Transforming cost management into a strategic weapon

doi:N/A

eISSN: 1848-137X / ISSN: None

Journal of Cost Management

Volume 12, Issue 6 : 13-26

Research Article

Transforming cost management into a strategic weapon

Tom Freeman

Consortium for Advanced, Manufacturing - Int (CAM-I)

Abstract

Instead of being used as an internally focused and tactical control system, cost management is increasingly being used by companies as a strategic weapon. Individual management techniques are more effective when they are developed and framed within the context of a larger system of hierarchical relationships and processes. Effective understanding of activities and their resulting costs plays a key strategic role along the various performance dimensions of organizations.

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