What is the one thing that any supply chain leader would not be surprised to receive in their budget or operational performance review? A directive to contribute to company profitability by identifying and delivering cost reduction opportunities. Yet, the management of cost is different from the measurement and reporting of cost. Cost reporting is dictated by a number of financial accounting conventions, which do not provide a framework for preserving value while minimizing waste. After all, cost is the merely the monetized value of dissimilar resources consumed by the supply chain to deliver products, services and solutions that create positive customer outcomes.
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