Optimization of material costs in extractive industries

In modern conditions, many organizations face the need to quickly adapt their business to changing circumstances to maintain its efficiency and ensure survival. In this context, one of the most important issues for management is cost optimization. The aim of the study is to identify and justify opportunities for reducing costs, as well as to develop measures for optimizing expenses in the extractive industries. Based on the conducted analysis, the article identifies the cost items and elements with the largest share in the product cost structure, and outlines the directions for their optimization, specifically the development and implementation of information technologies for planning and managing production in mining enterprises. The effectiveness of the proposed measures is evaluated.