Effective Cost Cutting in Asia: Practical Modern Approach for Managers and Engineers in Industry to Achieve Profit Growth

The book discusses how the purchasing department can gain profit for the company by reducing costs in productive and non-productive materials and negotiating with suppliers. It also provides ideas for successful purchasing and supplier development in Asia.

Format: Paperback / softback
Length: 378 pages
Publication date: 02 March 2023
Publisher: Springer Nature Switzerland AG

The era of affordable raw materials and energy sources has come to an end. Suppliers are likely to impose price hikes owing to the escalating costs of energy and materials. This book offers valuable insights on how your purchasing department can enhance your company's profitability and introduces innovative strategies for successful purchasing and supplier development in Asia. The author delves into cost-reduction techniques for both productive (BOM) and non-productive materials (NPMs), as well as calculating product and tool costs. Additionally, the book provides practical guidance on negotiating favorable terms with suppliers in Asia and establishing a robust supplier relationship management system.

The cost of energy and materials has been on the rise in recent years, leading to increased costs for businesses. Suppliers are likely to pass on these costs to their customers, resulting in higher prices for products and services. This book provides strategies for businesses to navigate these challenges and optimize their purchasing processes to achieve cost savings.

One of the key strategies discussed in the book is the importance of supplier relationship management. Building strong relationships with suppliers can help businesses negotiate better prices and terms, as well as improve communication and collaboration. The book provides practical tips on how to develop and maintain effective supplier relationships, including establishing clear expectations, providing feedback, and building trust and respect.

Another strategy discussed in the book is the use of technology to optimize purchasing processes. The author highlights the benefits of using software tools and platforms to manage supplier information, track orders, and analyze data. This can help businesses identify inefficiencies and opportunities for cost savings, as well as improve communication and collaboration with suppliers.

In addition to these strategies, the book also provides insights into the global supply chain and the challenges businesses face in managing it. The author discusses the importance of understanding the different stages of the supply chain, including sourcing, manufacturing, and logistics, and how businesses can optimize each stage to achieve cost savings.

Overall, this book is a valuable resource for businesses looking to optimize their purchasing processes and achieve cost savings in the face of rising energy and material costs. By implementing the strategies discussed in the book, businesses can improve their competitiveness and profitability in the global market.

Weight: 617g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030827847
Edition number: 1st ed. 2022