As we look back through what has happened in 2008, it is no surprise to anyone that the economy has been on everyone’s mind, and weighing heavily on their wallet. From less foot traffic on Black Friday to less web traffic on Cyber Monday, everyone from retailers to wholesalers and suppliers are wondering where 2009 may lead. One bright spot in controlling your business’ destiny this year is adopting a culture of Strategic Cost Management. If you haven’t done so yet, then the start of 2009 is a perfect place to begin looking at the P&L for your business and introduce a new way of spending and saving.
Some may think of Strategic Cost Management and automiatically think to themselves it is all aboout pinching pennies. It isn’t! It could be as simple as looking at some of the inefficiencies in operations and proactively looking for ways to be smarter, more effective, and fiscally responsible. Many of us have reviewed our personal family budgets and shifted spending and investing accordingly. This same philosophy needs to be taken for business as well. It is time to become lean and mean and really plan for the future. Have fun and happy saving!
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