CONTINUOUS COST REDUCTION SUSTAINABILITY IN FASHIONABLE PRODUCTS INDUSTRIES
Publication Date : 01/01/2017
Firms manufacture and market fashionable products with chic appeal and trendy in technology, feature and aesthetic design combining quick response product introduction with competitive cost structure are facing severe difficulties in volatile economic conditions globally. They face the challenge to frequently introduce new product at cheaper price. Will Continuous Cost Reduction (CCR) be able to come in and address this twin substantial trend? Will CCR act as an enhanced set of management technique to solve this sustainability challenge in the new products market competitiveness? CCR is hypothesized encompasses business processes from products ideas generations to product disposals concerning five significant management architecture components which are core strategic vision, cost management, product portfolio management, product design and development and product lifecycle management. To answer the above curiosity, an empirical study will be conducted on the senior managers of electronics and non-electronics industry focusing on the fashionable products by administering as set of research instruments. It is anticipated that the findings will prove the crucial role of CCR in meeting the challenge of rapid and frequent introduction of new products and the pressure for cheaper alternatives products especially in the electronic industry.
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