Archstone Consulting's annual Cost Management survey has revealed 57 percent of companies have yet to identify areas of sufficient cost savings in 2009. The study also found that companies are shifting away from traditional cost saving methods like off-shoring and strategic sourcing and instead favoring more creative options. According to the study, logistics redesign has seen an 11 percent increase, shared services and asset rationalization have each jumped by nine percent. Meanwhile, discreet tactics including restructuring, overhead cost reduction, off-shoring and strategic sourcing have all waned in popularity. President and CEO of Archstone Todd Lavieri said, "companies today have to act very aggressively to protect their profits—they need to review their previous cost reduction plans and examine the savings opportunities that were left on the table in 2008."
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