Cost Reduction Toolkit

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On going analysis of the maintenance (preventative and repair) process to identify opportunities for process and system improvements, efficiency gains, and Cost Reduction through the use of various Supply Chain applications and Data Mining tools.

More Uses of the Cost Reduction Toolkit:

  • Direct: people who build and leverage cross functional relationships to bring together ideas, data and insights to drive Continuous Improvement in functions.

  • Identify and implement Cost Reductions, service improvements, and Productivity Improvements in the functional area of Inventory Management.

  • Support guided buying team in operationalizing negotiated contracts and agreements, working with vendors and procurement resources to set up catalogs and other IT solutions to increase efficiency and compliance.

  • Drive simplification and elimination of non value added work in the business and identifies efficiencies and drive Organizational Effectiveness.

  • Confirm your group ensures Cost Reduction targets and productivity improvement objectives are met, while cultivating service/Product Quality and Customer Satisfaction.

  • Execute Cost Reduction initiatives via Strategic Sourcing, supplier concentration, local agreements, new supplier development, forward buy, and freight reduction.

  • Be certain that your planning complies; implements Cost Reduction opportunities by employing techniques of price/cost analysis, negotiations, Strategic Sourcing and value engineering.

  • Secure that your project establishes and maintains a positive employee relations climate and develops and maintains safe and healthful Working Conditions and environment.

  • Nurture stakeholder relationships by serving as your organization partner, helping identify critical business requirements and providing sourcing and procurement services that meet expectations.

  • Lead the coordination of engineering changes, product line extensions, or new product launches to ensure orderly and timely transitions in material or production flow.

  • Forecast in an environment of uncertainty using sensitivity analysis Use Statistical Techniques as regression, exponential smoothing, and confidence levels.

  • Collaborate with colleagues across your organization and external value chain partners to create feedback cycles, and to inform and enact Process Improvements and warranty Cost Reductions.

  • Be accountable for directing and setting priorities for teams focused on creating new ways to solve complex design and manufacturing challenges, Cost Reduction and yield improvement efforts, inventing and commercializing new technologies and methods.

  • Pilot: oversight, conduct or develop and plan calibration activities, monitoring and verification programs and activities, and all associated documentation.

  • Confirm your organization assess market conditions, identify industry best practices and emerging trends to identify new Cost Reduction and value creation opportunities.

  • Confirm your group ensures Cost Reduction targets and productivity improvement objectives are met, while cultivating Service Quality and Customer Satisfaction.

  • Develop, manage, and measure supplier performance for multiple facilities leading suppliers in continued cost negotiations, Cost Reduction, and cost containment considerations, risk mitigation and value improvement for lowest total cost.

  • Manage work with vendors to evaluate new technology/upgrades on your assets, related to efficiency/energy improvement, Maintenance Cost Reduction and life cycle improvement.

  • Govern: direct the Manufacturing Engineering group in optimizing production support, Cost Reduction, line presentation of material, Lean Manufacturing improvements, process development and Corrective Action support.

  • Formulate: participation in one or more organizational transformations with evidence of business change, Performance Improvement, growth, Cost Reductions.

  • Drive value added value engineering projects through your organization that are addressing part obsolescence, Quality Improvements, and/or Cost Reduction initiatives.

  • Steer: proactive monitoring of environments and identifying and document areas for improved efficiencies, Cost Reductions or improved availability.

  • Prioritization and planning identification of business requirements and cross organizational knowledge to prioritize, enhance collaboration and leverage the highest value opportunities in order of priority.

  • Coordinate: target areas of forecasting, Demand Management, Inventory Control, Cost Reduction, product standardization/customization and creative solutions to enhance logistics operations and saving opportunities.

  • Ensure you win; lead and manage multiple large scale analytics projects that drive actionable insights leading to market share gains, increased revenue and profit, and Cost Reductions.

  • Assure your organization provides coaching to managers on how to analyze and identify solutions to drive the business and create greater organizational capability and engagement.

  • Establish: review financial statements, sales and activity reports, and other performance data to measure productivity and goal achievement and to determine areas needing Cost Reduction and program improvement.

  • Guide: pro actively work on service improvement initiatives and service improvement plans to improve Service Quality and implement Cost Reductions.

  • Assure your group develops specific sourcing strategies with equipment providers by focusing on Cost Reduction initiatives to reduce capital investment and /or life cycle costs.

  • Drive financial Performance Improvement initiatives throughout business Cost Reduction, Asset Management, capital efficiency, productivity, price management etc.

 

Save time, empower your teams and effectively upgrade your processes with access to this practical Cost Reduction Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Cost Reduction related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Cost Reduction specific requirements:


STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Cost Reduction Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...


STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 999 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Cost Reduction improvements can be made.

Examples; 10 of the 999 standard requirements:

  1. Are you maintaining a past-present-future perspective throughout the Cost Reduction discussion?

  2. What are the personnel training and qualifications required?

  3. Is it possible to estimate the impact of unanticipated complexity such as wrong or failed assumptions, feedback, etc. on proposed reforms?

  4. How is change control managed?

  5. What prevents you from making the changes you know will make you a more effective Cost Reduction leader?

  6. How do you ensure that the Cost Reduction opportunity is realistic?

  7. Are required metrics defined, what are they?

  8. Have you made assumptions about the shape of the future, particularly its impact on your customers and competitors?

  9. How will your organization measure success?

  10. Do you think Cost Reduction accomplishes the goals you expect it to accomplish?


Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Cost Reduction book in PDF containing 994 requirements, which criteria correspond to the criteria in...

Your Cost Reduction self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Cost Reduction Self-Assessment and Scorecard you will develop a clear picture of which Cost Reduction areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Cost Reduction Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:

 

STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Cost Reduction projects with the 62 implementation resources:

  • 62 step-by-step Cost Reduction Project Management Form Templates covering over 1500 Cost Reduction project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Cost Management Plan: Eac -estimate at completion, what is the total job expected to cost?

  2. Activity Cost Estimates: In which phase of the acquisition process cycle does source qualifications reside?

  3. Project Scope Statement: Will all Cost Reduction project issues be unconditionally tracked through the issue resolution process?

  4. Closing Process Group: Did the Cost Reduction project team have enough people to execute the Cost Reduction project plan?

  5. Source Selection Criteria: What are the guidelines regarding award without considerations?

  6. Scope Management Plan: Are corrective actions taken when actual results are substantially different from detailed Cost Reduction project plan (variances)?

  7. Initiating Process Group: During which stage of Risk planning are risks prioritized based on probability and impact?

  8. Cost Management Plan: Is your organization certified as a supplier, wholesaler, regular dealer, or manufacturer of corresponding products/supplies?

  9. Procurement Audit: Was a formal review of tenders received undertaken?

  10. Activity Cost Estimates: What procedures are put in place regarding bidding and cost comparisons, if any?

 
Step-by-step and complete Cost Reduction Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Cost Reduction project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:

  • 2.1 Cost Reduction project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Cost Reduction project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Cost Reduction project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan


3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log


4.0 Monitoring and Controlling Process Group:

  • 4.1 Cost Reduction project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance


5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Cost Reduction project or Phase Close-Out
  • 5.4 Lessons Learned

 

Results

With this Three Step process you will have all the tools you need for any Cost Reduction project with this in-depth Cost Reduction Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Cost Reduction projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Cost Reduction and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Cost Reduction investments work better.

This Cost Reduction All-Inclusive Toolkit enables You to be that person.

 

Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.