STRATEGIC COST MANAGEMENT Definition

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STRATEGIC COST MANAGEMENT is the overall recognition of the cost relationships among the activities in the value chain, and the process of managing those cost relationships to a firm's advantage. Also known as Cost Management Theory.

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ALTERNATE PAYEE ENDORSEMENT, normally, it is when one payee endorses a draft over to another entity, then the new or alternate payee endorses the draft near the original payees endorsement (signature).

MONITOR, generally, is to keep tabs on; keep an eye on; or, keep under surveillance. In business, it is a person or firm appointed to review and report on, without controlling or approving, the day-to-day transactions of a business. Particulars of the engagement are usually set out in an exchange of letters, an agreement or court order.

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