Chapter 12 starts with a short section about the company Leanpath.This company helps other companies manage costs in regards to food waste.Food waste is a huge cost issue in restaurants, grocery stores, etc.You can only purchase so much daily (it is costly and you play with the possibility of not getting your orders timely), thus ordering for a busy weekend, storing that food and then using all the scraps purposefully (for soup or a sauce or a special menu item), is important management (indirect results of cost management).

I would like to see you apply this concept of managing costs to an area of interest for you.Pick a company or type of industry -it could be retail, food, education, etc.Any industry is open game, but you must tell me two ways that you can manage hidden costs (I don't want to hear about turning the lights off to save on utility bills, or cutting staff to save on payroll).HIDDEN costs.Think like a manager.

You must:

- identify the costs (two of them).Explain the costs and how it is specific and important to the industry you chose.

- come up with a way to manage (reduce or contain) them.What are the implications if you do not manage these costs, what are the benefits (direct and indirect).

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