Steve Mead is a cost management consultant for Auditel, the UK’s pioneer of Strategic Cost Management. His most recent role was Marketing and Product Manager for Zoetis (formerly Pfizer), a market-leading company in the development and manufacture of animal medicines. Zoetis, established for over 60 years, operate in more than 120 countries with annual sales of $4.8 billion. Steve was responsible for the profitable development, marketing and sales of Ruminant Parasiticide products and services within the UK, involving B2B and consumer-facing commercial activity.
Cost management has come a long way since the dark days of short-term cost-cutting which sometimes left organisations in a worse state than they had been before. As contracts for those cheap introductory offers came up for renewal, clients often found themselves locked in as prices shot up.
Auditel initiated some independent research with leading business publication Management Today. This research highlighted Auditel’s expertise in Strategic Cost Management and their early recognition of the general lack of understanding in the business world of the difference between simple cost cutting and strategic cost management.
To ensure that costs are monitored on a regular basis, you need the right people, tools, knowledge and processes. Auditel became the pioneers of a brand called Total Cost of Purchase®. This is now widely recognised as the most effective method of managing costs holistically and reducing waste, to create sustainable profit improvement.
Steve says: “Over the years, I have worked for a number of medium to large companies, including Sainsbury, Wickes, Bayer and Pfizer, across a range of commercially focused disciplines. I understand the formidable challenges that modern management brings – increasing competition, constant pressure on margins and the need for permanent multitasking. I now want to use this experience gained from working for these corporations to help other businesses increase their profitability in a sustainable way and ultimately help these businesses succeed.
“Time is indeed a precious resource and it’s possible that critical areas of your businesses costs are not being given the appropriate management time that they deserve. It’s not just the figure on your bill at the end of every month, but also the value and suitability of the products and services you are buying and the hidden, indirect costs of managing your overheads.
“When you appoint an Auditel specialist, through that contact, you effectively gain access to 180 consultants, with Auditel’s aggregated buying power. On offer is a potent cost management resource capable of managing over 100 business cost areas for large and medium-sized organisations in almost any industry sector.”