Self validating reduction

Posted by / 09-Sep-2016 20:32

Before IBAN, differing national standards for bank account identification (i.e.

bank, branch, routing codes, and account number) were confusing for some users.

The IBAN consists of up to 34 alphanumeric characters comprising: a country code; two check digits; and a number that includes the domestic bank account number, branch identifier, and potential routing information.

The check digits enable a sanity check of the bank account number to confirm its integrity before submitting a transaction.

Thus, the first step is to define each type of cost reduction and how it relates, directly or indirectly, to the company’s budgets and / or profit and loss measures.

Some categories will be obvious, such as material cost reduction or freight reduction, some will be less obvious, such as decreases in process cycle times.

However, as practitioners, we need a better understanding of the details included in risk reduction and architecture considerations.

What steps must we take to ensure an attacker has few opportunities to reach her goals?

In 2006, CAPS released a critical issues report entitled Defining Cost Reduction and Avoidance that is definitely worth a (second) read.Initially developed to facilitate payments within the European Union, it has been implemented by most European countries and numerous countries in the other parts of the world, mainly in the Middle East and in the Caribbean.As of February 2016, 69 countries were using the IBAN numbering system.Every member of the sourcing team needs to measure, using standardized metrics, her cost reduction efforts, but before metrics can be applied, the data needs to be normalized.This involves properly categorizing each type of cost reduction.

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