• Dr. Sadyojathappa S

Despite vast changes in business and technology over the past five decades, the traditional costing practises used by most companies today have failed to evolve. Information provided by traditional costing methods like unit costing, output costing, job costing, process costing, standard costing, marginal costing, etc., does not effectively support critical management decisions. In the present market scenario, mere cost control is not enough and a company needs to concentrate on strategically managing costs. Today, companies are facing competition not only from domestic companies but also from international companies. They need to swim against benign winds, and offering the best quality at the lowest price is a common phenomenon among the top leaders in the market. Market-driven strategies play a vital role, whereby a company should be capable of launching a product that suits the target market. Product differentiation with a view to covering various customer groups is also one of the strategies to grab the market at national and international levels. Sustainable competitive advantage is playing a significant role. The present study throws light on various emerging strategies for cost management techniques that not only help in reducing the cost but also improve the overall performance of the company and simultaneously help to offer the product at a lower price with the best quality. The researcher used secondary data for the analytical study of emerging trends in strategic cost management.

Cost, Strategic Cost Management, Techniques, and Trends

"Emerging Strategic Cost Management Trends for Effective Cost Management in the Present Scenario", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 4, page no.d683-d691, April-2022, Available :http://www.jetir.org/papers/JETIR2204382.pdf

"Emerging Strategic Cost Management Trends for Effective Cost Management in the Present Scenario", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 4, page no. ppd683-d691, April-2022, Available at : http://www.jetir.org/papers/JETIR2204382.pdf