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BAE Systems provide us with quick and easy solutions that balance both precision and simplicity.

BAE Systems provide us with quick and easy solutions that balance both precision and simplicity.

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  • 1. Foundations of Excellence Quick and Easy Solutions *Includes a follow-up WebinarSlide Main Title Andrew Muras Systems Engineering Solutions 4319 Greenwood Lane Grapevine, TX 76051 817.481.2997 andrew.muras@baesystems.com 118 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010
  • 2. !!! WARNING !!! !!! POWERPOINT IN USE !!! THIS INFORMATION IS BEING PRESENTED IN POWERPOINT  WHICH HAS BEEN DETERMINED BY THE ARMY TO BE THE  NUMBER ONE CAUSE FOR DECREASED COMMON SENSE.   PROLONGED EXPOSURE TO POWERPOINT HAS BEEN LINKED TO  COGNITIVE ATROPHY WHICH IS THE DEGENERATION OF  COGNITIVE SKILLS DUE TO EXPOSURE TO NONSENSICAL CANINE  AND EQUINE PRESENTATIONS. IF YOU EXPERIENCE DIZZYNESS, DROWSENESS, OR SYMPTOMS OF ADD /ADHD, IMMEDIATELY STAND UP AND LEAVE  THE PRESENTATION.  SEEK FRESH AIR AND CONTACT THE “PREVENT POWERPOINT ABUSE” HOTLINE AT 1‐900‐DOG‐ PONY.18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 2
  • 3. OverviewFastTrack first developed in 1992Hundreds of Implementations12 – 15 to 1 Return on InvestmentSingle week implementation resultsFree, Web-based software toolMultiple Applications:• Process Analysis & Improvement Published in June 2009• Back Office and Manufacturing www.simpleprocessmgmt.com• Customer & product Profitability Over two dozen articles published:• Capacity Analysis • Journal of Corporate Accounting and Finance• Performance Metrics • IT Financial Management Association Journal • Petroleum Accounting and Financial Management• Shared Services Journal• Outsourcing Analysis • Shared Services News • Measured Quarterly 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 3
  • 4. Sample Clients18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 4
  • 5. Best Practices for the Back Office1. Governance – Run it like a business2. Performance Management – Passion for metrics3. Service Definition – Know thyself4. Customer Relationship – Focus on communication5. Chargebacks & Funding – Transparency to drive behaviors6. Technology & Systems – Consolidate, standardize and optimize/automate7. Workforce – Hire for attitude and train for aptitude8. Continuous Improvement – Create a culture that rewards improvement9. Implementation – Mandate from the top 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 5
  • 6. Top-down/Bottoms Up- Data-Focused Two-stop shop solution - Passion for Operational & Metrics Strategic metrics Balanced Data to support other Balanced Scorecard metrics Scorecard Benchmarks Defined Service Defines/Quantifies Portfolio services Svc Service costs/metrics Catalogue Responsibilities ABM Focus on Customer Provides all supporting Communication SLA data IDs activities & ABM in concert with a scorecard SLA commitments Process yields significant benefits* Process Outputs – ABM supports improvements in operational efficiencies, Transparency to Chargebacks Drive Behavior whereas a scorecard Best Practices supports a change in strategy Target/Outsource Costs Chargebacks – Scorecards without activity- Capacity & budgeting Separate Shd based models rely on error- Insight Svcs budget prone allocations Culture of Continuous * North American Survey reported in CMA Process improvement Improvement initiatives/NVA Management Activities Time Input: No •Prepare Paychecks Exception Reporting; Time Input: Payroll •Audit & Correct Timesheets Direct Input; Supv./ Yes Paper Timesheets Input •Process & Audit Personnel Actions Time Input: System Delivery to HR Personnel Agenda Dept. Input Dept. Approval •Enter & Audit Payroll Deductions All Employees Payroll for Auditing No •Correct Paycheck Error ROI/Bus case data HR Benefits Report No Yes Yes Generate System Delivery to Supervisor Approval Dept. Approval Make Corrections Edit Run Payroll for Auditing Enter New Hires, Promotions & Transfers 100% Audit Complete & Correct? HR Personnel Agenda (Daily) ESS Deduction Changes No 5% (200 timesheets) Audit Actions & Chgs.; Re-Audit Timesheets (150 records) Yes Trackdown Errors Enter Changes Regarding Benefits HR Benefits Report Generate Edit Run No Term. (CS3) Make Corrections(Daily; 5-7 per Pay Period) Enter All Other Payroll Deductions Paper Emp. Changes Timesheet or Dept.100%No Complete & Correct? Yes Error? Audit Audit Actions & Chgs.; Re-Audit Timesheets (750 records) Process Maps Trackdown Errors Yes No Enter Terminations Paper (CS3) Term. No Update Yes Timesheet or Dept. Error? Complete & Correct? 100% Audit Payroll Print Manual Checks Make Corrections & Voids No Yes Hand Sort by Department (2 people, Update Disburse Yes Correct? 100% Print Check and Advices Disburse 3 hours)54% Direct Deposit Payroll 46% Paychecks 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 6
  • 7. Industry Adoption of ABM & BSC18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 7
  • 8. The ABM Cross Resources are consumed by Activities which are consumed by Products & Services Resources Cost Assignment View - Activity Based Costing (ABC) Outputs and Cost Drivers Activities Performance Measures What Activities & Services/ Products Cost? Services Process View - Activity Based Management (ABM) Sound Business Decisions What Are the Causal Quality Improvements Factors? How Well Are Activities Performed?18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 8
  • 9. Traditional Vs. ABM View Traditional Accounting View Activity Based Management View of Purchasing Department of Purchasing Department Salaries . . . . . . . . . . . . $ 375,000 Select Suppliers . . . . . . .$ 82,000 Benefits . . . . . . . . . . . . 92,000 Procure Material . . . . . . 175,000 Supplies . . . . . . . . . . . . 47,000 Certify Vendors . . . . . . . 92,500 Telephone . . . . . . . . . . 8,500 Expedite Shortages . . . . 142,500 Utilities . . . . . . . . . . . . 16,000 Resolve Problems . . . . . 83,000 Depreciation . . . . . . . . 23,500 Travel . . . . . . . . . . . . . 13,000 Total $575,000 Total $ 575,00018 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 9
  • 10. Activity Based Management - Unit Costs and Benchmarks - Activity Based Management View Output/ Purchasing Department Year Unit Cost Select Suppliers . . . . . . . $ 82,000 200 $410/Supplier Procure Material . . . . . . . 175,000 2,000 $87.50/PO Certify Vendors ....... 92,500 20 $4,625/Vendor Expedite Material . . . . . . . 142,500 300 $475/Expedited PO Resolve Problem . . . . . . . 83,000 200 $415/Blocked PO Departmental Benchmark? Total $ 575,000 $575,000 2,000 POs = $287.50 per PO18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 10
  • 11. Identifies True CustomerCosts, Benchmarks, BestPractices, & SLA Data Volume Business Business Business Unit Cost Unit A Unit B Unit C Select 200 100 70 30 Suppliers $410/Supplier $41,000 $28,700 $12,300 Procure 2,000 500 1200 300 Material $87.50/PO $43,750 $105,000 $26,250 Certify 20 15 4 1 Vendors $4,625/Vendor $69,375 $18,500 $4,625 Expedite 300 150 100 50 Materials $475/Expedited PO $71,250 $47,500 $23,750 Resolve 200 125 60 15 Problems $415/Blocked PO $51,875 $24,900 $6,225 $277,250 $224,600 $73,150 Totals $554.50/PO $187.17/PO $243.83/PO18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 11
  • 12. Example Procure-to-Pay Process Develop Process Warehousing Pay Requisitions / PO / Receiving Vendor Requirements 23% 39% 22% 16% $100,000 $10,000 Unit Cost/ Unit Cost $1,000 Line Item A.$ 530 $100 B.$ 230 $10 C. $ 80 $1 1 2 3 4 5 6 7 8 9 10 Activity18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 2007 12
  • 13. ABC Chargeback vs ‘Regular’ % Difference Between ABC and Avg Line Item Chargebacks80%60%40%20% 0% BU A BU B BU C BU D BU E BU F BU G BU H BU I BU J BU K BU L BU M BU N BU O BU P BU Q-20%-40%-60%18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 13
  • 14. Balancing Precision & Simplicity: The Simple Approach to SLAs and Chargebacks• Develop rates and costs (i.e., chargebacks) once per year• Minimize service options/levels• Customer coordination is a must• Integrate improvement as a fundamental element (customer partnerships help)• Minimize cross charging• No weekly time charging• May not include facilities costs• Charge actual costs versus “market” pricing• Will evolve over time Documents & SLAs & Process & Transactions Chargebacks Communications Tool 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 14
  • 15. NVA and Process Improvement Activity Based Management View - Purchasing Department Expedite Materials = $142,500 Select Suppliers . . . . . . .$ 82,000 Cost Driver Freq. % $ Impact Procure Material . . . . . . 175,000 Defective Material 185 38.5 $54,862 Error in Purchase Order 123 25.6 36,480 Certify Vendors . . . . . . . 92,500 Bad Scheduling 67 14.0 19,950 Expedite Materials... . . . 142,500 * Non Value Added Inventory Errors 35 7.3 10,402 Damaged in Transit 28 5.8 8,266 Resolve Problems . . . . . 83,000 * Non Value Added All Other 42 8.8 12,540 Total 480 100 $142,500 Total $ 575,000 Management Reports Resolve Outstanding Reconcile/Pay Other Reconcile/Pay Telco Support for Specific Budgets/Forecasts Develop Rates for Management and Improvement and Provide Financial Provide Financial Provide Financial Decision Support Special Projects Payable Issues Administrative Best Practice Advisory and Continuous Impact Services Services Invoices Invoices Prepare Internal Organization and Management Staff Issues and Training 5% 10% 40% 20% 30% 10% 5% 10% Organizational Complexity(complex reporting, changing 70% 15% 10% 5% 15% 70% 60% 15% priorities, lack of direction/need for decisions, unclear value chain rules, financial work transfer issues Lean Six Sigma Time Constraints and Unrealistic Deadlines Internal Systems 70% 10% 10% 10% 40% 80% 25% 25% Lack of timely/accurate info from Internal systems & branches 20% 15% 10% 40% 15% 28% 50% 25% 25% 50% 50% Low (not updated, dont trust systems, inventory errors, etc.) Difficult to access data/reports (reconciling, FA, etc.) 5% 10% 10% 10% 10% 5% 5% 10% 5% NVA/ Manual processing rqd/manual work-arounds (e.g., unique 80% 10% 20% 15% 10% 25% 80% 50% 60% 80% Hanging billing charges thru AR) Vendor Practices Process Differing interpretation of tariffs/contracts(e.g., late payments) Inaccuracies of vendor billing (link w/internal sys, special deals 3% 10% 10% 10% 70% 5% 5% 10% 70% 5% 5% 13% Fruit Changing structure of vendor electronic invoices/lack of 5% Analysis standardization requires IT fixes Policies and Procedures Lack of standardized procedures (reconciliation process, no 23% 10% 25% 30% 5% 5% 50% 40% 20% 25% 10% manuals, inconsistent forecasting, charge # housekeeping) Continually changing external policies/rules/regulations 10% 10% 10% 5% 5% 10% Lack of knowledge of policies and procedures in CITS 5% 10% 25% 5% 10% 5% 10% 13% 13% 10% Contractual Obligations 80% 9 10 7 10 9 11 7 8 8 8 8 Don’t Bother NVA Totals Total labor Only Activity Cost $ 2.8100 31.2% 228,100 $ 1.1000 11.0% 81,927 $ 1.0000 14.3% 146,387 $ 2.4000 24.0% 159,714 $ 0.9000 10.0% 70,897 $ 2.1750 19.8% 52,744 $ 1.7000 24.3% 80,758 $ 3.1800 39.8% 128,032 $ 1.8800 23.5% 145,664 $ 2.0500 25.6% 144,539 2.6800 33.5% $ 187,421 Total NVA Cost $ 71,218 $ 9,012 $ 20,912 $ 38,331 $ 7,090 $ 10,429 $ 19,613 $ 50,893 $ 34,231 $ 37,038 $ 62,786 Internal Organization and Management $ 36,749 $ 2,867 $ 2,091 $ 7,986 $ 2,364 $ 3,596 $ 2,885 $ 24,806 $ 12,746 $ 7,227 $ 5,857 Staff Issues and Training $ 1,267 $ 819 $ - $ 6,389 $ 1,576 $ 1,438 $ 1,154 $ 800 $ 1,821 $ - $ - Organizational Complexit $ 17,741 $ 1,229 $ 2,091 $ - $ - $ 240 $ 1,731 $ 11,203 $ 10,925 $ 2,710 $ - Ease of Implementation Time Constraints and Unrealistic Deadlines Internal Systems Lack of timely/accurate info from Internal systems & branches $ $ $ 17,741 26,612 5,069 $ $ $ 819 2,048 1,229 $ $ $ 6,273 2,091 - $ $ $ 1,597 9,583 6,389 $ $ $ 788 2,364 1,182 $ $ $ 1,918 2,277 1,319 $ $ $ 9,807 5,769 - $ $ $ 12,803 17,604 4,001 $ $ $ 14,566 4,552 - $ $ $ 4,517 21,681 9,034 $ 5,857 $ 31,627 $ 11,714 Difficult to access data/reports $ 1,267 $ 819 $ 2,091 $ - $ - $ 479 $ 1,154 $ 800 $ 910 $ 1,807 $ 1,171 Manual processing rqd/manual work-arounds $ 20,276 $ - $ 2,091 $ 3,194 $ 1,182 $ 479 $ 2,884 $ 12,803 $ 9,104 $ 10,840 $ 18,742Cost Driver Analysis allows you to Vendor Practices Differing interpretation of tariffs/contracts Inaccuracies of vendor billing Changing/Lack of standard structure of electronic invoices Policies and Procedures $ $ $ $ $ 760 760 7,096 - - $ $ $ $ $ 1,638 819 819 2,457 - $ $ $ $ $ 12,547 - - - - $ $ $ $ $ 13,576 1,597 11,180 799 7,187 $ $ $ $ $ 788 394 394 1,576 - $ $ $ $ $ 3,835 479 3,356 720 - $ $ $ $ $ 6,923 - - - - $ $ $ $ $ 8,483 - - - - $ $ $ $ $ 910 910 6,009 - - $ $ $ $ $ 8,131 - - - - $ $ $ $ 4,217 1,171 3,046 $ 21,085 -develop and map process improvement Lack of standardized procedures (reconciliation process, no Continually changing external policies/rules/regulations Lack of knowledge of policies and procedures in CITS Contractual Obligations $ $ $ 5,829 1,267 - $ $ $ 819 819 819 $ $ $ 5,228 2,091 5,228 $ $ $ 4,791 1,597 799 $ $ $ 394 394 788 $ $ $ 240 240 240 $ $ $ 5,769 1,154 - $ $ $ 6,402 2,081 - $ $ $ 3,642 2,367 - $ $ $ 4,517 1,807 1,807 $ $ $ 2,343 $ 18,742 - -and transformation ideas $ 71,217 $ 9,010 $ 20,911 $ 38,332 $ 7,092 $ 10,428 $ 19,615 $ 50,893 $ 34,231 $ 37,039 $ 62,786 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 15
  • 16. Process Mapping18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 16
  • 17. Process Improvement Decisions User Inputs Cost Drivers Ease of Strategic Cost to Categories & Sub-Categories Changing Importance Implement RELATIVE ROI a APEx Phase III 3 1 9 10 10 Technology b Need for Automated Workflow 7 4 7 Limitations Str Import 8 5 6 $ Impact c Enhanced self-service System d 0 0 0 e 0 0 0 f Ownership issues - why in AP? 2 7 1 Organizational 3 7 2 Procedures g Policy Governance/ Training Issues Behaviors; 5 5 Improper 5 5 4 Policy & h Vendor Maintenance/ Feeder System Reliability Internal i 0 0 0 j 0 0 0 k Non Compliance 7 3 2 l 0 0 0 Behaviors; Procedure Improper 0 0 0 Policy & External m Related n 0 0 0 0 0 o 0 0 0 0 5 Ease of Changing 10 0 5 Ease of Changing 10 p Union 10 9 9 Low Hanging Fruit Easy to Change & Strategic Environment q 0 0 0 Dont Bother Dont Bother r 0 0 0 Investigate Further: NVA/LSS Investigate Further: NVA/LSS Union s 0 0 0 t 0 0 0 1=easy, 10=cmplex 1=Str, 10=Not Str 1=low, 10=high Activities Cost FTEs NVA Percentage NVA Dollars NVA FTEsPrinting Emailed Invoices $178,007 0.80 Non-ValueBatching/ Scanning Emailed & Mailed $257,687 1.10 Added,Processing/ Validating Invoices $592,714 3.30 $1,651,261 ,Working Unenterable Invoices $495,512 2.60 Value Added, 44%Working Discrepant Transactions $546,743 3.15 $2,111,363 ,Handling Returned Checks $79,690 0.30 56%Bank Reconciliations $158,044 0.70Process Emergency Checks $62,914 0.20Creating Vouchers $116,617 0.50Duplicate Processing $65,551 0.20 System TechnologyHandling Escheatments $62,914 0.20 Cost Drivers Breakout LimitationsResearch Requests $147,218 0.65Creating Credit Cards $198,586 0.75System Maintenance-Credit Cards $195,670 0.65 $254,330 Improper InternalAdministering Policies & Procedures-CC $167,534 0.45 Organizational Behaviors; $34,225 Policy & ProceduresReporting, Audit Request & Budgeting-CC $156,779 0.40Management and Administration $280,441 1.05 $765,198 Improper External Behaviors; Policy & Procedure Related $597,508 Union Environment $3,762,621 17.00 $200K $400K 1.0 2.0 50% 100% 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 17
  • 18. Key Operational Performance Measures Time/ Cost Quality ThroughputSelect # hours to maintain list % change in suppliers # suppliers inSuppliers #manual vs auto updates % supplier problems master listProcure $/Automated PO # Blocked POs Transaction time/POMaterial $/Manual PO # Returned items # Annual receiptsCertify Cost to certify # Contracts let to # Weeks to CertifyVendors certified vendorsExpedite Cost/expedited PO # Material returns # POs expeditedMaterials % add’l $/item % Supplier CausedResolve # hrs spent on problems Survey Results # ProblemsProblems #manual vs auto updates Time to unblock PO Average Cost/PO Total # Blocked POs Total number of PO’s TOTAL % Auto vs manual POs % auto vs manual18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 18
  • 19. A “One-Stop Shop” Solution Activity Based Costing/ Quantifies activities & costs Business Case Data Management Identifies non-value added Capacity & Budgeting DataBudget AnomaliesDepreciation Analysis Resources Metrics, Benchmarks, & Bal Scorecard Data Outputs and Cost Drivers Activities Performance Measures Services SLAs and Chargebacks Outsourcing Comparisons Best Practices Process improvement initiatives Target Costs Return on Investment data Process Maps18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 19
  • 20. Implementation Philosophy (and it only takes 1 week)18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 20
  • 21. Internationally Recognized FastTrack.ABMtm Approach Identify Activities Implement Identify Improvements Outputs Trace Costs Map Processes Process• Fast – results within 1-2 weeks Improvements• Builds Group Consensus• In-house Expertise – train-the-trainer Performance techniques Measures• Results – typically a 15-1 return on investment• Free, Easy-to-Use Software 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 21
  • 22. FASTTRACK.ABMtm Web- based Software Simple point-and-click for developing models quickly “Powerful, easy and simple tool for fast results with little investment” Quick response calculations David Goldrick, International Paper “User friendly and fast. Love the Low memory requirements roll up feature.” Rose Ann Arteaga, Ft. Sam Houston Individual models of the ability to create Enterprise Models with multiple sub-models Printable or exportable reports to multiple formats Full web security Web-based data collection Activities Summary Corporate Payroll Department Activity Name Description NVA Output Output Measure Unit Cost Total Cost Quantity Audit Labor Collection System Audit weekly automated postings of tim e from the aut omated labo r 12688 # of Electronic Time Sheets $7.69 $97,606.00 correction system used by factory employees. Generate/Audit Payroll Checks Includes completing nece ssary paperwork such as preparing and filing 7440 # of Payroll Checks $10.71 $79,710.40 quarterly payroll taxes Process/Audit Manual Time Examine all manual time sheet s for correct hours and labor codes. 3432 # of Manual T im e She ets $18.83 $64,610.00 Sheets C ompare postings with pr evious weeks data for discrepancies. Solve Problems C ustom er service functions for all departm ents including resolving prob lems 600 # of Inquiries $50.36 $30,218.95 Perform General Managing and coaching all employees in the payroll department . Other 5 # of Employees in $5,214. 85 $26,074.25 Administration activities includes attending meetings and com pleting necessary D epartment Correct Labor System Er rors C orrect factory employees posting error s found during audits. 1269 # of Labor System Er rors $20.26 $25,708.25 Correct Manual T im e Sheet C orrect Office employees m anual postings based on errors found during t he 858 # of Manual T im e She et $23.15 $19,862.15 Err ors audit. Send errored t imesheets back to depar tment for cor rection and Errors Total: $343,790.0018 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 22
  • 23. Sample Results Equiva Services/Shell Oil – Costs and Chargebacks for all Finance & Accounting – $2.5 Million in Potential Savings Opportunities – Approximate Investment of $150K Levi Strauss and Co Shared Services Center – Hybrid Approach of Balanced Scorecard and ABM – $1.5 M in Potential Savings Opportunities of $7.5M Budget – Approximate Investment of $70K CITGO Petroleum Shared Services – Studied entire Shared Services operation (700 FTEs, $100M) – $20 Million+ in Potential Savings Opportunities – Approximate investment of $500K Tarrant County/Ft. Worth, TX – Train internal team for targeted process improvement studies – $1M+ in Potential Savings; captured $600K+ in one dept – Approximate Investment of $100K18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 23
  • 24. McKinsey QuarterlyWhy Don’t Back-Office Efficiency Drives Stick? Jan 2010Difficult economic times spur CEOs to demand cuts in corporate back offices – which canrepresent 15 - 20 percent of a company’s personnel expenses and are thus prime targets.Savings are often fleeting —barely four in ten companies meet their one year cost cuttingtargets, and by year four fully 90 percent of costs are right back where they started.Why? Sweeping, top-down cuts that—while fast, easy, and seemingly fair—canunintentionally lower the effectiveness of back-office servicesAcross-the-board layoffs eliminate muscle as well as fat. Efficiency is only half of theequation. To capitalize on the potential for improvement and make changes stick,executives must also consider effectiveness.Management must probe the root causes of these performance deficits to learn wherelean and other process-improvement techniques might be advantageous.Mastering interdependencies and greater transparency allows better decisions and tointegrate support services more closely with core businesses to improve productivity. 18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 24
  • 25. Case Study18 August, 2010/Unclassified COMPANY PRIVATE Copyright BAE Systems 2010 25