3 Ways to Strategically Reduce Costs and Enhance Profitability
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2. Benchmarking/process improvement. With the right level of insight into process costs, marketers can understand where to drive operational efficiency and process improvements. Drive down actual expenses to a “cost per” or unit cost level with a common methodology. Variances then can be identified between different facilities, staff, catalogs, etc., identifying clear best practices that can be applied throughout the organization. Another multiple channel retailer used such insight to reduce costs in underperforming facilities by more than $50 million on an annual basis.
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Jerome Patterson
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