Cost management and ways to reduce product costs

In the conditions of modern market competition, effective cost management and constant reduction of product cost are becoming key strategic tasks for any enterprise. These processes allow not only to increase the company's competitiveness, but also to ensure sustainable business development in the long term. Optimization of expenses and cost structure is a necessary step to maximize profits and improve the financial performance of the organization. In this article, we will consider the basis of cost management, as well as strategies for reducing product cost.