Cost reduction is easier said than done, says Sr. Finance Manager Ken Kremsky
Cost reduction is one way every big organization is looking for these days; and, why not? It is one of the ways where the organization can earn millions without increasing the prices. Ken Kremsky has done it quite many times for Kraft foods and Mondelez International in the past helping them gain extra hundreds of thousand dollars every year. The market is the most inconsistent part of the deal. A new name comes up every other day offering the same service as yours. As a start up, they offer a far lesser price to grab more attention. Chances are you might end up losing some of your most loyal clients. As per your investments behind the product, you are already at the bottom line of the selling price, yet higher than the newcomer is offering. Decades old technologies carry a demerit- an unaudited process. Your processes are more likely to repeat a few steps, without you realizing it. A thorough analysis will help you discover the redundant processes. You can eliminate those ...