Last updateWed, 25 Nov 2020 4pm

Manufacturing & The Economy

Manufacturers to Put More Emphasis on Costs

U.S. industrial companies, which for years have touted their dedication to lean manufacturing operations, are increasing efforts to further cut production costs to offset soaring prices for raw materials like oil, chemicals and steel.

As companies struggle to maintain profit margins in an atmosphere where almost everything they use -- from oil to steel to plastics -- is more expensive, there is greater emphasis on thinking creatively and making more cuts.

Source: Reuters

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