The Effect of Lean Strategic Cost Management on Revenue Increase and Cost Reduction of Thai Listed Companies Engaged in Manufacturing

Abstract

This research aimed to study 1. The level of lean strategic cost management of Thai listed companies operating in the manufacturing business 2. The level of financial performance of Thai listed companies operating in the manufacturing business 3. The impact of lean strategic cost management on financial performance in terms of revenue increase and cost reduction of Thai listed companies operating in the manufacturing business. This research used a   questionnaire to collect data from 49 Thai listed companies operating in the manufacturing business. The data were analyzed using descriptive statistics and multiple statistics. The results of the research found that 1. Most businesses had the highest level of lean strategic cost management overall, with evaluation and control being the areas with the highest management level, followed by environmental analysis, strategy implementation, and strategy formulation, respectively. 2. Most businesses had high levels of financial performance in terms of revenue increase and cost reduction. 3. Lean strategic cost management in terms of environmental analysis had a statistically significant effect on revenue increase at 0.05, and lean strategic cost management in terms of strategy implementation had a statistically significant effect on cost reduction at 0.10.