Establishment of a continuous cost culture to ensure long-term competitiveness – A case study
To produce cheaper than competitors is an obvious advantage that is aspired by any company in a consumer market. Therefore, reducing costs of the own processes is a topic every business has to deal with. The current literature provides a wide selection of different methods and approaches, how to achieve cost savings in different departments. This paper contributes with practical insights in form of a case study to close existing gaps regarding the implementation of cost reductions in a company. Especially the identification of non-value-adding steps is analyzed, to avoid damaging key functions while decreasing expenses. Furthermore, special focus lies on the extension of cost down activities to long-term perspective as well as how to make sure that started measures will have a visible impact in the financials of a company.