Question

What is the meaning of cost reduction ?how does it differ from cost control?

Answer 1

Cost Reduction is a technique used to save the unit cost of the product without compromising its quality.

Difference Between Cost Control and Cost Reduction. ... Cost Control is a technique which provides the necessary information to the management that actual costs are aligned with the budgeted costs or not. Conversely, Cost Reduction is a technique used to save the unit cost of the product without compromising its quality.

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