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Cost Reduction and Control Best Practices provides financial manages with no-nonsense, balanced, and practical strategies that are being targeted and used nationwide for controlling costs by thousands of companies in areas such as human resources, compensation, benefits, purchasing, outsourcing, use of consultants, taxes, and exports. These best practices are based on the trenches experience, research, proprietary databases, and consultants from the Institute of Management and Administration (IOMA) and other leading experts in their fields.* Provides best practices and techniques for controlling costs within a company* New chapters focus on outsourcing costs, downsizing, consultants' costs, and business tax costs* Provides the latest strategies companies re using to control costs
IOMA (Institute of Management and Administration) publishes a broad range of high-quality information products for business professionals. Their products serve two purposes: to improve the efficiency of their subscribers and to enhance the financial performance of the firm or organization. Over 180,000 top business professionals rely on IOMA publications, special reports, and electronic services every month.
Preface viiAcknowledgments ix1 Corporate Cost-Control Strategies 12 Human Resource Department Costs 593 Benefits Costs 1004 Compensation Costs 1505 401(k) Plan Costs 1836 Training and Development Costs 2137 Accounting Department Costs 2478 Accounts Payable Costs 2649 Credit and Collections Costs 28310 Purchasing Costs 30611 Inventory Costs 34912 Export Costs 38313 Outsourcing 42214 Downsizing 45615 Consultants’ Costs 49116 Business Tax Costs 512Index 529