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Cost management is one of the top priorities

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that operations leaders have as they get ready for 2024.

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But cost is not a new topic or goal

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when it comes to operations transformations.

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It's long been central, but it's coming back.

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That said, there are a few things

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that are different this time.

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The first is that companies have worked really hard

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to attract and retain workers for a few years.

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And usually headcount reduction

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is a key part of cost transformations.

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So that presents a dilemma for operations leaders.

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That means that digitization and automation of work,

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making that work more efficient,

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are going to be central to cost reduction efforts.

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Therefore companies need to get a better

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and more consistent return on their digital investments

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than they have for the past few years.

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And then, finally, people have been talking

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about supply chain resilience,

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and now they're talking about cost.

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And that means that operations leaders

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are wondering: do they need to abandon those investments

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and resilience that they've made

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or can they pursue them in a more cost-efficient manner?

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(upbeat music)