ABSTRACT
The research work centers on the impact of
cost reduction scheme on the profitability of manufacturing finds. it involves
investigating the various strategies by which cost could be reduced and the
problems affecting the effectiveness of such strategies. Various literatures
were reviewed with references. cost reduction technique involves a deliberate
measured built into a system operations and of production with the aim of
lowering the total cost of production or operation while still maintaining the
same if not quality products produced or services rendered. The technique are
value analysis, work study, organization and method, quality circle, just in
time etc. the manufacturing finds used for this research work are: Best
Aluminum company limited, Ibeto Cement Company Limited, Port-Harcourt Flour
Mill, Wilson's food and confectionaries. The data collected were primary and
secondary data. The primary data which is the questionnaire administered to the
firms and also personal interviews conducted while the secondary data are
journals, textbooks, and other publications. The population derived from the
four firms is one hundred (100), the sample size was derived from the
population by the use of a sampling tool called the taro yamani formula, and
the sample size derived is eighty (80), also the sampling techniqi.e used was
judgmental. Eighty (80) questionnaires were distributed and seventy (70) were returned
duly filled and completed. The hypotheses were analyzed using the Clii4 square
method. One of the major findings is that cost reduction scheme make tremendous
impact on the profitability of manufacturing firms. Based on the findings, the
researcher made recommendations, one of which is Seminars, Symposia, and
Workshop should be held for management personnel in order to enable the company
update its knowledge of cost reduction scheme.
:WABOSO, C (2021). Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firms.. Mouau.afribary.org: Retrieved Nov 26, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firms-7-2
CATHERIN, :WABOSO. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firms." Mouau.afribary.org. Mouau.afribary.org, 12 Jul. 2021, https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firms-7-2. Accessed 26 Nov. 2024.
CATHERIN, :WABOSO. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firms.". Mouau.afribary.org, Mouau.afribary.org, 12 Jul. 2021. Web. 26 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firms-7-2 >.
CATHERIN, :WABOSO. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firms." Mouau.afribary.org (2021). Accessed 26 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firms-7-2