Jan 28, 2020 · Raw material cost :In spinning mills, cotton is the chief raw material accounting for more than 85% of the fibre consumption and more than 76% of the total fibre consumption in the textile sector ?Cotton accounts for about 50 to 70 per cent of the yarn costs. Cotton costs are found to differ considerably within a year to the extent of about 30%, the C.V. being on the average 7%
Know MoreThe following are the main differences between Cost Control and Cost Reduction: Cost Control focuses on decreasing the total cost of production while cost reduction focuses on decreasing per unit cost of a product. Cost Control is a temporary process in nature. Unlike Cost Reduction which is a permanent process. The process of cost control will be completed when the specified target is achieved
Know MoreThe main distinctions between cost control and cost reduction can be discussed under various subheadings as under, though both underline what costs ought to be: Cost Control: 1. Objectives – Cost control aims at maintaining the cost in accordance with the established targets or standards. 2. Approach – Cost control locks dynamism since it
Know MoreOct 13, 2015 · • Cost Control does not guarantee quality maintenance, however 100% quality maintenance is assured in case of cost reduction. • Cost Control is a preventive function as it ascertains the cost before its occurrence. Cost Reduction is a corrective action. 6 7. • Cost control is the achievement of pre- determined targets of costs
Know MoreCost Reduction vs Cost Control – Key Differences. While the main goal of both cost control and cost reduction is the same, to maximize the profits of a business, they achieve the goal through different methods. Therefore, there are some differences between the two processes. These key differences between cost control and cost reduction are as
Know MoreMar 05, 2021 · Cost Control: Cost Reduction: 1: It is management by directive dictating how to do a thing. It adds thinking to doing at all levels of management. 2: It represents efforts made towards achieving a target/goal. It represents achievement in reduction of costs in all effort to reach the goal. 3: Cost control is a base of cost reduction
Know More32ball millshowever, the increase in capital cost is justified economically by a reduction in operating cost attributed to the elimination of steel grinding median general, ball mills can be operated either wet or dry and are capable of producing products in the order of 100 mthis requires
Know MoreDec 10, 2020 · Cost control and cost reduction are the two very efficient tools used to reduce the cost of production and maximise profit. In simple words, Cost control is a technique used to provide the management with all the necessary information regarding the actual costs and also align them properly with the budgeted costs
Know MoreJul 20, 2013 · Further production of value added products need to be optimized since in integrated steel plants these products can be produced only with a marginal additional cost. Process control and quality control – Effective process control and quality control are very essential for the cost management in a steel plant. These controls improve product yields and reduce production of rejects, seconds, and diverted materials to lower grades and hence aids in cost
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