Loading...
Thesis
Browse
1 results
Search Results
ThesisItem Open Access A STUDY OF COST REDUCTION PRACTICES ADOPTED BY PHARMACEUTICAL UNITS IN NORTHERN INDIA(PAU Ludhiana, 2012) Nitin Chaudhary; Babita KumarThe present study was conducted to analyses the cost reduction practices and problems faced during their implementation in pharmaceutical units. The population for the study consisted of small, medium and large scale units of Northern India. The present study was restricted to Northern India. Out of those units 20 units were selected on the basis of random sampling techniques. Questions were framed to study the cost reduction practices adopted by different departments of the organization. The study found that work standardization was mainly followed as cost reduction practice for manufacturing and improvement in reaction speed and reduction in wastages was achieved in the last two years. Negotiation method for reducing inventory, providing on the job training for reducing training cost, automation for reducing personnel cost, direct selling for reducing distribution cost and improving ROI by process improvement were other cost reduction practices. Organizations were receiving many benefits like improved productivity and quality, reduction in wastages, decrease in inventory cost, increase in profits and competitiveness by adopting cost reduction measures. Organizations were facing problems of customers order which are highly fluctuating, frequent change in design, resistance from employees, lack of technical knowhow, budget constraint and lack of time to implement these practices. On the whole cost reduction practices are not so well engraved in the small pharmaceutical industries whereas they are more well adopted by large and medium scale units