The Trap of Cost Reduction: Four Pitfalls to Avoid for Profitability Improvement

"Reducing costs haphazardly from wherever you notice," "Some people temporarily reduce costs."
Have you ever had such experiences? These are typical examples of unsuccessful cost reduction activities. In this article, we summarize four pitfalls related to cost reduction. We hope that by avoiding such pitfalls, you can find some effective cost reduction strategies that benefit your company, suppliers, and customers.

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Explains how to implement cost reduction in manufacturing using Toyota's problem-solving methods, detailing ways to impact management. Includes examples and experiences from large and small companies.