Automating work | Budget reviews and cuts |
Bulk purchasing | Considering lifetime costs in purchase decisions |
Consolidating hardware and equipment | Consolidating shipments to reduce shipping costs |
Consolidating software and software licenses. | Cutting consultants |
Cutting marketing costs | Cutting out the middleman |
Delaying upgrades | Design to cost |
Desk sharing | Downsizing |
Dropping unprofitable customers | Economies of scale – achieving scale to lower unit costs |
Energy efficiency | Expense approval processes |
Hiring freelancers | Improved maintenance and repair processes |
Increasing asset utilization | Insourcing |
Just-in-time inventory | Negotiation practices |
Outsourcing | Paying down debt |
Performance management for increased employee productivity | Process elimination – shutting down non-critical processes |
Process improvement | Process optimization |
Process re-engineering | Productivity tools |
Purchasing used equipment | Rationalizing systems and technology |
Reduced business travel | Reduced employee perks |
Reduced research & development | Reducing bad debt expenses with tighter credit screening |
Reducing consumption of office supplies | Reducing discretionary spending |
Reducing fees such as payment transaction fees | Reducing hours and overtime |
Reducing office space | Refinancing |
Relocating | Remote work |
Renegotiating contracts and rent | Replacing high cost or low performing suppliers |
Repurposing assets, systems and facilities | Restructuring |
Retiring legacy technologies | Retrenchment – scaling back a business |
Reuse | Selling slow-moving inventory at a discount |
Shared services | Shifting to inexpensive and low maintenance technologies such as cloud platforms |
Supply substitution – switching to comparable products and services | Tax planning |
Tighter expense policies | Value engineering – optimizing function to cost for projects |
Waste reduction | Zero-based budgeting – no entitlement to budget based on previous budgets |
