Gaining Competitive Advantage in Downturns and Beyond
As the world grapples with the impact of COVID-19, cost optimisation has become essential to survive. In this report, PA Consulting outline the three major actions you should take to kick-start a new approach to taking costs out of your business.
Key actions include:
Look beyond single ‘cost-out’ levers - The full opportunity of cost optimisation comes when you view it holistically within your business
Implement with impact - Businesses often go wrong because they only look at cost-out in terms of products or services. What you need is a highly integrated end-to-end view of all planned and live cost reductions, starting with a clear understanding of the customer journeys you want to create. That will allow you to identify how costs flow through the various functions in your organisation
Sharpen your competitive edge - Many organisations tend to rely on traditional areas like procurement and lean processes. But there are lesser-used opportunities that could make a real difference. This is where you can steal a march on competitors