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The meaning of COST-EFFICIENT is cost-effective.
What is the pronunciation of cost-efficient? COST-EFFICIENT definition: 1. providing good value for the amount of money something costs: 2. providing good value for the…. Learn more.
Cost Efficiency is the business strategy relating to reduction in the cost of production without hindering the quality of the product or service. It is an important feature that helps an organization's profitability by generating better results with lesser capital requirements and providing value to their customers.
Define cost-efficient. cost-efficient synonyms, cost-efficient pronunciation, cost-efficient translation, English dictionary definition of cost-efficient. adj. producing optimum results for the expenditure; economical. cost′-effec′tively, adv. cost′-effec′tiveness, n.
The simplest definition of cost efficiency is “saving money by improving a process or product.” Companies measure their cost-efficiency by comparing the business costs incurred against the output produced (for a product) or the revenue generated (by a process).
COST EFFICIENCY definition: 1. → cost-effectiveness 2. a way of saving money, or of spending less money: . Learn more.
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