ABSTRACT
This research work investigated with particular reference to lever Brother Nigeria Plc the existing cost minimization strategies in operation, their effectiveness as veritable cost minimization strategies; and above all, how much or less they have contributed to minimization of the cost of production of the company. They study revealed that the company adopted and used the following cost minimization strategies among others; staff training, good inventory management through economic order quality model; maintenance of low labour turnover rate; strict supervision of activities; responsibility accounting system, turnaround strategy and periodic preparation of cost analysis and investigation of material variance. The strategies have not been without problems. It was found that staff members who have been denied some welfare facilities and fringe benefits as a result to the cost minimization strategies in vogue gave developed a lukewarm attitude to work and a declining moral for productivity.
Base on these findings, it is concluded that these strategies adopted by lever Brother Nigeria Plc are suitable for modern day productions for a manufacturing company of its caliber. Also, these strategies have equally led to a significant difference in materials, labour and overheads cost of the company.
Finally, it is recommended that backward integration strategies, review of contract establishment of a separate purchasing department and approving of overtime allowance for workers on essential duties are areas to be looked into with a view to enhancing performance of the workers and improved work ability of the strategies in vogue. Other areas recommended to be seriously encouraged include, the accounting system in operation and the budgetary control and standard costing techniques in practice.
TABLE OF CONTENTS
TITLE PAGE i
APPROVAL PAGE ii
DEDICATION iii
ACKNOWLEDGMENT iv
ABSTRACT v
TABLE OF CONTENTS vi
CHAPTER ONE
1.0 GENERAL INTRODUCTION
1.1 Purpose of the Study
1.2 Significance of the Study
1.3 Scope of the Study
1.4 Limitation of the Study
1.5 Definition of Terms
CHAPTER TWO
2.0 Definition of cost Minimization Strategies
2.1 Functions and Concept of cost Minimization Strategies
2.2 Way of Regulation the Activities.
CHAPTER THREE
3.0 Summary of Findings, Conclusion and Recommendation.
3.1 Findings
3.2 Conclusion
3.3 Recommendation.
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2014, 11). Cost Minimizeation Strategies In Manufacturing Companies. (a Case Study Of Lever Brother Nigeria Plc).. ProjectStoc.com. Retrieved 11, 2014, from https://projectstoc.com/read/4282/cost-minimizeation-strategies-in-manufacturing-companies-a-case-study-of-lever-brother-nigeria-plc-8926
"Cost Minimizeation Strategies In Manufacturing Companies. (a Case Study Of Lever Brother Nigeria Plc)." ProjectStoc.com. 11 2014. 2014. 11 2014 <https://projectstoc.com/read/4282/cost-minimizeation-strategies-in-manufacturing-companies-a-case-study-of-lever-brother-nigeria-plc-8926>.
"Cost Minimizeation Strategies In Manufacturing Companies. (a Case Study Of Lever Brother Nigeria Plc).." ProjectStoc.com. ProjectStoc.com, 11 2014. Web. 11 2014. <https://projectstoc.com/read/4282/cost-minimizeation-strategies-in-manufacturing-companies-a-case-study-of-lever-brother-nigeria-plc-8926>.
"Cost Minimizeation Strategies In Manufacturing Companies. (a Case Study Of Lever Brother Nigeria Plc).." ProjectStoc.com. 11, 2014. Accessed 11, 2014. https://projectstoc.com/read/4282/cost-minimizeation-strategies-in-manufacturing-companies-a-case-study-of-lever-brother-nigeria-plc-8926.
- Related Works
- Training And Development Of Human Resource In Banking Operation (a Case Study Of Union Bank Of Nigeria Plc Enugu Main Branch)
- The Importance Of Ethic And Social Responsibilities To Business Organization (a Case Study Of Union Bank Plc.)
- Causes Of Failure Of Small-scale Industries In Nigeria ( A Case Study Of Enugu State )
- The Role Of Nigerian Stock Exchange In Industrial Development
- A Study On The Strategies For Managing Environmental Factors In Business Organisations In Nigeria (a Study Of Some Selected Manufacturing Firms In Enugu State)
- The Impact Of Privatization On Nigeria Money Market (a Case Study Of The Central Bank Of Nigeria)
- Analysing Debt Management Techniques In Business Organisations In Nigeria. (a Case Study Of Nigeria Bottling Company Plc, Enugu)
- The Effect Of Financial And Non Financial Incentives On Staff Productivity
- Effective Working Capital Management In Paint Industries (a Case Study Of Marshal Paint And Chemical Limited Enugu – Enugu State)
- Analysis Of The Impact Of Social Welfare Schemes As Provided By Co-operative Societies. A Case Study Of Co-operative Society, Warri, Delta State