Cost Optimization – how to get a FRESH START
Companies should re-evaluate their cost structures in the context of the current economic situation and make use of professional measures to reduce costs in procurement. We explain how this works in practice.
- Reducing costs in Procurement in four steps
- Demand & Budget Management: How to avoid unnecessary expenses
- Conclusion and recommendation for action
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Those who act now can thrive in the long run
The pictures that went viral around the world were astonishing yet frightening at the same time.
Planes parked in hangars or on the tarmac. Freight trains halted at stations. And from a bird’s eye view, the world’s oceans looked in some places like a game of Battleships: row upon row of them, anchored in ports across this planet.
Reducing costs in Procurement: EMERGING stronger from the crisis
The months of standstill and lockdown have led to some bizarre situations. What can an airline do if it is not allowed to fly? What can a factory do if it cannot produce anything because it is missing parts that it normally sources from all over the world? What can a restaurant do if no guests are allowed to dine? For many companies, this phase has been an economic disaster. For others, it has meant watching from the sidelines, hoping that their industry will not be impacted next. In either case, it is now as important as ever for companies to streamline their operations and drastically cut costs to protect turnover as well as margins.
- Step 1: Determine and leverage your own position
- Step 2: Managing demand and implementing immediate measuresn
- Step 3: Managing demand and implementing immediate measures
- Step 4: Optimizing costs throughout the supply chain in the long-term
Read the detailed description of the 4 steps in the digital edition of our magazine.
Our cost optimization experts
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