Cost Management and Operational Efficiency Strategies in Response to Global Economic Uncertainty

Abstract

The increasingly complex global economic uncertainty is driving organizations to formulate more adaptive cost management and operational efficiency strategies. The study aims to examine the strategic approaches used by companies to reduce costs and increase efficiency in response to external economic pressures. The method used was a systematic literature study of several published scientific articles from last five years. The results of the analysis show that cost management strategies that focus on long-term value creation, such as lean management and agile operations, have been proven to be able to improve organizational competitiveness and resilience. Digitalization, through the implementation, big data analytics, and AI, is also a determining factor in improving efficiency across business functions. However, the success of this strategy is highly dependent on the readiness of human resources, organizational culture, and consistent internal policy support. The study recommends the need for thorough integration between technology, processes, and people so that efficiency and cost control strategies are not only a short-term solution, but also the foundation for sustainable growth amid global volatility.