Cost Reduction Management

Views Updated: Dec 15, 2025

Key Facts

Abbreviation
CRM
Pronunciation
/kɔst rɪˈdəkʃən ˈmænɪʤmənt/
Category
Business
Related Field
General

Examples in Context

  1. The whole efficiency of company can be improved obviously through implement lean manufacturing. The improvement can be touched upon production operation, inventory control, working utilization, cost reduction, management strategy, etc. All the improvement can enhance the competitive strength and battle effectiveness.
  2. Generally, cost is always a critical factor influencing corporate profits. Not only is the cost reduction an important issue in corporate management, but also is the essential task in business logistics management.
  3. Contract alteration is a matter of common occurrence in project construction. After the contract is varied, it will not be favorable to cost reduction and results improvement in case of poor management.
  4. However, the previous cost management pays more attention to cost reduction to improve profitability. Apparently, the traditional management concepts and models have fell far behind with the times.
  5. As the largest thermal power plant, the production cost reduction are important factors for the fuel cost effective control and management.

Other meanings of CRM

Customer Relationship Management Computing
Customer Relationship Manager Business
Client Relationship Management Business
Customer Relationship Marketing Business
Customer Relations Management Business
Credit Risk Management Business
Consumer Relationship Marketing Business
Crew Resource Management Gov
Customers Really Matter Business
Credit Risk Mitigation Business