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The Ways to Reduce the Self-Cost of Production: Analysis, Methodology and Prospects
Rozhko V. I., Sydorenko A. O.

Rozhko, Viktor I., and Sydorenko, Andrii O. (2024) “The Ways to Reduce the Self-Cost of Production: Analysis, Methodology and Prospects.” Business Inform 5:333–338.
https://doi.org/10.32983/2222-4459-2024-5-333-338

Section: Management and Marketing

UDC 338.512

Abstract:
The article is devoted to the topical problem of reducing the self-cost of production in the modern market, especially in the context of Ukrainian enterprises that face unique challenges in the context of the ongoing war. The aim of this article is to analyze the main measures to reduce the cost of production, identify unresolved problems in this area and determine the prospects for further research. The article analyzes the main ways to reduce the self-cost and identifies unresolved problems, such as insufficiently active introduction of new technologies, instability of the economic situation and currency exchange rates. An important issue of effective production management at enterprises in order to ensure their competitiveness and profitability is also considered. In particular, various ways to optimize the cost of production are explored, for example, through the introduction of effective technologies and production methods, minimization of waste, automation of management and production, optimization of inventory levels and replacement of obsolete equipment, etc. The authors analyze each of these paths, provide specific methodologies and outline the prospects for their application, emphasizing the importance of continuous analysis of market conditions and adapting the pricing strategy to changes. The research uses the methodology of analysis of scientific research and publications, including a review of scientific articles, journal publications and web resources. Based on the collected information, an overview of practical examples of successful enterprises that use innovative methods of cost reduction is provided, namely, such world-famous firms as Tesla, Inc., Unilever, Amazon, Walmart, General Electric (GE). The article will be of considerable practical and scientific interest for enterprises struggling with economic challenges, as well as for researchers interested in the problems of optimization of production processes.

Keywords: self-cost of production, cost reduction, cost structure, enterprise.

Bibl.: 8.

Rozhko Viktor I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Marketing, Management and Entrepreneurship, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Sydorenko Andrii O. – Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

Dmytriiev, I. A., and Shevchenko, I. Yu. Ekonomika pidpryiemstva [Business Economics]. Kharkiv, 2018.
Ivanilov, O. S. Ekonomika pidpryiemstva [Business Economics]. Kyiv, 2009.
Ekonomika pidpryiemstva [Business Economics]. Kyiv: Kondor, 2020.
Boichyk, I. M. Ekonomika pidpryiemstva [Business Economics]. Kyiv: Kondor, 2016.
Prychepa, O. V., and Ruda, L. P. Ekonomika ta orhanizatsiia vyrobnytstva [Economy and Organization of Production]. Vinnytsia: VNTU, 2017.
“Osnovy ekonomichnoi teorii“ [Foundations of Economic Theory]. 2003. https://library.if.ua/books/67.html
Shapoval, O. F., and Butnik-Siverskyi, O. B. “Tsina produktsii: uspikh diialnosti pidpryiemstva“ [Product Price: The Success of the Enterprise]. Kharchova i pererobna promyslovist. 1995. https://dspace.nuft.edu.ua/server/api/core/bitstreams/8af99ad1-ceea-4423-8e65-a00d869965a1/content
“Vydy ta struktura sobivartosti produktsii pidpryiemstva. Referat“ [Types and Cost Structure of the Company's Products. Abstract]. Osvita.ua. https://osvita.ua/vnz/reports/econom_pidpr/21913/

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