Van Buren Township-based Ricardo Inc., a subsidary of the English automotive technology provider, said Tuesday that its Integrated Cost Reduction process offered to clients has hit the $100 million cost savings mark since its 2005 introduction.
Ricardo says ICR offers an intensive focus on a combination of commercial, design, manufacturing, supply chain and warranty savings initiatives.
The company said its integrated approach to cost reduction overcomes the limitations associated with a more traditional functional view of cost reduction. A key success factor is the unique combination of capabilities Ricardo brings to bear on its cost reduction projects, as the company’s ICR consulting teams consist of sourcing, technical and manufacturing experts that help to offset the resource or capability bottlenecks that clients so often face.
In its most recent ICR project, an audited total of in excess of $35 million in savings has been realized for a global automaker in a project carried out in four successive waves of effort over a three year period.
Said Ricardo Strategic Consulting North America president Andy Chien: “Integrated Cost Reduction has been one of the cornerstones of our operational improvement service offering in the North American market as well as globally. It’s been widely successful because unlike other management consulting firms, we’re able to provide a highly effective and insightful turnkey cost reduction capability for our clients to offset resource and capability shortages that they face.”
With technical centers and offices throughout Europe, the United States and Asia, Ricardo plc provides strategic consulting and engineering expertise ranging from vehicle systems integration, controls and electronics, and hardware and software development, to the latest driveline and transmission systems and gasoline, diesel, hybrid and fuel-cell powertrain technologies. Ricardo’s customers include the world’s major automakers and suppliers as well as manufacturers in the military, commercial, off-highway and clean-energy sectors. The company also serves in advisory roles to governmental and independent agencies.
More at www.ricardo.com.
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