Cost Minimization Quotes

The general principles of political economy teach us to buy all our commodities where we can have them the cheapest; and perhaps there is no general rule in the whole compass of the science to which fewer justifiable exceptions can be found in practice

I don't need a $100 million mistake. Try to make a $5 million mistake if you have to make one.

Detect and fix any problem in a production process at the lowest stage possible.

Give your opponent an out. Look at the crises from his point of view.... Try to pick an option that achieves your purpose at minimal cost to him—military, political or otherwise.

When you hire a nanny, the question you ask yourself is, 'What's best for my precious child?' And do you really want someone who feels that your motive in life is to minimize the amount you spend on your child?

If you were to just design the perfect retirement plan, you would own the stock market or you would own the bond market. You would get all the costs or all that you possibly could out of the system. So on an annual basis, if the market went up 8 percent, you would get 7.8 or 7.9 percent.

I think if you have a big enough wallet you can solve anything but the key is to solve it with the least amount of expenditure.

The economic analysis of law has had many good ideas. It's had one great idea -like, world-transforming idea, I think. And the idea is, when you're stuck, minimize the sum of the costs of decisions and the costs of errors.

The cost of an animated film really comes down to man hours. If you gather together world-class talent, then the question becomes how do you deploy that talent in a way that minimizes waste.

From the point of view of the employer, it is in any case simply an item of cost, to be reduced to a minimum if it cannot be eliminated altogether, say, by automation. From the point of view of the workman, it is a "disutility"; to work is to make a sacrifice of one's leisure and comfort, and wages are a kind of compensation for the sacrifice.

Voters care only that student loans remain freely available and that they cost taxpayers as little as possible.

When companies minimize their costs, they can spend more on R & D and marketing. It's just very logical.

The attempt to minimize cost and maximize profits often interfered with our true mission in Iraq. We should have been working to get jobs for Iraqis, but the contractors found it cheaper to import Nepalese and others. This increased resentment, contributed to unemployment, and to our losing the hearts and minds of the Iraqis.

I am convinced that most companies don't maximize their barter possibilities. Instead of aggressively reducing costs by trading their services with those of their suppliers, they seem content to pay top dollar for everything.

The problem with a cost reduction strategy is that there is a finite limit.You can only get to zero.

A firm is successful when the costs of directing employee effort are lower than the potential gain from directing.