Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – June 23, 2014
There are only three ways an organization can improve profit margins:
  • Increase revenue and maintain costs.
  • Maintain revenue and decrease costs.
  • Increase revenue and decrease costs.
In order for organizations to be able to master the art of maximizing profit margins, they need to know which levers to pull in order to maximize those margins. Pulling these levers means having the right strategy to take advantage of the opportunities. These levers become even more important when you are in industries like retail where margins are very tight to begin with. Mastering margins is not just about cutting costs to increase profit, it’s about knowing which levers to pull, what strategies to implement, and when to pull the lever.
 
Mastering profit margins is like operating a crane. If you pull the right lever at the right time, you are able to lift a huge piece of equipment or material with ease. You use leverage. Mastering margins is the same. You use a small amount of effort effectively and you are able to raise margins dramatically.
 
Here are the key levers that organizations can pull to master their margins:
  • Pricing and payment terms
  • Procurement and managing suppliers
  • Cost of goods sold
  • Supply chain optimization
  • Customer growth and retention
  • Employee engagement and empowerment
  • Brand recognition
  • Operational excellence
  • Innovating and collaborating
To be a successful and profitable company, you need to know which levers to pull and when. And often you may be pulling multiple levers at the same time.
 
Which levers can you pull to maximize your profit margins?
 
 
My book, Redefining Operational Excellence, is now available. Click here to order your copy.
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.


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