Chairman's Message
In today's business landscape, marked by global volatility, geopolitical tensions, and economic inflation, the CII Total Cost Management (TCM) framework stands out as a solution.
The TCM framework, with its structured, multi-dimensional approach, empowers businesses to optimize costs and evaluate profit scenarios beyond conventional financial metrics. Over 250 companies have adopted the TCM framework, which serves as a compass for the industry, addressing crucial questions about resource efficiency and sustainability-aligned decisions.
- Mr Girish Wagh, Chairman CII National Committee for TCM & Executive Director, Tata Motors
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Why Total Cost Management is important?
In the current disruptive business era, conventional cost accounting support is limited to cost pooling, shop floor focus and provide compliance perspective to the business. Total Cost Management is a company-wide systematic and structured approach, which provides a holistic framework to control, reduce and eliminate costs, throughout the value chain. This process of managing the financial outcome of activities encompasses all operations, internal and external.
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