In the next few weeks, companies with under 500 employees will start receiving payments from the Paycheck Protection Act and all companies will continue to make important decisions on how to structure themselves to deal with the current downturn and prepare themselves for the future (Here is one view of the future …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Manufacturing and Distribution, Organizational Development, Strategy 5.0, Supply Chain Optimization, Value stream mapping, on April 13, 2020
Group50 sponsored this webinar which focuses on Recession Planning and Fine Tuning a company’s business plan in turbulent times. Subject matter experts in Finance, Leadership and Operations discussed best practices and the Do’s and Don’ts they learned during their corporate and consulting careers and multiple economic cycles with hundreds of companies ranging from start-ups to Fortune 100 companies such as GE, Black & Decker, Deloitte, Underwriters Laboratories and …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Manufacturing and Distribution, Strategy 5.0, Supply Chain Optimization, on March 26, 2020
We are in a global recession according to global experts in a recent Forbes article. Don’t let this be your Kobayashi Maru – No Win Scenario. Every dollar not spent by consumers reduces downstream spending by 43% according to the current velocity of money statistics. No matter what business you are in, you are being impacted by this atypical recession, one that will likely rival the tech bubble of 2001 and the financial collapse of 2008. If you don’t agree, no need to read further, but can you really take that risk? …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Manufacturing and Distribution, Organizational Development, Strategy 5.0, Supply Chain Optimization, on March 18, 2020
“The world is a supply chain, every company has one and its backbone is technology.”
We just finished supply chain optimization projects for two middle market CPG companies. In one of the projects, we created programs that will reduce inventory by $15M and annual operating costs by $2.5M (You can read the case study here). …Read MoreThis entry was posted in Cost Takeout, Information Technology, Supply Chain Optimization, on May 10, 2019
Most companies are struggling to identify the value of IoT (Internet of Things) and Blockchain in their business. That is partly due to the relationship between Strategy and IoT. While there is a need to have an IoT strategy, it needs to be a subset of the ultimate business strategy. IoT is an enabling technology that allows the business to rethink it strategy, how it goes to market and the product road (goods and services) that IoT enables. As a result, …Read MoreThis entry was posted in Blockchain IoT, Business Transformation, Cost Takeout, Information Technology, Manufacturing and Distribution, Strategy 5.0, on January 9, 2019
The Internet of Everything: 8.4 billion and $2 trillion! Those are the estimated number of connected ‘things’ on the internet and the amount spent on these devices and services by the end of 2017, according to a Gartner study. The number of connected things is expected to …Read MoreThis entry was posted in Business Transformation, Continuous Improvement, Cost Takeout, Healthcare, Information Technology, Manufacturing and Distribution, Strategy 5.0, Value stream mapping, on December 14, 2017
In an earlier blog we saw that a well-crafted IT transformation strategy (a.k.a. cost takeout strategy) is so much more than a once and done cost reduction exercise. A cost takeout strategy orchestrates …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Information Technology, Strategy 5.0, on September 29, 2017
Cost Takeout has been heard at one time or another in every C-Suite and boardroom. The primary objective of every leadership team is to take out cost. We live in a world where everything can be done at lower cost. With that in mind, how does a leadership team develop a cost takeout strategy? The first thing is to make sure everyone is clear on what a cost takeout strategy really is. Let’s start with what it isn’t.
It is not: …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Information Technology, Strategy 5.0, Supply Chain Optimization, on July 27, 2017
Everyone has been through “Cost Savings Programs” and “Cost Reduction Programs”, but what is the Organizational impact of a true Cost Takeout process?
Key descriptors for cost reduction programs include total …Read MoreThis entry was posted in Business Transformation, Cost Takeout, Strategy 5.0, Supply Chain Optimization, on July 24, 2017
In today’s manufacturing world speed and focus are the driving forces behind successful businesses. In the majority of non-defense related industries, customers have a myriad of options to choose from and they are quick to make changes when their profitability suffers from a poor performing supplier. This is especially true in consumer based products where every category of product has multiple vendors located around the world. It might take a few months for a product cycle to move to a new vendor, but once the decision has been made, the cost of reentry is prohibitive on both the top and bottom line. For the vendor and its executive team, when customers are …Read MoreThis entry was posted in Case Studies, Continuous Improvement, Cost Takeout, Manufacturing and Distribution, Organizational Development, Strategy 5.0, on April 12, 2013
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