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 steps to save the investments and the resources. “Saving a penny equals to earning one.”  Take help of an experienced process controller like Ken Kremsky and he will pick the errors correctly. 

The costs can be reduced in various ways for any organization:
  • Material Cost: take a check on the cost of the material and if any alternative is available with lower price.
  • Labor Cost: Take a check on the number of laborers on any project and their necessity. Reduce the number, if needed.
  • Skip the least utilized machineries, equipments and the manpower on the process
  • Put a check on the services offered to the administration like: Telephone bill, Traveling expenses, etc.
  • Packaging cost: limit the need for large packaging.
Ken Kremsky, who previously served as the Controller has saved more than 300K per annum, just by reducing the packaging costs and few small alterations. He achieved a Black Belt in Lean Six Sigma Certification. The certification helped him lead teams to reduce the costs in the most effective way and ensuring that the customer is serviced with the best version product.

As the Senior Manager at Mondelez, Ken Kremsky saves up to 75 Million USD every year by aborting the existing errors.  That is what a minute analysis of the process does, to your organization.

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