Cost Reduction Strategies Archives

Category: Cost Reduction Strategies

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Insurance Brokerage: Standardization Enables Valuable Sales Automation and Reduces Administrative Burden

Sales and Operations The recently-hired COO of a large, successful, third-generation, family-controlled insurance brokerage struggled with a range of frustrating challenges. The traditional, “sales-driven” culture typical of almost all comparable brokerages was based heavily on personal, face-to-face relationships. Lots of businesses rely on this model for sales; however, this culture also pervaded senior management’s views …

By The Lab Consulting Cost Reduction Cost Reduction Strategies Digitization Knowledge Work Industrialization Knowledge Work Standardization Thought Leadership Operational Efficiency Process Improvement Standardization Supply Chain Operations June 2, 2022

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Oil & Gas, Corporate Services: Facilities Management Standardization and Automation

Executives at the global energy provider were upbeat when they authorized a new, state-of-the-art corporate campus in the U.S. Over the course of construction, volatile oil prices periodically gave them mild cases of buyer’s remorse. More importantly, the unstable energy markets prompted them to review every aspect of Corporate Services. The objective was twofold: • …

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Life Insurance Carrier: Process Standardization and Automation Rapidly Boost Employee Productivity and Policyholder Experience

Policy Administration A leader in life insurance products for direct-marketing channels in the U.S. struggled to recruit and retain customer service reps (CSRs) for its contact-center operations. And the implications were more serious than simply long, frustrating wait times for callers. That’s because nearly half of all inbound calls involved intense efforts by CSRs to …

By The Lab Consulting Cost Reduction Cost Reduction Strategies Digitization Knowledge Work Industrialization Knowledge Work Standardization Thought Leadership Process Improvement Standardization Supply Chain Operations May 25, 2022

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Customer Service Returned Goods & Warranty – Medical Devices

Lean Customer Service Process Transformation for Medical Devices For years, the product-return volumes for this company’s medical devices grew predictably and proportionately with sales by region. Managing returns and related compliance was relatively simple for each region and product line. But over the course of several years, the unpredictability of these returns soared—and was still …

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