Cost Management

Reducing costs is a serious challenge for many organizations. Identifying cost reduction opportunities without sacrificing quality is critical. Great Tech can prevent your organization from falling into the trap of poor quality.

Great Tech consultants can facilitate positive cost reduction for organizations by performing planning, analysis, and solution development. We work in collaboration with you to identify and eliminate non-competitive, non-repeatable, or non-performing processes. We transfer our accrued knowledge to our clients so that they have the tools to determine specific, measurable means of identifying and prioritizing improvement opportunities, and then optimize and deploy their key resources to solve them, hold the gains, and achieve sustainable, breakthrough results.

Cost Management clarifies the financial principles and methods that guide the evaluation and selection of improvement projects while quantifying the financial benefits. The Pyramid Principal is applied in this area from a cost perspective. Each level has its own set of activities when implementing an improvement project.

The top management act as the steering committee in the medium and long term projects. As they are responsible for setting the course of the business direction, here they are also responsible for the business level savings for these improvement projects.

The middle management are concerned with the operational level cost savings? (at Business Unit level) that is derived from any improvement projects. They also need to ensure that implementation of cost efficiencies are carried out as well.

Great Tech had helped some companies on project level savings. Their activities in any organisational excellence implementation look at the Cost of Quality reduction and process improvements, saving on time, resource and cost.The following satisfactory results were attained.

  • Reduce the customersˇ¦ reject rate from 5% to 2%
  • Increase the companyˇ¦s confidence level for shipment of goods from 1.96 sigma to 2.33 sigma
  • Shorten the delivery time of membership card application from 63 days to 15 days