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Business strategy
Ways to cut down business production cost to improve profit.
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[QUOTE="King bell, post: 345000, member: 75687"] In businesses, cutting down the costs of production is a usual approach to increase profitability. These could be through: optimizing supply chain by securing better contracts or engaging in bulk buying; simplifying the production process to remove inefficiencies; managing stock levels using just-in-time methods and bargaining with suppliers for lower prices. They are cost reduction strategies, efficiency improvement strategies and productivity maximization strategies that eventually lead to heightened profit realization in business. [/QUOTE]
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