Cost Reduction Analysis: Tools and Strategies (Wiley by Steven M. Bragg

By Steven M. Bragg

Discover the instruments for realizing the prices your organization should still lower, with out impacting its skill to bring items and services

New from Steve Bragg, this ebook offers the instruments for deciding on which expenditures a firm should still reduce, with out impacting its skill to carry items and prone. It explains the best way to use throughput research that allows you to find bottleneck operations in an organization, which in flip dictates the place capital investments may still (and aren't) be made.

  • Delves into strategy research, to figure out the place extra assets are getting used in a enterprise process
  • Describes the entire expense of possession, exhibiting how a unmarried deciding to buy selection really snowballs right into a number of ancillary costs
  • Shows easy methods to create and use a spend administration process to lessen procurement costs
  • Shows how just-in-time platforms can be utilized to dispose of stock costs

Cost aid research: instruments and Strategies offers examples to teach how a lot expense can in all likelihood be eradicated to prevent drastic motion later which may imperil your corporation's path and future.

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Extra info for Cost Reduction Analysis: Tools and Strategies (Wiley Corporate F&A)

Example text

A process is in need of work if there is a great deal of turmoil around it. Indicators include finger-pointing about who caused an error, high error rates, lots of time researching and correcting errors, a multitude of manager approvals, and evidence that people are working around the process whenever possible. These are all symptoms of a process that touches too many departments and has too high a degree of complexity. It is not difficult to find these processes—just ask the employees. Process Analysis Tools There are a number of ways to analyze an existing process to see how it can be streamlined.

This issue is listed first because it is important for revenues, customer satisfaction, and customer turnover. A negative response from management should not yield an automatic rejection of a proposed cost reduction, however. Instead, additional consideration should be given to the extent of the resulting service level decline and how much that decline will matter to customers. Will it impact the lifetime value of customers? In other words, will the cost reduction either increase customer turnover or reduce the profit from their purchases?

Thus, cost reductions are to be gained by increasing the efficiency of the core process and the volume of transactions running through it. Simplify steps. Task simplification is central to the reduction of processing errors. It can involve the elimination of processing options, or the elimination of various types of data, or the consolidation or elimination of forms, and so forth. Select the simplest process path. If a process improvement project yields several possible alternatives for a new process, it is generally best to select the simplest one, even if it is slightly more expensive than the other alternatives.

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