Smart ways to reduce expenses

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Description: Reducing expenses requires tough decisions that involve many managers. First, infrastructure needs to reflect current volume. Being efficient within that infrastructure and recovering costs are as important. Finally, outsourcing and buying better can improve things even further. A key to managing costs is to understand their character. Fixed infrastructure costs do not vary by order volume. They include facilities, equipment, administration, certain labor, and discretionary costs such as advertising. Variable expenses, on the other hand, do vary with volume. They include such items as materials, supplies, direct labor, and sales commissions. The idea of recovering costs means weighing the costs of functions and programs with their benefits. One example is marketing and advertising costs. Outsourcing converts fixed expenses to variable, which helps in tough times. Designating a single buyer saves money by combining quantities of individual requisitioners and decreasing number of orders to be processed.
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