India Retail News

When the economy weakens, companies often need to make quick cost reductions to preserve their profitability. But such cost-reduction initiatives may create their own problems or fall short of their goals, unless managers first address a few key questions. These include: Which initiatives have the most potential? Will these initiatives generate savings quickly? Can we pursue these initiatives without disrupting our company? Fortunately, there are strategies that companies can use, which often achieve real and rapid cost reduction, without interfering with their day-to-day operations. Companies can usually benefit by revisiting and reapplying these evergreen practices.