Reshape your cost structure by attacking product, process, and organizational complexity. Complexity costs creep in slowly over time but must be taken out in chunks.
Cost reduction is rarely off the CEO agenda. Even a company focused on growth needs cost-efficiency to ensure capital is deployed to the right areas. This 'dual focus' means it is critical that leaders today have a more nuanced and precise view of cost reduction, as well as new tools and approaches to address the rise in complexity costs. These costs, driven by variety, are the #1 driver of cost-competitiveness today. They are also a big opportunity. By identifying and attacking complexity costs, many companies have increased their EBITDA by 25%.