Building a global client portfolio across a wide spectrum of customers – from health care and government to heavy industries, private equity and printing – Lean Management specialists Four Principles are using Sustainable Cost Reduction to help businesses in crisis. But what exactly is Sustainable Cost Reduction and how does it work?
Cost control is just like learning a language. Like learning any language, mastering cost control takes time and effort to perfect.
A disproportionate amount of waste in a value chain is directly linked to procurement processes not working properly. Companies often lack clarity over their supply chain and therefore struggle to localise and differentiate value from waste. Balancing procurement related activities that are “necessary waste” with those that create value presents an ongoing struggle for companies of all sizes. The benefits of applying Lean Principles for procurement managers and purchasing activities can dramatically affect a company’s cash flow and its bottom line.
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