Summary: In the article the role of cost management in the overall cost management system of the company. Consideration the concept of value chain and found the need to use it as a tool to cost optimization and achieve competitive advantage in the market.

Keywords: cost, value chain, cost management system, strategic management, cost optimization.

Actual problems of Economics and Finance: Abstracts of III International scientific-practical conference (Kiev-St. Petersburg-Vienna, August 31, 2015).