cost minimization


Also found in: Medical.

cost minimization

production of a given OUTPUT at minimum cost by combining FACTOR INPUTS with due regard to their relative prices. See COST FUNCTION, ISOQUANT CURVE.
References in periodicals archive ?
Manufacturing Productivity Extension (MPEX) Program will continue to focus assisting DOST SETUP clients whose firms need to revise plant/processing area layout, update cost minimization methods, among others.
Section IV considers the optimal sanctions and proves the equivalence between maximization of a utilitarian welfare function and cost minimization.
Logistics cost minimization and minority supplier content enhancement are other methods suppliers are using to gain/ maintain business in a competitive market.
Ten papers present recent research on dynamic priority scheduling of critical data in wireless sensor networks, secure node localization in clustered sensor networks with effective key revocation, energy-efficient congestion control in wireless sensor networks, and cost minimization of sensor placement and routing in wireless sensor networks.
Objective: This study finds out drug usage trends in Stage I Hypertensive Patients without any compelling indications in Karachi, deviations of current practices from evidence based antihypertensive therapeutic guidelines and looks for cost minimization opportunities.
This Article revisits and refines the organizing principles of evidence law: case specificity, cost minimization, and equal best.
Our estimation is based on a system of three equations with cross-equations restrictions that are derived from cost minimization.
Pakistan should ensure quality, efficiency and cost minimization particularly in nontraditional manufacturing sector.
First, the most productive cost minimization programs start with an understanding of the investment strategy that will maximize the market potential of the current portfolio as just described.
34% High customer service level 27% Flexibility 22% Cost minimization 14% Efficient use of inventory 3% Other Source: PWC.
As defined previously, cost minimization is a comparison of the acquisition costs of various drugs without consideration of outcome.