Why Good Management Consultants Are So Expensive?

although I am writing this blog post to note down my precise thoughts just for a handful of people, it might be useful for  a whole lot of other people too. That is why I am making it public. This post is written in response to a frequently asked question that I face – and

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SUPPLY CHAIN MANAGEMENT CAN BE EASIER WITH GOOD REPORTING REGIME IN PLACE

How to Prepare Simple, Effective Cost Management Reports (part 1)

By Doug Hudgeon The Cost Reduction Tip Effective management accounts are critical to a cost reduction initiative. Without it, your stakeholders can’t see that their pain is justified. It’s like the difference between running on a treadmill (without a watch or odometer) and running through the countryside. If you have a destination and can track

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Teach Your Old Vendors New Tricks

By Doug Hudgeon The Cost Reduction Tip In the 1970s and 80′s, skateboarding went through a renaissance. Difficult tricks became commonplace and impossible tricks became possible. The invention of polyurethane wheels in 1972 and the US drought in 1976 (which led to the draining of concrete pools) kicked off these advances but it was not

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How to Identify Cost Reduction Opportunities

By Doug Hudgeon The Cost Reduction Tip Certain problems when you first look at them seem intractable. But once you understand their natural fracture lines, breaking them up and solving them is actually quite easy. Most business process problems fall into this category and cost reduction problems are no exception. The natural fracture line for

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Cost Reduction – Start by Looking for Game-Changing Opportunities

By Doug Hudgeon The Cost Reduction Tip When looking at cost reduction opportunities in an area, you should start by assuming that you can remove 100% of the cost. If that’s not possible, then look at ways to remove 90% of the cost. If you don’t start ambitiously, you’ll miss some real plum cost reduction

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How to Build Your Own Cost Analysis Monte Carlo Simulation in Excel or Google Spreadsheets

By Doug Hudgeon The Cost Reduction Tip After posting yesterday’s tip, I’ve received a few requests to explain how the Cost Analysis Monte Carlo spreadsheet works. I hope you find this post useful. Note: For those who are fire walled from Google Docs, please click this link for an Excel version of the Cost Analysis

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