COST OPTIMIZATION AND HUMAN RESOURCE EFFICIENCY IN INDUSTRIAL ECONOMIC ENTITIES: THE ROLE OF FUNCTIONAL ANALYSIS AND IMPROVEMENT STRATEGIES

Isabela STANCU (lita) (), Dumitru Bejinariu () and Florin Radu ()
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Isabela STANCU (lita): Valahia University of Targoviste, Romania
Dumitru Bejinariu: Valahia University of Targoviste, Romania
Florin Radu: Valahia University of Targoviste, Romania

Contemporary Economy Journal, 2024, vol. 9, issue 2, 19-28

Abstract: It is well known that economic entities of any type generate costs and obviously fixed expenses. It is also known that industrial economic entities are permanently concerned with reducing production costs with the help of production programs by restructuring production costs and permanently improving labor productivity. The direct involvement of industrial economic entities with the help of the departments of specialized sections can lead to the dematerialization of writing efforts and the launch of projects necessary to reduce structural costs, especially in economic and commercial relations and relationships with third parties. The article explores the importance and implication of functional analysis in the management of costs and human resources within industrial economic entities. Through a detailed approach, the job evaluation processes, the identification of functional relationships and the integration of human resources quality into the overhead structure are examined. Also, strategies and principles are proposed for improving the management of human resources, considering the objectives of reducing costs and increasing efficiency. The study emphasizes the importance of a comprehensive approach and continuous analysis to optimize performance and profitability in the industrial environment.

Keywords: costs; labor productivity; human resources; optimization of expenses; dashboard (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:9:y:2024:i:2:p:19-28

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