VizagNews.com - Cost management crucial for the industry

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Visakhapatnam, December 17, 2005

Visakhapatnam Steel Plant Director (Finance) PK Bishnoi highlights importance of Cost management

Cost management plays a vital role in guiding the financial health of a highly capital intensive steel industry, and so it must be given due importance, Visakhapatnam Steel Plant Director (Finance) PK Bishnoi said on Friday. He was inaugurating the two day national convention on 'achieving excellence in cost management in steel industry, jointly organized by Visakhapatnam Steel Plant and the Ukkunagaram chapter of the Institute of Cost and Work Accountants of India (ICWAI).

Director (Operations) KK Rao said that the maximum production at low cost was the need of the hour and laid stress on managing the supply and demand parameters for successful running of any business. ICWAI central council member AS Durga Prasad, in a key note address said that reducing the cost, improving productivity and ensuring raw material linkages were the key factors in ensuring a steel mill's growth.

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