Total Cost Management: A New Approach to Cost Control

Ghosh Anirban ()
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Ghosh Anirban: Department of Commerce, Netaji Subhas Open University, 1, Woodburn Park, Kolkata-700020 (W.B.), INDIA

Advances In Management, 2011, vol. 4, issue 12

Abstract: The customers are continuously demanding high quality products/services at low price. The shareholders demand a maximum rate of return on their investment from the company. So, the cost plays a pivotal role in this situation because the companies can only control the cost. The challenge before the companies is how to manufacture or provide service within the stipulated cost framework. Thus, cost management has to be an ongoing continuous improvement tool for value maximization.

Date: 2011
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