Owners and shareholders demand high growth potential and profitable new initiatives to play in the new age of advanced mobility. Companies must free up cash to invest in new technologies like electrification, connected and autonomous vehicles and shared mobility without hurting their balance sheet.
Increased year-on-year cost reduction targets are often part of routine business. Individuals or small groups spread out in different departments are responsible for cost reduction as one of possibly many other objectives. A holistic, organization-wide, and collaborative effort can unlock savings opportunities that are not visible from the traditional perspective.
Ricardo Strategic Consulting (RSC) engages as a single owner for the whole organization’s cost reduction efforts. Our clients value the technical and strategic expertise we offer in working with their teams to find and implement cost reduction opportunities. We engage throughout the organization (in purchasing, engineering, supply chain, manufacturing and marketing groups) to generate synergies across departments and optimize trade-offs. Our proven analytical approach to assessing our clients’ addressable spend allows our team to model large datasets, to provide evidence-based analysis of trends and cost drivers and to assess and prioritize opportunities to implement. The RSC team has a strong track record of delivering cost savings for a range of industry stakeholders, including original equipment manufacturers (OEMs) and Tier 1s. Our holistic Total Value Management (TVM) approach to maximize ROI has resulted in hundreds of millions in annual cost savings for our clients.
Our capabilities combine our expertise and experience in planning, engineering, and program management including:
Deliver organization-wide cost reduction with an RSC team of design and manufacturing engineers, procurement specialists, supply chain experts and marketing professionals
Attain procurement cost reductions through TVM activities
Lead and support projects with consultants around the globe working with regional team resources in our clients’ organizations
Accelerate and implement comprehensive cost reduction initiatives by tracking critical path actions and progress and adjusting methodology to achieve deliverables that are on-time and on-budget
Deploy cost reduction playbook within client organization that is used by working team to move toward cost avoidance and ‘doing right, first time’