Elimination & Reduction of Services are not the only Tools for Cost-Reduction
I recently read about Elon Musk’s declaration of cutting spending at Tesla and it got me to think about how cost-reduction is often thought as elimination or reduction of purchases or services. While I am not suggesting that Tesla is not in need of aggressive reduction or elimination, we can all agree that layoffs and […]
Keeping an Eye Out For Changes in Industries – Laundry Service Edition
If you told me that I would be reading an interesting article on the laundry industry even last night, I would not have believed you, but here I am, intrigued by an article published by Inc.com. The article pointed out there really aren’t any standout leaders in the industry. But when you combine that with […]
When You are Growing, It’s the Time for Cost Reduction
Growing or acquiring a new firm is an exciting time for a business, but it is also a time when you may absorb costs you do not have to. Cost reduction does take time to benchmark and compare vendors, but during a busy, exciting time, you may not have the time and push cost-reduction off […]