SUCCESS STORY
An 8-week diagnostic
Nuclear Medicine Company:
Enterprise-Wide Cost Optimisation Diagnostic
Enterprise-wide cost optimisation
Outcomes
Identified over €40m of cost optimisation benefits
Reducing total spend by up to 11% through the implementation of strategic sourcing, operational excellence, work force optimisation and investment in platforms to optimise ways of working, leading to improved practices and greater wellbeing of patients.
The client benefited from
an improved engagement and empowerment of the leadership teams across the business units to optimise their individual and group costs with the opportunities presented.
The 4C team were invited
to undertake the implementation phase of the cost optimisation strategy.
BACKGROUND
Partnering with a global nuclear medicine company to support the rationalisation and opportunity assessment of delivery cost reductions and better buying platforms.
the challenge
- Targeting a 2025 investor exit, the organisation grew quickly to €750m annual revenue and ~30% EBITDA.
- Previously, little focus on cost management led to decentralized buying and rolling budgets across three business units.
- Tasked with an eight-week diagnostic to identify sustainable savings to offset business inflation in the year-year plan.
SOLUTION
- Partnered with the Leadership team to review cost structure and understand optimisation opportunities.
- Executed an eight-week analysis, assessment, and prioritisation including rigorous internal and external spend benchmarking.
- Undertook spend rationalisation and validated opportunities through stakeholder discussions and data analysis to optimise ways of working.