In order to maintain profitability during a recession, management must be committed to cost reduction. Numerous ideas for cost reduction are discussed for areas such as:
1) financial
2) insurance
3) occupancy
4) communication
5) office and mailroom
6) fixed assets
7) labor and employee benefits and
8) travel, entertainment, and marketing.
Other suggestions include improving cash management via speeding up billing and collection processing and improving inventory controls.
1) financial
2) insurance
3) occupancy
4) communication
5) office and mailroom
6) fixed assets
7) labor and employee benefits and
8) travel, entertainment, and marketing.
Other suggestions include improving cash management via speeding up billing and collection processing and improving inventory controls.
1 comment:
its really of very much use when the recession occurs.....
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