All companies need to establish themselves in a “best cost” position. Forty percent of industry leaders consider cost leadership their key competitive advantage. But how do you know the right cost for each of the components of your products, to create the “best cost” position? What do successful companies do that others don’t? We have discovered that companies that reduced costs and kept them low take a fundamentally different approach from the rest. They:

- Set targets based on external, market-based data, not on internal benchmarks
- Tailor cost reduction efforts to their strategy
- Get the metrics right
- Focus on the “seams” of the organization, not just individual units

Hear from the Purchasing Authority’s Executive Vice President, Mike Betz and Global Synergy & SCS Managing Partner Mark Lauterbach.

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