Last Friday we had our CFO Connect on “Cost Reduction”.
With Participants from a diverse set of companies like Fujirebio, Liebherr, Multi Masters Group, Van Olmen & Wynant, Team Industries and ING we we ready for another interactive session.
This time we had 1 leading Business Case and 3 summarised Cost Reduction cases.
The 1st Cost Reduction Project resulted from a need to review a company’s Business Model driven by significant lower revenues and activities.
Some topics that were discussed: "how to tackle a Cost Reduction project", "how to select the right partner (in/outsource)" and "at which price"?
Key takeaways were “Analyze your current cost structure using Pareto Analysis”, “Involve all your stakeholders” AND “Keep Ownership/Control yourself !”
During the 2nd case a merge of Distribution Centers was discussed.
Savings were derived from standardisation of processes and the leverage on facilities/people/systems across BU’s.
Also during these case the importance to “involve your stakeholders” was highlighted as well as the fact that “not all fits one”; not 1 single business model is the same.
The 3rd and 4th case was around Supply Chain and Fixed Cost Reduction.
Suggestion to calculate all components that make up your total Supply Chain Cost. Only then you will be able to make the appropriate decisions.
The Fixed Cost Case was more about Cost Awareness – embed cost decisions in your company by implementing cross-departmental recurring decision meetings.
We finished the breakfast session right on time allowing all attendees to pick up their daily tasks for the rest of the day.
All attendees subscribed already for 1 or more future CFO Connect Breakfast sessions.
Want to take part and interact yourself? Feel free to register at www.financebuilders.eu
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