Great profit improvements for Finnveden

Expense Reduction Analysts Success Stories

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Table of Savings

Category Saving(%) Saving(£)Office Supplies 30% £1,957Packaging – Labels 51% £21,632Packaging – Cartons 19% £10,604Packaging – Pallets 9% £2,257Packaging – Bags 7% £1,312Packaging – Sundries 12% £1,620Gas 19% £2,725Electricity 28% £3,415Total Savings £45,522

Re-visited Saving(%) Saving(£)Packaging – Labels 39% £9,537

Finnveden is an internationalengineering group which specialises in the supply of fasteners to theEuropean automotive industry andemploys 1800 people within productionunits across Europe and China. TheFinnveden Bulten operation in the UK is a Full Service Provider (FSP) to bothFord and Nissan with an extensiverange of metallic fasteners for use in chassis and engine manufacture.

The automotive sector’s demand for year on year cost reduction from their suppliersplaces huge challenges on componentsupply companies to sustain profitability to invest in future product development.

Richard Dixon, Financial Director, explains:“We believe that all business costs should be challenged on a regular basis and wewere therefore keen to investigate our costbase in more detail however as a smallcompany we do not have the resources toemploy rigorous cost analysis of our ownspending patterns more than once a year.We felt that by engaging Expense ReductionAnalysts we could access a unique wealth

“We know that for each projectExpense Reduction Analysts havean expert in that particular fieldand this re-assured us that theywould not sacrifice service levelsin our search for better pricing.”Richard Dixon

£144,268

of knowledge and market expertise toenable us to identify profit leaks and profitimprovement opportunities within ouroverhead expenditure and utilise ExpenseReduction Analyst’s unrivalled buyinginfluence to secure improved prices andservice levels.”

“We are extremely satisfied with both the process followed and the resultsachieved by Expense Reduction Analysts.Neill Summerfield, the Expense ReductionAnalyst Client Manager, kept us informed ofthe progress of each project at every stageand made the benchmarking, tendering,recommendation and implementationphases completely transparent.”

Expense Reduction Analysts alwaysdemonstrates a thorough understanding of our needs checking at several stages of the process to ensure that they havecaptured our requirements in detail andthat any solution proposed by ExpenseReduction Analysts will meet with ouracceptance.

Expense Reduction Analysts specialists havecurrent industry knowledge at their fingertipsand an aggregated buying influence greaterthan any individual business.