How is Cost Reduction used?
Zippia reviewed thousands of resumes to understand how cost reduction is used in different jobs. Explore the list of common job responsibilities related to cost reduction below:
- Managed contract negotiations involving corporate purchase agreements, replenishment programs, and cost reduction activities.
- Performed supplier visits and surveillance to ensure quality standards and initiated cost reduction opportunities.
- Project Manager for Consumer Market Generator Set Cost Reduction Initiative.
- Initiated Supplier Cost Reduction Programs through vigorous contract negotiations.
- Project manager for numerous logistics cost reduction initiatives.
- Led cost down negotiation effort on 4 key enclosure parts achieving $67M of annualized cost reduction prior to launch.
Are Cost Reduction skills in demand?
Yes, cost reduction skills are in demand today. Currently, 10,200 job openings list cost reduction skills as a requirement. The job descriptions that most frequently include cost reduction skills are global supply manager, procurement engineer, and manufacturing technology manager.
How hard is it to learn Cost Reduction?
Based on the average complexity level of the jobs that use cost reduction the most: global supply manager, procurement engineer, and manufacturing technology manager. The complexity level of these jobs is challenging.
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What jobs can you get with Cost Reduction skills?
You can get a job as a global supply manager, procurement engineer, and manufacturing technology manager with cost reduction skills. After analyzing resumes and job postings, we identified these as the most common job titles for candidates with cost reduction skills.
Global Supply Manager
Job description:
A Global Supply Manager is responsible for supervising production supplies' adequacy to meet distribution requirements according to the supply chain processes. Global Supply Managers coordinate with senior management to improve sourcing strategies and adhere to customer demands. They also conduct data and statistical analysis and evaluate the current market trends to identify business opportunities to generate more revenue resources for the business. A Global Supply Chain Manager must have excellent leadership and analytical skills, especially in developing cost-reduction techniques without compromising high-quality deliverables.
- Supply Chain
- Cost Reduction
- Supplier Relationships
- Strategic Sourcing
- NDA
- Delivery Performance
Procurement Engineer
Job description:
Procurement engineers are professionals who are responsible for procuring technical goods and services that are used in the industrial operation of an organization. These engineers must evaluate all new and existing suppliers and negotiate purchase agreements to ensure that the purchased goods and services are delivered as promised. They must ensure that all the machines and equipment are following the quality and performance standards of the facility. Procurement engineers must also choose appropriate suppliers by analyzing and comparing their products and prices.
- Project Management
- Cost Reduction
- Supplier Quality
- Supplier Selection
- Logistics
- Strategic Sourcing
Manufacturing Technology Manager
- Lean Manufacturing
- GMP
- Capital Projects
- Prototype
- Cost Reduction
- Product Development
Strategic Buyer
Job description:
A strategic buyer defines detailed plans and objectives for each project as per the organization and business unit purchasing strategies. Besides undertaking benchmarking and updating activity and project progress, strategic buyers also control the supply chain actions and supply chain risks to keep the supply chain secure. Also, these professionals negotiate favorable, effective, and precise terms and conditions as per the rules. Moreover, strategic buyers control the projects' risks and create an effective action plan to achieve all project objectives.
- Supply Chain
- Purchase Orders
- Strategic Sourcing
- Supplier Performance
- Cost Reduction
- Continuous Improvement
Extrusion Supervisor
- Extrusion
- Safety Procedures
- Lean Manufacturing
- Direct Reports
- Cost Reduction
- SPC
Supply Chain Vice President
Job description:
The supply chain vice president is responsible for directing and planning all aspects of an organization's supply chain initiatives, policies, and objectives. You will oversee the inventory, distribution, and transportation activities of an organization. In addition, you will be responsible for directing and overseeing the supply chain management team in order to optimize several manufacturing locations and distribution centers. Other duties include overseeing the development of the supply chain budget, reviewing the operating performance with quality, cost, and service metrics, and collaborating with quality, customer service, and sales departments to maintain the consistency of supply and demand objectives.
- Supply Chain
- Chain Operations
- Chain Management
- Continuous Improvement
- Cost Reduction
- Strategic Sourcing
Global Supply Chain Director
Job description:
A global supply chain director is responsible for directing the overall supply chain of an organization. Their job responsibilities involve leading the team that is in charge of relations to clients, placement of orders, inventory management, storage and transportation of goods, supplier management, and quality assurance. They may also be expected to spearhead the total execution of all supply chain and operations, field operations, logistics, and strategy.
- Supply Chain
- Continuous Improvement
- KPIs
- Cost Reduction
- Materials Management
- Supply Chain Planning
How much can you earn with Cost Reduction skills?
You can earn up to $108,232 a year with cost reduction skills if you become a global supply manager, the highest-paying job that requires cost reduction skills. Procurement engineers can earn the second-highest salary among jobs that use Python, $75,682 a year.
Job Title  | Average Salary | Hourly Rate |
|---|---|---|
| Global Supply Manager | $108,232 | $52 |
| Procurement Engineer | $75,682 | $36 |
| Manufacturing Technology Manager | $123,011 | $59 |
| Strategic Buyer | $74,725 | $36 |
| Extrusion Supervisor | $66,584 | $32 |
Companies using Cost Reduction in 2025
The top companies that look for employees with cost reduction skills are Ernst & Young, Intel, and Deloitte. In the millions of job postings we reviewed, these companies mention cost reduction skills most frequently.
| Rank | Company | % Of All Skills | Job Openings |
|---|---|---|---|
| 1 | Ernst & Young | 15% | 11,975 |
| 2 | Intel | 14% | 1,041 |
| 3 | Deloitte | 8% | 18,988 |
| 4 | Marriott International | 7% | 8,063 |
| 5 | Raytheon Technologies | 7% | 54 |
Departments using Cost Reduction
| Department | Average Salary |
|---|---|
| Supply Chain | $70,428 |
2 courses for Cost Reduction skills
1. Cost Reduction: Cut Costs and Maximise Profits
Cost Reduction: Cut Costs and Maximise ProfitsCost Reduction - identify costs in your business that can be cut without negatively affecting your quality or customers. Maximise profits and motivate your workforce. Would you like to double your profits? To do that could you sell twice as much, or manufacture twice as much? Could your company grow to twice the size it is now within the same market? Well guess what - you don't need to! By cutting your costs by just a small amount you could double your profits without needing a single new customer and without making a single extra product. You won't need to hire more people, enter new markets, or get a new premises - just focus on being more effective with what you already have. Cost Reduction training can make all of your business goals come true, and it could easily double your profits… or 5x it in the experience of some of my clients! In this course you'll learn practical techniques to identify wasted money in your company, detailed tips for analysing the effectiveness of your biggest costs, understand why you should increase your prices or reduce your quality, learn which of your customers are actually costing you money, and dealing with common problems of management and motivation. After this course your company will be lean, have highly profitable customers, and every part of the supply chain will contribute more effectively. In fact - you'll most likely be dealing with the most profit you've ever known! We look at lots of real life cost reduction examples (some of which will definitely get you laughing) and give you practical tools you can use right away to get better results in your organisation. Whether you're a small family business or a huge multinational this course will build essential skills for your long term growth and short term effectiveness. In my opinion Cost Reduction is one of the most powerful and underestimated leadership and project management areas. Most companies focus entirely on selling and forget that there are millions of dollars left on the factors floor through inefficiencies and misunderstandings. So, I have created a step by step course you can use to analyse your business and cut out all the waste. Rest assured - you need not make your employees or customers unhappy using these techniques… in fact most likely both will end up better off. Imagine if you only needed to work with your favourite customers, all your employees were highly motivated, and you could produce twice as much product at the same quality level? This course achieves that with simple, tried and tested ideas that have been working for decades. Chris Croft is an international speaker, and widely published author, who's been teaching Cost Reduction to companies for over 20 years. He's taught all over the world, as well as online, and has an entertaining and practical teaching style. This course is guaranteed to keep you engaged and amused, and teach you life changing skills for home and work. The course overview includes: How to identify your most profitable customers, and which are costing you moneyShould you reduce or increase your quality?Motivate your employees to go over and aboveHighlight missed opportunities to save thousandsUnderstand why a few costs make up most of your expenditureIdentify why a simple printer could be the most expensive item in your company And as always it's 100% practical, and with no technical jargon. And lots lots more! By becoming great at Cost Reduction, not only will you benefit from happier and easier customers, you'll also have made your company thousands in new savings and healthier margins! This course comes with a 30 day money back guarantee...
2. Cost Reduction for Managers & Management Consultants
What is the aim of this course?Every company has to control costs in order to survive and prosper. Therefore, many firms on regular basis perform cost reduction projects. Cost reduction projects may be part of a wider Performance Improvement Project or be a standalone project carried out only in one of the business units. Those projects are extremely interesting because you will be able to make a real change, create a new reality and improve part of the business or even the whole business. There are also very difficult as you have to not only analyze areas but also find ways to cut costs, improve the current situation as well as, on some occasions, implement the change. The skills that you will learn during this sort of project will be also very useful once you move to work for regular businesses or set up your own firm. In this course, I will show you how to deliver such projects fast and efficiently. In the course you will learn the following things: How to identify potential savings, especially quick winsHow to optimize processesHow to analyze investmentsHow to carry out make-or-buy analysisHow to spend lessThis course is based on my 15 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, performance improvement, and turn-arounds in the biggest firms from Retail, FMCG, SMG, B2B, and services sectors that I worked for. I have carried out or supervised over 90 different performance improvement projects in different industries that generated a total of 2 billion in additional EBITDA. On the basis of what you will find in this course, I have trained in person over 100 consultants, business analysts, and managers who now are Partners in PE and VC funds, Investment Directors and Business Analysts in PE and VC, Operational Directors, COO, CRO, CEO, Directors in Consulting Companies, Board Members, etc. On top of that my courses on Udemy were already taken by more than 181 000 students including people working in EY, McKinsey, Walmart, Booz Allen Hamilton, Adidas, Naspers, Alvarez & Marsal, PwC, Dell, Walgreens, Orange, and many others. I teach through case studies, so you will have a lot of lectures showing examples of analyses, and tools that we use. To every lecture, you will find attached (in additional resources) the Excels as well as additional presentations, and materials shown in the lectures so as a part of this course you will also get a library of ready-made analyses that can, with certain modifications, be applied by you or your team in your work. Why have I decided to create this course?As a manager quite often you will have to find ways to spend less and reduce costs. This is not an easy task as you will have to increase efficiency and quality at the same time. Luckily, there are a lot of techniques that will help you in a structured way look for savings that will help you improve the profits of your business. In this course, I will teach you how to find potential savings, estimate them in Excel, and how make sure that they don't impact quality or efficiency. We will use that management consulting tools, techniques, and frameworks from top management consulting firms. This course will help you become an expert in the field of cost-cutting, and cost reduction which will be extremely useful not only in consulting but also later on when you become a director or you move on to build your own business. By giving you exposure to real-life cases and analyses I want to improve your skills in analyzing the right things fast and implementing the improvements that you have identified. Thanks to this course, you will know what and how to do during cost-cutting projects to deliver ahead of deadlines high-quality products. To sum it up, the course will help you become an expert in cost reduction, and cost-cutting on the level of McKinsey, BCG, Bain, PwC, Deloitte, EY, and other top consulting firms. That is why, I highly recommend this course to Managers, Management Consultants as well as Investment Directors working for PE, Directors, and owners/founders of businesses that need better to improve their profitability and prepare for scaling. In what way will you benefit from this course?The course is a practical, step-by-step guide loaded with tons of analyses, tricks, and hints that will significantly improve the speed with which you understand, and analyze the business considered for acquisition. There is little theory - mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. Our intention is that thanks to the course you will learn: How to identify potential savings, especially quick winsHow to optimize processesHow to analyze investmentsHow to carry out make-or-buy analysisHow to spend lessYou can also ask me any question either through the discussion field or by messaging me directly. How the course is organized?The course is divided into the following sections: Introduction. We begin with a little intro to the course as well as some general info on how the course is organizedCost reduction frameworks. In the second section, I will show you the main frameworks that will help you with cost reduction. We will have a look at the general framework. I will also show you the adjustments for FMCG and retail. Frameworks are great because they help you see the big picture. They also provide you with guidance on what to do to achieve your goalsQuick wins. In this section, I will show you how to identify the so-called quick wins - in other words, big savings that you can easily achieve, and implement. We will start with 2 general frameworks (80/20 and low-hanging fruits) and I will show you how we can apply them to find the projects that will generate big savings. Process optimization in practice - Retail chain example. In the 4th section, I show you how to reduce the cost of the process in practice. For that, I will use an example of processes in a store. You will see how you should calculate the cost of the processes and what techniques you should apply to optimize processes and achieve cost reduction, and savings. Make-or-buy analysis. In the 5th section, we will discuss the Make-or-buy analysis. You will be carrying them out after you have implemented the quick wins. They will help you find ways to further reduce costs. Make-or-buy analysis is an extremely important tool that will help you decide in a rational way what you should do in-house and what to buyInvestment analyses. A lot of money can be saved by a proper investment policy. In this section, I will show you how to analyze in practice investments aiming at reducing costsReduce usage. In this section, I will show you how you can cut costs by reducing the usage of certain things that your firm is usingSpend less. In the last section, I will show you how to reduce your own private spending and expenditures. These examples will help you understand and implement the general approach to cost-cutting. It will also help you reduce your own personal wealthYou will be able also to download many additional resourcesUseful frameworks and techniquesList of resources useful during performance improvement projectsSelected analyses shown in the courseLinks to additional presentations, articles, and moviesLinks to books worth readingAt the end of my course, students will be able to…How to conduct Cost Reduction ProjectsApply the right frameworks and techniques from your management consulting toolboxIdentify quick wins when it comes to savingsAnalyze investments in ExcelConduct make-or-buy analysis in practiceAnalyze in Excel potential improvements in Retail, and FMCG on the level of McKinsey, BCG, BainManage efficiently a consulting project devoted to performance improvementFind ways to cut the cost of the business you manageWho should take this course? Who should not?Managers who want to increase the profitability of their businessManagers who want to reduce costsOwners of small and mid-sized businessesManagement Consultants and Business AnalystsInvestment DirectorsFinancial ControllersWhat will students need to know or do before starting this course?Basic or intermediate ExcelBasic knowledge of economics or finance...