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On the Principles of Resource Consumption Optimization on Microeconomic Level

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015

Author

Listed:
  • Stefea, Petru
  • Pelin, Andrei

Abstract

In a business environment defined by overproduction, ever increasing competitive pressures, fast technological dynamics, there remain few reliable instruments to be used by managers in order to develop and maintain competitive advantages. Traditionally, manufacturing cost reduction represents one the solution that are most close to the managers in order to counteract the threats coming from a business's environment. In such a context, this paper aims to develop the ways to obtain cost reduction of three types of resources: direct materials, direct labour and manufacturing overhead. The main method used in the article is analytical logic, the objective being to highlight the approaches to be used in order to optimize resource consumption in its different forms. The results of the article focus on the practical ways to increase a manufacturing enterprise's efficiency.

Suggested Citation

  • Stefea, Petru & Pelin, Andrei, 2015. "On the Principles of Resource Consumption Optimization on Microeconomic Level," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2015), Kotor, Montengero, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015, pages 355-361, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr15:183669
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    File URL: https://www.econstor.eu/bitstream/10419/183669/1/49-ENT-2015-Stefea-et-al-pp-355-361.pdf
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    References listed on IDEAS

    as
    1. Petru Åžtefea & Andrei Pelin & Daniel Brindescu, 2008. "The Reflection Of Enterprise Performance Through Cash Flows," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(10), pages 1-24.
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      More about this item

      Keywords

      Cost optimization; resource consumption efficiency; cost reduction; direct costs; overhead;
      All these keywords.

      JEL classification:

      • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
      • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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