Cost Saving Opportunities for Yummy Gum PPT

This PPT slide, part of the 48-slide Relative Cost Position Analysis PowerPoint presentation, outlines a detailed analysis of potential cost savings for Yummy Gum, focusing on key areas that can significantly impact overall expenses. It categorizes the cost drivers into 2 main sections: Raw Materials and Direct Labor.

Under Raw Materials, 2 primary drivers are identified: Price and Amount Used. The cost-saving levers associated with Price include strategies like scale purchasing, which can leverage bulk buying to reduce costs, and negotiation with suppliers to secure better terms. Quality of ingredients is also highlighted, suggesting that while cheaper options may exist, the impact on product quality must be considered. The Amount Used section emphasizes the importance of the mix of ingredients and the total quantity utilized per 100 sticks, indicating that optimizing these factors can lead to substantial savings.

The Direct Labor section is further divided into Wage Rates and Staffing. Wage Rates are influenced by factors such as union versus non-union labor, location, and benefits rates. These elements can greatly affect labor costs, making it crucial to analyze them closely. The Staffing category discusses the complexity and technology of machines, the number of machines, and machine speed, all of which can influence labor efficiency and costs.

This slide serves as a strategic tool for decision-makers looking to identify and implement cost-saving measures. By focusing on these specific areas, Yummy Gum can enhance its operational efficiency and improve its financial performance.

This slide is part of the Relative Cost Position Analysis PowerPoint presentation.

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