Cost Productivity definition
Cost Productivity means, for any year, the sum of the reductions in each of the following as compared to the prior year: (i) direct and indirect material prices, (ii) overhead costs, (iii) the number of management working hours per Service and (iv) direct labor rates.
Examples of Cost Productivity in a sentence
These material cost increases were offset in part by cost savings from productivity initiatives of an estimated $18 million under the Company’s Total Cost Productivity (TCP) initiative.
During 2009, these cost increases were offset in part by cost savings from productivity initiatives of an estimated $12 million under the Company’s Total Cost Productivity (TCP) initiative.
These estimated cost increases were offset in part by cost savings from the Company’s Total Cost Productivity (TCP) initiatives of an estimated $20 million.