ABSTRACT
This study focused on the examination of the effect of cost reduction on the
profitability of a manufacturing company in Nigeria. specfically, it investigated
the following, effect of effect of cost reduction on the profitability of a
manufacturing company; the cost reduction techniques applicable in a
manufacturing company, and factors limiting cost reduction strategies in a
manufacturing company. Hypotheses were formulated and tested at 0.0] level of
signficance. It adopted the survey research design which include research
question, interview and rating scale were used to analyse the effect of cost
reduction on the profitability of PZ manufacturing company. Data for the study
were sourced through the primary source of data. 47 staff of PZ Manufacturing
Company were studied. The Descriptive and inferential statistics was used as the
analytical tool, the study revealed that there is a sign jflcant relationship between
cost reduction and the profitability of a manufacturing company and that there is
a sign frIcant relationship between cost reduction techniques and the profitability
of a company. Thus, the study conclusively argues that cost reduction ensures the
survival and growth of manufacturing companies by improving the efficiency and
preserving its competitive capability. The researcher relying on the findings
recommended that Manufacturing companies should always reduce cost
irrespective of their state of performance, information should be passed at all
levels to enhance the awareness of those cost reduction techniques; finally, that
Management should give a restricted limit to waste by looking for other processes
where it will be useful to increase the value of the company and thereby reduce
cost.
ESSIET, R (2021). Effect Of Cost Reduction On The Profitability Of A Manufacturing Company In Nigeria (A Study Of PZ Nigerian In Aba, Abia State). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-cost-reduction-on-the-profitability-of-a-manufacturing-company-in-nigeria-a-study-of-pz-nigerian-in-aba-abia-state-7-2
RAYMOND, ESSIET. "Effect Of Cost Reduction On The Profitability Of A Manufacturing Company In Nigeria (A Study Of PZ Nigerian In Aba, Abia State)" Mouau.afribary.org. Mouau.afribary.org, 10 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-cost-reduction-on-the-profitability-of-a-manufacturing-company-in-nigeria-a-study-of-pz-nigerian-in-aba-abia-state-7-2. Accessed 31 Oct. 2024.
RAYMOND, ESSIET. "Effect Of Cost Reduction On The Profitability Of A Manufacturing Company In Nigeria (A Study Of PZ Nigerian In Aba, Abia State)". Mouau.afribary.org, Mouau.afribary.org, 10 Jun. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-cost-reduction-on-the-profitability-of-a-manufacturing-company-in-nigeria-a-study-of-pz-nigerian-in-aba-abia-state-7-2 >.
RAYMOND, ESSIET. "Effect Of Cost Reduction On The Profitability Of A Manufacturing Company In Nigeria (A Study Of PZ Nigerian In Aba, Abia State)" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-cost-reduction-on-the-profitability-of-a-manufacturing-company-in-nigeria-a-study-of-pz-nigerian-in-aba-abia-state-7-2