When it comes to improving the bottom line, companies often head along the same tired route of putting in place cost-cutting and austerity measures as their first line of attack. From fairly benign measures such as cutting back on say, paper and stationary, the severity of measures can quickly escalate to the point where they impact the workforce directly—from mandatory overtime, to reduced bonus or pay rise and even job losses.
Cut backs that directly affect the workforce are almost always short-term fixes. When a company begins to cut staff, company performance often nose dives soon after—negating any slight improvement in bottom line that may have been forthcoming.
Instead of looking at cost cutting as a way to improve the bottom line, forward thinking companies look at improving components of their business. One of the key areas that can really affect a company’s bottom line is the supply chain. For manufacturing companies, the supply chain is a cornerstone of the business, and improving this can result in dramatic and rapid improvements to the bottom line:
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