Driving Down Cost: How to Manage and Cut Costs - Intelligently

Overview

With a new preface and a detailed chapter on applying cost reductions to the public sector, Driving Down Cost provides answers to the conundrums every manager faces about costs: how to stop them growing out of control, where and how much to cut, how to get the management team focused on driving them down, and whether any cuts are too deep.

Wileman sets out a structured, practical approach to intelligent cost management, offering a toolkit of key ideas and cost management ...

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Driving Down Cost: How to Manage and Cut Costs -- Intelligently

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Overview

With a new preface and a detailed chapter on applying cost reductions to the public sector, Driving Down Cost provides answers to the conundrums every manager faces about costs: how to stop them growing out of control, where and how much to cut, how to get the management team focused on driving them down, and whether any cuts are too deep.

Wileman sets out a structured, practical approach to intelligent cost management, offering a toolkit of key ideas and cost management strategies, frameworks for analysing cost and techniques for implementing cost-reduction programmes. Particularly timely in the current wave of cost cutting, it is as relevant to public-sector managers as to the private sector, and to managers in every department.

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Product Details

  • ISBN-13: 9781857885446
  • Publisher: Nicholas Brealey Publishing
  • Publication date: 8/16/2010
  • Edition description: New
  • Pages: 246
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.90 (d)

Table of Contents

Preface to the New Edition 1

The Cost Manager's Toolkit - PDA-size Summary 10

1 Good Cost Management 11

The Unsung Hero 12

Cheaper and Better 14

Managing and Cutting Costs - Intelligently 15

2 Cost Leadership 19

A Challenging Base Case 19

Individual Accountability 21

Persistence 22

A Continuous Improvement Culture 24

Short Timeframes 25

Feedback Loops 26

Strategic Skepticism 27

Top Team: Finance 30

Top Team: Human Resources 32

Role Models 34

Toolkit - Cost Leadership 38

3 Techniques and Tactics 41

Understanding Cost Dynamics 41

Management Accounts and Metrics 45

Bang for Buck 48

Slice and Dice 52

Understanding Natural Cost Trends 54

Cash Cost Not P&L Cost 56

Best Practice (and Level Playing Fields) 58

Competitive Analysis 61

Toolkit - Techniques and Tactics 62

4 People 65

Why Is People Cost So Problematic? 65

Hiring 67

Paying 70

Technology and Productivity 73

Firing 75

Managing the Average Performer 82

Minimizing the Core Organization 84

Toolkit - People 86

5 Suppliers 89

Who Manages Supplier Costs? 89

Understand the Balance of Power 92

Consolidate to Fewer Better Suppliers 93

Negotiate Intelligently 96

Don't Get Locked In 99

Manage Total Cost of Ownership 103

Get Tough on the Costs of Services 105

Toolkit - Suppliers 118

6 Cost Cutting Case Study 121

Month 1 121

Month 2 125

Month 3 131

Month 4 135

7 Wired and Global 143

The Internet 143

Globalization 150

Toolkit - Wired and Global 159

8 Lateral Thinking 161

Indirect Cost Generators 162

Let the Customers Do the Work 168

Cost into Revenue 169

Toolkit - Lateral Thinking 173

9 Cost Management as Strategy 175

Delivering Value via Acquisitions 175

Underpinning Pricing Strategies 180

Discovering More New Growth Opportunities 183

Creating an Effective Center in a Large Corporation 187

Toolkit - Cost Management as Strategy 191

10 Cost in the Public Sector 193

The Size of the Problem 194

What Constitutes Public Spending? 197

Why Managing Public-Sector Cost Is Tough 200

Yes, It's Tough 210

Applying the Cost Manager's Toolkit 213

The Public-Sector Opportunity 222

Conclusion: The Cost Manager as Hero 227

The Cost Manager's Toolkit - Laptop-size Summary 231

Index 239

Acknowledgments 247

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