cost reduction NCCI Proposes 9.1% Loss Cost Reduction By ww3.workcompcentral.com Published On :: Mon, 12 Aug 2024 00:00:00 -0700 The National Council on Compensation Insurance filed with the West Virginia Office of the Insurance Commissioner a proposed workers’ compensation loss cost decrease of 9.1%, effective Jan. 1. If approved, the… Full Article
cost reduction Insurance Department Announces 8.4% Loss Cost Reduction By ww3.workcompcentral.com Published On :: Fri, 18 Oct 2024 00:00:00 -0700 The Kentucky Department of Insurance approved an 8.4% average loss cost reduction for policies incepting in 2025. The department said this is the 19th consecutive rate decrease. Kentucky Insurance Commissioner Sharon… Full Article
cost reduction Air Barrier Testing: Cost Reduction Solutions for School Systems By www.achrnews.com Published On :: Mon, 14 Jan 2019 07:19:00 -0500 The Charlotte Mecklenburg School System (CMSS), the 19th largest in the U.S. with a $1.3 billion operating budget, recently decided to take action to identify school system buildings that might be exhibiting air leakage. Full Article
cost reduction Cost Reduction by Redesigning the Product By strategystreet.blogspot.com Published On :: Thu, 03 Mar 2011 23:53:00 +0000 Over the last several years, we have studied many examples of cost reduction initiatives to improve productivity and create economies of scale. In simplest terms, there are four actions that improve productivity and economies of scale. First, reduce the rate of cost you pay for an input. Second, reduce the inputs that do not produce output. Third, reduce unique activities or components in products and processes by redesigning the products and processes. Fourth, spread fixed cost activities over new product output. The cellular telephone carriers are introducing measures to reduce their costs by redesigning the product.The wireless carriers use cellular towers to broadcast their signals. The cellular product design offers signals traveling long distances, primarily for voice and for relatively low data speeds. A cellular tower is expensive but capable of sending a signal for several miles. This cellular technology worked well until the evolution of the smart phone. The growth of the smart phone has put very high demands on the cellular tower infrastructure because of the heavy data usage it brings to the market. Since 2010, data has taken over the majority of network traffic from voice communications. Now the carriers and, in particular, AT&T with its Apple iPhones, is having difficulty keeping up with the growth in demand. AT&T today and, likely a few others in the future, has found a potential innovative solution, adding Wi Fi access points. These Wi Fi access points are ideal for heavy data traffic sent at high speeds over relatively short distances. Wi Fi access points transmit signals over a few hundred feet. The Wi Fi access points are smaller, easier and cheaper to install than are cellular towers. This low-cost approach appears to make sense in areas with high density of users. AT&T has placed them in New York’s Time Square and Rockefeller Center, in downtown Charlotte, North Carolina, in neighborhoods surrounding Chicago’s Wrigley Field and in San Francisco’s Embarcadero Center. But there are some drawbacks to Wi Fi access points. Sometimes, a user has to take several steps to connect to a Wi Fi access point. Signals from the Wi Fi access points may interfere with one another, if signals come from multiple networks. Some smart phones do not have Wi Fi capability. These disadvantages have, so far, held back Verizon Wireless’s adoption of this apparently low-cost approach to providing service.AT&T is leading this cost-saving innovation experiment. Their network strains force it to be creative and experimental. AT&T saves costs by redesigning the product itself using a less expensive technology with some shortcomings. If the AT&T experiment proves both cost effective and acceptable to cellular customers, every other wireless carrier will be forced to adopt it. And since a Wi Fi access point is largely a fixed cost, the wireless carriers with the highest density of membership within the Wi Fi area will have the lowest cost per unit. In most areas of the country that is likely to be either Verizon or AT&T. They will end up getting a unit cost advantage over their smaller competitors…if this works. Full Article ATandT cost management cost reduction economies of scale industry leader productivity improvement Verizon Wireless
cost reduction Nestlé’s Cost Reduction in the Coffee Business By strategystreet.blogspot.com Published On :: Thu, 02 Jun 2011 02:47:00 +0000 Nestle is the world-wide leader in the coffee business. They offer coffees at virtually all price points. They invented instant coffee in the 1930s. After the buffets of the commodity markets over the last few years, the company has created a global push to reduce its costs and to increase the quantity and quality of the coffee it buys. We have found four generic approaches to reducing costs. • First, reduce the rate of cost of a cost input. • Second, reduce the cost inputs that do not produce output. • Third, reduce unique activities and components in processes and the product • Fourth, spread fixed cost activities over additional product output Nestle is using the first three of these approaches in its world-wide investment in cost management. First, Nestle redesigned part of the process. Its scientists developed a new generation of Robusta and Arabica coffee plants for Mexico. The Robusta beans are relatively inexpensive and make up the bulk of the beans in instant coffee. The Arabica beans are more expensive, harder to grow and go to the higher end coffees. Today, Nestle has planted 100 thousand coffee trees in Mexico using its newly designed coffee trees. Once this experiment is complete, the company plans to distribute 220 million plants to coffee growers world-wide over the next ten years. The use of these new plants will enable Nestle to reduce its rate of cost for the beans it buys. The new plant design increases yields so it eliminates some inputs that do not produce the output of coffee beans. Many long-term coffee farmers are using older trees, which yield fewer beans and lower quality beans. Many of these farmers are leaving the industry since they cannot compete. This magnifies the commodity price problem Nestle faces. Nestle’s new trees fit the region’s climate. They resist disease and allow for larger and easier harvests. These trees will make coffee beans more consistently and predictably available. Nestle will give these trees to the farmers without asking for a firm long-term contract or ownership of any part of the farm. But it should be obvious that Nestle will engender a great deal of farmer loyalty with this program. Nestle also expects to reduce the rate of cost it pays for its beans with two other cost reduction initiatives. It will offer farming and investing advice to up to ten thousand farmers world-wide. As these farmers become more efficient, Nestle’s costs will drop. In addition, Nestle will also increase the amount of coffee it buys directly from the nearly 170 thousand growers who produce its coffees. This kind of foresight and innovation suggests why Nestle commands its market leadership. Full Article business skills competitor success and failure cost reduction Nestle productivity productivity improvement
cost reduction Malabar Gold achieves 50% cost reduction from automation as gold prices go through the roof By www.thehindubusinessline.com Published On :: Tue, 21 May 2024 14:00:10 +0530 The high prices may detract price-sensitive customers away, but he pins his hopes on the digital-savvy new generation to invest more in the gold Full Article Gold & Silver
cost reduction Airport Energy Efficiency and Cost Reduction By www.trb.org Published On :: Tue, 07 Sep 2010 04:05:49 GMT TRB’s Airport Cooperative Research Program (ACRP) Synthesis 21: Airport Energy Efficiency and Cost Reduction explores energy efficiency improvements being implemented at airports across the country that are low cost and short payback. Full Article http://www.trb.org/Resource.ashx?sn=acrp_syn_21cover
cost reduction Lessons learned in transit efficiencies, revenue generation and cost reduction By digital.lib.usf.edu Published On :: Tue, 18 Feb 2014 11:39:37 -0400 Full Article
cost reduction Lessons learned in transit efficiencies, revenue generation and cost reduction By digital.lib.usf.edu Published On :: Tue, 18 Feb 2014 11:46:12 -0400 Full Article
