cost reduction
Cutting spending down
Cost reduction is the process of lowering expenses in a business or organization.
Companies pursue cost reduction through layoffs, automation, renegotiating contracts, or streamlining operations: The merger was driven by cost reduction goals.
The term often appears in corporate communications as a euphemism for cuts that affect workers.
- renegotiationRevising agreed terms
- Six SigmaData-driven quality management
- automationSelf-operating system design
- streamliningMaking more aerodynamic or efficient
- just in timeAt the last moment
bulk purchasing · manufacturing · Kaizen · value engineering · profitability · belt-tightening · cutting corners · zero-based budgeting · supply chain · outsourcing · procurement · labor costs · fixed costs · economies of scale · energy efficiency · competitiveness · margins · cutback
- Government Reformbudget reform, fiscal reform, government reform, policy reform, regulatory reform
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- budgetingbudget, budgets, budget app, budget template, budget allocation
- efficiencyoptimization, efficient, streamlining, effective, optimize
- supply chainsupply, supplier, delivering, suppliers, vendor
- business casesmarket entry, feasibility study, due diligence, turnaround plan, restructuring plan
cost reductioncost increase
Growth in expense
price increase · rising costs · cost overrun · financial burden
cost reductioninvestment
Deploying capital for returns
expansion · revenue growth · capital expenditure · quality improvement · market expansion