When competition is limited, there is inefficiency. The manufacturer then reduces production and increases the price to achieve extra profits. Prices become more than marginal cost, capacity is underused, and the production is less than ideal. The prices do not represent the signs of the relative scarcity of resources and thus can no longer serve as a roadmap for effective deployment. Then the state should protect consumers and regulate the monopolistic behaviour, ie, determine the price at which it can operate a monopoly.
The main task of each company management, especially in times of crisis, is to maximize profits by reducing production costs, without the need for large investments in more technologic advances. The struggle to reduce costs usually affects all departments. Giving up means losing markets and giving way to competitors who are better organized and more aggressive.
Experts at Homework Help UK can assist you in examining and improving the company’s efficiency, which depends upon the depth of knowledge of its production process in terms of methods, procedures and resources used in order to understand where born waste and inefficiency.
Furthermore, our experts can help with the studies pertaining to rationalization of processing cycles, improved logistics and inventory reduction, proper use and aware of resources (tools, equipment, etc.), intelligent management, constant control and accurate material acceptance and quality checks during and at the end of the process are the fundamental steps to achieve the goal of reducing costs. Trust the experts at Homework Help UK, get a quote now.