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Tag-Team to Wrestle Costs Down

The arithmetic is simple: profits are being squeezed. Finding ways to drive down costs lower than your competition’s has become more important than ever. Here, we describe a different approach to supplier negotiations that might help you gain an edge.

Use labor productivity to drive down purchase costs

 Suppliers often use wage increases to justify nudging up prices each year, usually 1 or 2%. And it’s hard to argue: – seems reasonable, and it’s less than inflation. But wages aren’t the real issue – labor costs are. And

USE PEER PRESSURE TO DRIVE DOWN COSTS

BEST PRACTICE: Use peer pressure to drive down costs for services where consumption behaviors influence end costs (e.g. travel, hotels, car rentals, etc.)   |   Driving down costs by ‘coaxing’ voluntary behavior change. Anyone who survived the social pressure cooker

CHINA LABOUR COSTS ONLY 4% BELOW U.S.

  NEGOTIATOR’S TAKE:  With China’s labor advantage almost gone, you might want to think about bringing manufacturing work back to the U.S.   03.01.16 – Only a 4% gap between costs A recent report estimates that China’s effective labor costs

WAREHOUSE CRACKDOWN CUTS ALUMINUM COSTS

NEGOTIATOR’S TAKE: Good to know next time you are talking to your aluminum or aluminum parts supplier. Manufacturers of goods from cars to soda cans are benefiting from declining aluminum costs, a sign that new warehouse rules aimed at loosening the

US labor costs fall at 1% rate

Productivity, the amount of output per hour of work, increased at an annual rate of 2.3% in the third quarter while labor costs fell at a rate of 1%, the Labor Department reported Wednesday. In the five-and-a-half years since the

Labor costs per employee international comparison

This great graphic was in a new report by KPMG “Competitive Alternatives Special Report: Focus on Tax“. It shows the labor costs of 10 large countries. Labor costs include wages and benefits. There are two parts of benefits, those that legally required

US Unit labor costs fall by 1.4% in Q3

Unit labor costs – a gauge of the labor-related cost for any given unit of output – fell at a 1.4 per cent rate in the third quarter, roughly double the originally estimated fall, underscoring the lack of wage-related inflation

Soaring Chinese labor costs attract robots

From 2005 to 2012, average labor costs in Zhejiang, a hub for private manufacturing enterprises, almost tripled from 14,847 yuan to 41,370 yuan ($6,800) a year, an annual increase of nearly 16 percent. Zhejiang province is to invest 500 billion yuan

US labor costs flat in Q2 – Productivity up at 2.3%

Unit labor costs were flat in the second quarter, less than the 1.4 percent rise the government had initially estimated. U.S. workers were more productive from April through June than previously estimated while labor costs were unchanged. Productivity grew at