Finding Hidden Dollars
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discussion of focus on overhead expenses - advantages of reducing costs and reasons why businesses often miss this opportunity
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The document discusses strategic sourcing and ADMA-OPCO's plans to implement it. The goals of strategic sourcing are to increase customer satisfaction, improve internal service levels and product quality, and significantly reduce total costs through coordinated purchasing across the organization. ADMA-OPCO aims to leverage its buying power to obtain goods and services efficiently for end users. The document outlines the strategic sourcing process and opportunities for ADMA-OPCO to analyze spending, the supply base, develop a sourcing strategy, manage negotiations, award contracts, and implement the strategy.
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Finding Hidden Dollars
- 1. Finding hidden dollars… Mary Crawford, Director Expense Reduction Analysts (904) 254-3110 [email_address]
- 4. Non-Core costs Rarely Get Respect Payroll Related Costs 35% Direct Costs 35% Non-Core Costs 20% Senior Mgmt focuses on revenue growth, margin integrity and controlling payroll and direct costs Senior Mgmt does not have time to focus here
- 7. Non-Core Savings Opportunities Office Supplies Factory Supplies Transport Freight & Parcel Records Mgmt Payroll Processing Fees Telecom Voice & Data Printing Cleaning Service & supplies Waste & Recycling Leasing Temp Labor Merchant Card Fees Packaging Insurane
- 8. Typical cost reductions by expense category
- 9. Lowering Non-core Costs Can be VERY Profitable… 20% cost reduction or 40% increase in sales revenue both yield a 40% increase in Net Profit Column1 Current 20% Cost Reduction Increase Sales Revenue $ 100 $ 100 $ 140 Direct operating costs $ 35 $ 35 $ 49 Labor costs $ 35 $ 35 $ 49 Non-core indirect costs $ 20 $ 16 $ 28 Net profit $ 10 $ 14 $ 14
- 10. Expense Management Fallacies/Challenges Staff and Management has limited time to address non-strategic costs Employees with limited experience making buying decisions No benchmark data No time to monitor Suppliers looking out for you Dreaming that 5 companies w/same supplier get same price Believing you can do a great job in all cost categories Assume a level playing field between buyer & supplier Multiple suppliers - Multiple order points Thinking supplier loyalty equals best price/service Expense Management Fallacies & Challenges
- 17. The ERA Process
- 18. Do the Techniques Work? Client Category % Saving Texas Mfg Merchant Card 65% FL Medical office Office Supplies 24% SC Mfg Payroll 35% FL Golf Course Chemicals 10% FL Restaurant Payroll 16% FL Chamber Merchant Card 35%
- 20. Mary Crawford Expense Reduction Analysts is a world-wide organization of over 700 consultants in 30 countries with expertise in over 40 expense categories. Mary is one of 250 consultants in the US. Mary’s background is in operations analysis, maritime, aviation and medical office management. Mary specializes in client management, 904-250-3110 [email_address]