improve cost efficiency

USAGE SUMMARY

The phrase "improve cost efficiency" is correct and usable in written English.
It can be used in contexts related to business, finance, or operations when discussing ways to enhance the effectiveness of spending or resource allocation. Example: "Our goal this quarter is to improve cost efficiency by streamlining our supply chain processes."

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

4 human-written examples

It is not a good sign to improve cost efficiency of banks after M&A.

Journal of Global Entrepreneurship Research

Low-cost voluntary practices based on well-established agricultural management practices have been combined with cost-shared (structural) practices in Conesus Lake watersheds to mitigate the impact of agricultural runoff on water quality and to improve cost efficiency of agricultural operations.

Journal of Great Lakes Research

This paper addresses the theoretical and practical issues we faced in designing this study to improve cost efficiency and feasibility.

Breast Cancer Research

Therefore, CCTA is now well established as an effective "gatekeeper" to invasive coronary angiography and may reduce the rate of normal coronary angiography and improve cost efficiency [ 6].

BioMed Research International

Human-verified similar examples from authoritative sources

Similar Expressions

56 human-written examples

In a statement, BBDO said the cutbacks were part of "a reorganization designed to improve cost efficiencies and effectiveness".

The New York Times

The importance of revisiting the algorithms for dynamically mapping user-driven virtual resources into physical resources within distributed clouds is highlighted in [12], where an optimal unified resource allocation framework for improving cost efficiency of networked clouds is formulated, and efficient heuristics to solve the problem are proposed.

Journal of Internet Services and Applications

By identifying high operating costs associated with the incumbent manual monitoring system, it was possible to demonstrate improved cost efficiency of the programme.

The Guardian

McKinsey measured a four-year period where just 30percentt of top global banks improved cost efficiency.

TechCrunch

"I'd say it improves cost efficiency by at least that much".

Forbes

It obvious that improved simulation capabilities will have a rather large impact on improving cost efficiency both with respect to aircraft development cost and aircraft operational cost.

Journal of Mathematics in Industry

The lessons learned from earlier problems have encouraged scientists and leading commercial companies to increase their efforts toward improving cost efficiency and better product positioning in the market within the confines of product capabilities.

Biological Control

Expert writing Tips

Best practice

When aiming to "improve cost efficiency", clearly define the metrics you will use to measure the improvement. This could be cost per unit, return on investment, or other relevant indicators.

Common error

Don't assume that simply cutting costs automatically "improve cost efficiency". True efficiency gains require optimizing processes and resource allocation, not just reducing spending.

Linguistic Context

The phrase "improve cost efficiency" functions as a directive or recommendation, suggesting actions to enhance financial performance by optimizing resource utilization. Ludwig provides examples in scientific, news, and business contexts.

Expression frequency: Common

Frequent in

Science

60%

News & Media

20%

Formal & Business

20%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "improve cost efficiency" is a grammatically correct and commonly used phrase that suggests optimizing financial performance. Ludwig AI indicates its prevalence across scientific, news, and formal business contexts. Synonyms such as "enhance cost effectiveness" offer alternative ways to express this concept. When using this phrase, it's crucial to define clear metrics for improvement and avoid simply cutting costs without optimizing processes.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

enhance cost effectiveness

Focuses on maximizing the value derived from expenditures, emphasizing the relationship between cost and outcome.

optimize resource allocation

Highlights the efficient distribution of resources to achieve the best possible results.

streamline operations to reduce expenses

Specifies the method of improving efficiency by simplifying processes and cutting costs.

increase financial efficiency

Emphasizes the improvement of financial processes to minimize waste and maximize output.

boost economic performance through savings

Highlights the positive impact on overall economic performance by achieving savings.

rationalize expenditure

Implies making spending more logical and efficient, often involving cuts or reallocation.

maximize value for money

Focuses on obtaining the greatest possible benefit from every unit of currency spent.

economize spending

Implies careful and thrifty use of resources to avoid waste.

attain greater fiscal prudence

Highlights the achievement of cautious and responsible financial management.

refine budgetary practices

Suggests improving existing budgeting methods to achieve better financial outcomes.

FAQs

How can I "improve cost efficiency" in my business?

Start by analyzing your expenses to identify areas where you can "reduce waste", "streamline processes", and "negotiate better rates with suppliers".

What's the difference between "improve cost efficiency" and "reduce costs"?

"Improve cost efficiency" focuses on optimizing the relationship between inputs and outputs to maximize value, while "reduce costs" simply means lowering expenses, which may not always lead to increased efficiency.

What are some metrics to track when trying to "improve cost efficiency"?

Key metrics include "return on investment" (ROI), "cost per unit", "operational efficiency", and "resource utilization". Monitoring these metrics will help you measure the success of your efforts to improve cost efficiency.

What's a synonym for "improve cost efficiency"?

A good synonym is "enhance cost effectiveness", which also implies optimizing the relationship between costs and outcomes.