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Cost Management

By Eric Johnson As we think through cost analysis opportunities, whether during times of crisis or during routine analysis, a key focal point is reducing extraneous costs to the business while maintaining the tools, processes, and skill sets that provide the value proposition to the customer. After hearing rumors in the marketplace that a new market entrant was poised to potentially steal market share in its home market, the COO of a concrete manufacturer decided to embark on a cost-cutting initiative in anticipation of two potential scenarios; the first being a preemptive strike in lowering prices to give the new entrants difficulty

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By Eric Johnson Supply chain is an area where substantial savings can be captured due to the many impacts on production and operations. However, some management teams tend to shy away from large-scale projects, only employing them when something breaks or sometimes when it's too late. A key approach here is to be proactive, and start when the first issues appear, which will allow a longer time frame to enact change. A large manufacturer of agriculture, construction, and forestry equipment had a large and diversified product field, consisting of heavy machinery for the consumer market and industrial equipment, which is made to

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By Eric Johnson The tidal wave of working from home experiences may ultimately push many organizations to permanently establish work from home capabilities even after the Covid crisis has ended. Some organizations will push for a majority of their employees to stay home fully, while others may require in-office work periodically for everyone, possibly on a weekly or staggering scale, e.g. alphabetically by day or by specific business unit based on strategic need. Considering the above, organizations have a tremendous opportunity to extract expenses and improve both the balance sheet and P&L through the strategic planning of facilities. Things to Consider: It's key

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By Eric Johnson Every organization engages in constant analysis of the business and the reduction in costs is no exception. Obviously, during the pandemic, everyone is making sure to account to the last penny where they can save and pull costs out of the business. Even during good times, responsible stewards are always on the hunt to see where they can create efficiencies and do more with less. Operations is a great place to start when looking to reduce costs since most of the activities occur here. While a good start, organizations need to take into full account the total aspect of

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By Eric Johnson As the pandemic further pushes the work environment into remote and off-site arrangements, we are beginning to see conversations regarding the future of work, and what remote working would encompass over the course of a longer period of time. Many organizations already have telecommuting options to reduce employees’ exposure to long commute times, approaching this type of arrangement as a perk of employment. However, in many cases, these arrangements are limited in both scope and time. It is now beginning to appear that discussions are starting to take root in the fact that working remotely can be an advantage

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By Dale Lawrence There is ample evidence that most organizations see productivity gains when their workers are able to work in a flexible environment, whether entirely based in their home office or flex between the office and their home. This doesn’t mean everything is rosy and the recent and sudden movement home during the pandemic saw many workers having to share workspace with their families. This wasn’t ideal but necessary. However, now that most businesses are beginning their journey to work in the new normal, it is time to evaluate one aspect that can provide real savings for your business. Flex

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