Quotes & Sayings About Cost Management

Lack of harmony and cooperation between the railroad management and the workers has made it necessary for the railroads to increase their freight and passenger rates, and this, in turn, has increased the cost of life's necessities to almost unbearable proportions. Here, again, lack of cooperation between a few leads to hardship for millions of people. — Napoleon Hill

Many of the Abbott disciplines trace back to 1968, when it hired a remarkable financial officer named Bernard H. Semler. Semler did not see his job as a traditional financial controller or accountant. Rather, he set out to invent mechanisms that would drive cultural change. He created a whole new framework of accounting that he called Responsibility Accounting, wherein every item of cost, income, and investment would be clearly identified with a single individual responsible for that item.4 The idea, radical for the 1960s, was to create a system wherein every Abbott manager in every type of job was responsible for his or her return on investment, with the same rigor that an investor holds an entrepreneur responsible. There would be no hiding behind traditional accounting allocations, no slopping funds about to cover up ineffective management, no opportunities for finger-pointing. — James C. Collins

The TMS is evolving into a logistics platform that can handle all nodes, all geographies and all transportation nodes. It's already talking to other applications in the supply chain, like warehouse management, order management and ERP systems. By adding underlying algorithms, a TMS can now understand the relationship between the cost of inventory and the cost of transportation and come up with an optimal solution to answer those questions. — John Murphy

IT metrics have to evolve from being a cost center to becoming a revenue generator. — Pearl Zhu

View a Copycat as a Stray Cat.. They stray through the day hunting down prey. They pick up a scent through steel or cement. They act shy yet their sly. They get around traps, they escape with the bait. When you realize your loss and feel the hard cost without a peep nor a sign, they stand smiling across the finish line. — Victoria Addino

Active management is a zero-sum game before cost, and the winners have to win at the expense of the losers. — Eugene Fama

In return for the service and to cover the annual cost for fund management and other expenses, the mutual fund levies fund management charges (FMC). The FMC levied varies across schemes from around 0.75% to 2.50% (the — Vinod Pottayil

Economy denotes the the proper management of materials and of site, as well as a thrifty balancing of cost and common sense in the construction of works ... the architect does not demand things which cannot be found or made ready without great expense. For example: it is not everywhere that there is plenty of pitsand, rubble, fir, clear fir, and marble ... Where there is no pitsand, we must use the kinds washed up by rivers or by the sea ... and other problems we must solve in similar ways. — Marcus Vitruvius Pollio

I greatly admire GE, their utterly ruthlessly focused management, to get the cost out and get this integration done.' Okay, we may make a few mistakes along the way but we are not going to waste any time.' They make decisions; they are incredibly disciplined and focused. — Larry Ellison

The purpose of logistics management is to plan and coordinate all those activities necessary to achieve desired levels of delivered service and quality at lowest possible cost. — SATISH C. AILAWADI

1. Project What is the project? Why is it unique? Why is the business needed? Why will customers love your product? 2. Partners Who are you? Who are the partners? What are your educational backgrounds? How much experience do you all have? How are you and your partners qualified to make the project a success? 3. Financing What is the total cost of the project? How much debt and how much equity is there? Are partners investing their own money? What is the investor's return and reward for their risk? What are the tax consequences? Who is your CFO or accounting firm? Who is responsible for investor communications? What is the investor's exit? 4. Management Who is running your company? What is their experience? What is their track record? Have they ever failed? How does their experience relate to your industry? Do you believe this is the strongest management team you can assemble? Can you pitch them with confidence? — Donald J. Trump

Great leaders catch and correct problems while they're still small and able to be managed without a lot of hassle. If ignored too long, small problems will morph into much bigger issues that will require more time and effort and at a high cost, causing a great deal of disruption and stress. — Beth Ramsay

Engineering management philosophy: Save money at all cost. — Jack Rohrer

Good management is the lifeblood of the healthy corporate body. Getting rid of it to save cost is like losing weight by giving blood. — Tom DeMarco

We must recognize that "happy" is not a business goal. Service providers pursue "happy." Leaders pursue growth, competitive advantage, mission enhancement, and cost management. — Tina Nunno

No man can be a good citizen unless he has a wage more than sufficient to cover the bare cost of living, and hours of labor short enough so after his day's work is done he will have time and energy to bear his share in the management of the community, to help in carrying the general load. — Theodore Roosevelt

I think a very good system in a world with a lot of passive investors is one in which there are at least a few entrepreneurial investors, prepared to say what they think, prepared to propose a change in management, change in strategy, change in cost structure, capital structure. — Bill Ackman

New management at Nine has launched a concerted attack on its cost base in order to restore margins through eliminating waste, improving efficiency and lowering programming costs. — James Packer

Task switching exacts a cost few realize they are even paying. — Gary Keller

Failure of management to plan for the future and to foresee problems has brought about waste of manpower, of materials, and of machine-time, all of which raise the manufacturer's cost and price that the purchaser must pay. The consumer is not always willing to subsidize this waste. The inevitable result is loss of market. Loss of market begets unemployment. — W. Edwards Deming

Thus a new way of finding fluidity will inevitably be imposed on management and labor alike. The profit-sharing, or "progress" sharing union contract is the only possible way of satisfying labor and the consumer without saddling industry with fixed costs that in depression periods can kill off marginal companies like flies. — John Chamberlain

Cost-effective, attractive to business partners, environmentally friendly, easy access to a wide range of guidance and support - it makes good business sense to implement and maintain a robust and effective environmental management system — Elliot Morley

Management cares about only one thing. Paperwork. They will forgive almost anything else - cost overruns, gross incompetence, criminal indictments - as long as the paperwork's filled out properly. And in on time. — Connie Willis

One has to understand China correctly. Our management there consists of native Chinese, we produce locally and our suppliers also come from China. In this way, we too can also enjoy the cost advantages. — Tulsi Tanti

It is easy to launch a project if you have no clue about the cost and schedule. — Gerry Geek

The Philippines ranks among top off-shoring hubs in the world because of cost competitiveness and, more importantly, our highly trainable, English proficient, IT-enabled management and manpower. — Gloria Macapagal-Arroyo

Then why flounder around waiting for good business? Get the costs down by better management. Get the prices down to the buying power. — Henry Ford

Sometimes I hear news about the huge dollars involved with CEO pay and corporate-management salaries, and I'm mystified at how someone can justify taking that much at the cost of other people's livelihoods. In a bizarre way, I'm almost kind of curious, like "How can they absolve themselves and enjoy their wealth?" I don't understand it. — Eddie Vedder

To be sure, the cost of managing capital and of "formal" financial intermediation (that is, the investment advice and portfolio management services provided by a bank or official financial institution or real estate agency or managing partner) is obviously taken into account and deducted from the income on capital in calculating the average rate of return (as presented here). But this is not the case with "informal" financial intermediation: every investor spends time - in some cases a lot of time - managing his own portfolio and affairs and determining which investments are likely to be the most profitable. This effort can in certain cases be compared to genuine entrepreneurial labor or to a form of business activity. — Thomas Piketty

I think integrative medicine, something I've pioneered, is the way of the future. Its great promise is that it can reduce healthcare costs by shifting the whole focus of healthcare away from disease management to health promotion and prevention. They can do that two ways: first, by focusing attention on lifestyle medicine, which is very deficient. And second, by bringing into the mainstream treatments that are lower cost because they are not dependent on expensive technology. — Andrew Weil

In evaluating potential vendors, accurately estimating total cost of ownership is critical. Yet, this is often an area where companies don't put the right amount of effort. This tool can help those looking at Warehouse Management Systems get their arms around this key issue. — Dan Gillmor

The computer actually may have aggravated management's degenerative tendency to focus inward on costs. — Peter Drucker

Some people are natural inventors who prefer to work without the pressure and expectations of the later business phases. Others are ambitious and see innovation as a path toward senior management. Still others are particularly skilled at the management of running an established business, outsourcing, and bolstering efficiencies and wringing out cost reductions. People should be allowed to find the kinds of jobs that suit them best. — Eric Ries

If you were to gather all the minutes wasted on insignificant, immaterial yik yak spent throughout the day and add them up, how much misspent time do you think you'd have? One hour? Two hours? Consider the sunk cost on that. It's unacceptable. One minute wasted is one minute too much. — Ari Gold

But what is the theological cost of viewing ministry as management and pastors as professional organizers, albeit in charge of spiritual organizations? What is lost in the switch is the biblical vision of the pastor as a shepherd of a flock of souls. Such — Iain M. Duguid

Any successful hospitality operation - be it a hotel or restaurant, chain or independent, low-cost provider or luxury establishment - requires an effectively performing individual operation. You have to attract the right customers, have the service product, set the right price for your product, and provide the right level of service - all the while managing your employees the right way to achieve your goals. This requires a combination of knowledge from a variety of disciplines, and thus this section includes contributions from our faculty in human resources, management, marketing, operations, and strategy. — Michael C. Sturman

Poor management can increase software costs more rapidly than any other factor. Particularly on large projects, each of the following mismanagement actions has often been responsible for doubling software development costs. — Barry Boehm