Saturday, September 22, 2012

Total Cost Management and Total Cost Industrial Engineering

Total cost management is company wide effort to involving all employees to understand, plan and control costs.

Total cost industrial engineering is also a company wide effort to visualize the total cost of the organization in terms of the subsystems, processes and methods, so that relevant industrial engineering projects are taken up, productivity improvement and cost reduction are achieved and the results of the project are included in the cost plans of the subsystem, process or method involved.  Total cost industrial engineering activity shows visually the areas in need of industrial engineering project intervention and then clearly shows the benefit of the intervention.

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