency. A sound cost reduction process usually provides optimum results when engaging a contingency based third party firm such as Office Technology Partners who specialize in cost reduction and can perform a independent analysis of the current needs and requirements as well as the scope of work.
View as a PDF: OTP Quarterly Newsletter Aug 2019