Modern Methods of Reducing Production Costs in the Textile Industry and Ways to Improve Financial Efficiency

This article examines modern approaches to reducing production costs in the textile industry and their role in improving financial efficiency. The study focuses on the analysis of key cost components, including raw materials, energy consumption, labor, and overhead expenses, and identifies effective ways to optimize them. Special attention is given to the implementation of innovative technologies, automation, digitalization, and lean manufacturing principles, which contribute to minimizing waste and enhancing productivity. The research also highlights the importance of efficient resource management and cost control strategies in achieving sustainable economic performance. The results indicate that an integrated approach to cost optimization allows textile enterprises to improve competitiveness, increase profitability, and ensure long-term development in a dynamic market environment.