March 20, 2023
With each new year comes the trepidation of what may be ahead for many of us as our businesses revert to what they were before the COVID-19 pandemic (possibly). Two things are certain: Nothing will remain the same, and if we apply the correct resources toward our clients, better days will be ahead. This is the foundation for my following suggestion: to capitalize on the available human capital we have on hand who may, for the first time in a few years, have some time to focus on cost takeouts for your businesses and key clients.
The use of this approach is certainly not new, but it does require willing participants, some scheduled time, discipline, and the right mix of team members to ensure success for both parties. It is important to note that cost takeouts manifest themselves in unique ways, and possibly, cost-sharing may ultimately need to be established.
The following is an operational value analysis template that I was trained in from my days with Tenneco Packaging in the 1990s. I am happy to share it, and if any further explanation is necessary, please reach out to me.
Note: A suggested question to ask after you possibly identify your top five clients to discuss this approach with depending on your internal and external available resources is, How do we get started, and when?
Let’s make it another great year together.
Tom Weber is president of WeberSource LLC and is AICC’s folding carton and rigid box technical advisor. Contact Tom directly at asktom@AICCbox.org.
