In the current environment, having a low-cost position is a key distinction between that of a market leader and follower. Using time-tested methodologies customized for the client, we help companies create sustained advantages in their cost position, protect margins in down markets, or widen their competitive advantage. These programs use an arsenal of tools to deliver 7 percent to 25 percent reduction of a company’s compressible cost base across multiple areas of the business.
Next Level takes a three-step approach to make cost reduction strategies both efficient and effective. The main goal: work with our clients to set up a system to accelerate profit improvement growth.
- We first help to diagnose key opportunities for savings. The objective of the diagnostic phase is not trying to come up with the answer but rather to identify the general areas to look at, and to scope out the overall potential value.
- From there, we help define targets, using external market benchmarks and internal metrics. This target-setting process is key to success as it helps focus and drive future teams. We recognize the balance between the ability to achieve the target, the risk of leaving dollars on the table, and putting a stretch to encourage creativity.
- With management and cross-functional teams, we design a customized plan for hitting the targets by identifying key leverage points and working collaboratively across functions and addressing concerns to get the necessary buy in.