Greybeard releases updated cost reduction benchmarks
GREYBEARD ADVISORS: NOW IS THE TIME TO ACCELERATE PROCUREMENT TRANSFORMATION SUPPLY CHAIN IMPROVEMENT EFFORTS
Firm Releases Updated Cost Reduction Benchmarks and Emphasizes Sustainable Boost to Return on Invested Capital Earnings Per Share; Executive White Paper Available
PITTSBURGH, PA (April 22, 2009) Greybeard Advisors LLC, leading advisors in procurement transformation, strategic sourcing, and supply chain management, said today that it has released updated cost reduction benchmarks achievable through its robust strategic sourcing process for managing corporate costs.
Robert A. Rudzki, Greybeard president, said the revised benchmarks, many with achievable double-digit cost reductions, reflect successes working with clients and opportunities created by the current economy.
See the updated benchmarks on the Resources page of the Greybeard Advisors website.
More than fifty percent of many companies total costs stem from procurement and supply chain spending. But some managers are deferring efforts to make real, long-term procurement transformation improvements at a time when those strategic initiatives are most needed, Rudzki said. Companies that embrace a robust strategic sourcing process, as one part of a comprehensive procurement transformation and supply chain management plan, will outshine their competition regardless of what is happening with the overall economy.
Rudzki said that Greybeard focuses on both short-term fixes and a systematic procurement transformation process, including embedding best practices and processes such as strategic sourcing, as well as new staff capabilities and skills.
Our advisors have added significant value to clients across diverse industries. In this economic environment, we have helped clients create a balanced portfolio of quick wins and strategic initiatives, he said. Quick wins help the bottom line immediately, and create a funding mechanism to support ongoing strategic initiatives that add the most value in a sustainable manner. That can have a dramatic long-term boost for return on invested capital, earnings per share and other financial measurements of success.
Rudzki recently authored an executive white paper, available on the website homepage, titled Driving Outstanding ROIC and EPS through World Class Supply Management that details many of these concepts.
Revamping procurement and supply chain management processes across an enterprise can be complicated. We bring to each engagement an in-depth knowledge of best practices, the ability to conduct thorough assessments, and then the expertise and experience to develop and implement successful change strategies quickly and effectively, Rudzki said.
We have released our updated benchmarks to show what can be achieved, if best practices in supply chain management are understood and a procurement transformation roadmap is thoughtfully designed and implemented, he added.
