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Cases Cost reduction in focus

From medium performer to world class performer.

New Future Formula has over the past 18 months completed a quality cost reduction program for an international company with head office in Eastern Denmark.

The result has been development and implementation of a plan to continue cost reduction across the company, spanning all of Northern Europe. This will generate cost reductions of min. 2% of the cost base per year, which is the level of world class companies. In phase one the program has generated a larger amount of cost reductions. Next phase for first half of 2011 is well under way to do the same. The goal is for the total cost reduction to reach more than 200 million in the first 36 months, and the actual ambition is to lift the company up into the European elite within the next 5 years. Management and key employees have been trained in mental aspects along with the methods for EFQM Business Excellence.

Simultaneously a plan has been created to reach the ambitious goal. Coordinated work is done in several areas: short and long term, an attitude and system perspective, to sow and harvest.

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