Rational use of material resources is an important reserve for reducing product cost

This article is devoted to the problem associated with the essence of the cost of production and its impact on the results of economic and financial activities. The article notes that the study of the nature and essence of the cost, the definition of ways and means of its reduction, is the goal of any enterprise, which remains an important condition for the financial recovery of the enterprise. In support of the need to reduce production costs, the author concludes that it is very important to introduce into production modern high-performance technology and production technology to reduce production costs.