For over 70 years, Samsung has been active in diverse businesses that today span advanced technology, semiconductors, skyscraper and plant construction, petrochemicals, fashion, medicine, finance, hotels, and more. The flagship company, Samsung Electronics, leads the global market in high-tech electronics manufacturing and digital media.
In order to receive specific additional expertise on different expense categories, the Samsung Benelux subsidiary has retained Expense Reduction Analysts to implement a variety of cost reduction projects in the Netherlands and Belgium.
Even with a strong (and very successful) focus on business growth, Samsung finance management felt the need to increase spend visibility and increase the purchasing value of indirect expenses.
In close cooperation with the various responsible Samsung managers, new quality specifications and process requirements were defined, before launching a deep market study.
The project with Samsung resulted in sustainable double digit savings. “The clear commitment of Samsung management allowed for a smooth process and constructive cooperation” says Peter de Heer, Expense Reduction Analysts partner and project manager. “Planning of savings without follow-up monitoring is useless. Expense Reduction Analysts showed active ownership and ensured that the full saving potential was realized after implementation” concludes Finance Director Lourens Schouwink.
"The Expense Reduction Analysts team provided us with specific expertise and additional time, enabling us to achieve cost reductions that were beyond our reach."
Lourens Schouwink, Finance Director Samsung Benelux