Innovative activity of the enterprise in the context of improving the cost management mechanism

Abstract

Effective enterprise management is impossible without rational planning and control of costs. Therelevance of the topic is due to the fact that the introduction of an effective cost management mechanism inthe enterprise is a time-consuming process that requires professional knowledge in enterprise management.Proper cost management allows you to expand the boundaries of the business, allows the company to findadditional sources of resources, make its products more attractive to consumers and expand market share,to win additional market segments. Being in constant interaction with a large number of suppliers, partnersand consumers, it is necessary to use different models of cost reduction depending on the situation in theenterprise. And each company individually chooses the most effective methods of cost optimization.The article presents and considers the features and methods of improving the cost managementprocess in the food industry by implementing various types of innovations. The stages of the cost management process and the features of cost accounting have been identified. The main problems that food industryenterprises may face in cost accounting have been highlighted and recommendations have been given toprevent and eliminate these situations. Methods of cost reduction at enterprises have been proposed. Themethod of obtaining a positive economic effect on enterprises from the introduction of product, technologicaland organizational innovations has been considered. The introduction of different types of innovations is anintegral part of management in the enterprise, as skillful cost management together with novelty gives adouble economic effect. The reasons for overspending and a list of measures to minimize them have beengiven.