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At a Glance Leaders of cost productivity appear in every industry, improving their cost structure year after year. Firms with consistent cost productivity realize higher total shareholder return, and this applies in good times and bad. These cost productivity champions know when to go “best in cost” and when to go “best in class.” They set explicit targets and incentives.
Executives are feeling the pain. In a recent Bain & Company executive survey, more than half of the respondents told us that cost pressures constrain their ability to make strategic investments (see Figure 1). That is a big issue for nearly all companies, given that procured costs represent between 25 percent and 60 percent of a company’s total costs, depending on the industry. We frequently find that procurement does not get a commensurate level of organizational investment.
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