ABSTRACT
This research work centers on the
impact of cost reduction scheme on the profitability of manufacturing firm.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 techniques involves a
deliberate measure built into a system operation and of production with the aim
of lowering the total cost of production or operation while still maintaining
the same if not quality product produced or services rendered. The techniques
are value analysis, work study, organization and method, quality circle,
just-intime etc. the manufacturing firm used for this research work is port-Harcourt
flour mill; the data collected were primary and secondary data. The primary
data which is the questionnaire administered to the firm and also personal
interview conducted while the secondary data are existing document. The
population derived from the firm is seventy, the sample size was derived from
the population by use of sampling tool called Taro Yamani formula and the
sample size derived is (59) also the sampling technique used was judgmental,
fifty nine questionnaire were distributed and forty (40) were returned duly
filled and completed the hypothesis were analyzed using the simple regression
method. One of the major findings that cost reduction scheme makes tremendous
impact on the profitability of manufacturing firm. Based on the findings the researcher
made recommendation, one of which is seminar, symposia, and work shop should be
held for management personnel in order to enable the company update its
knowledge of cost reduction scheme.
ONYEKWELU, I (2022). Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firm. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firm-7-2
IFEANYI, ONYEKWELU. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firm" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 31 Oct. 2022, https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firm-7-2. Accessed 24 Nov. 2024.
IFEANYI, ONYEKWELU. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firm". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 31 Oct. 2022. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firm-7-2 >.
IFEANYI, ONYEKWELU. "Impact Of Cost Reduction Scheme On The Profitability Of Manufacturing Firm" Repository.mouau.edu.ng (2022). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-cost-reduction-scheme-on-the-profitability-of-manufacturing-firm-7-2