Master limited partnership listed on the New York Stock Exchange that owns and runs midstream assets and whose objective is to build long-term value for their unit holders by generating increasing cash distributions via organic expansion, development projects, and acquisitions.
Business Need
At-A-Glance
The drop in commodity prices was affecting our client’s bottom line and they had to quickly cut millions in costs to remain competitive.
Impactful
Realized Results
Our specialists delivered more than 170% of the initial $10 million savings objective for current year cost reductions and about 190% of the overall cost reduction targets desired.
60 DAY COST REDUCTION GOAL
$ 10 MM
IMMEDIATE COST SAVINGS DELIVERED
170%
OVERALL COST REDUCTION
190%
Learn More
Read on for more information on how we successfully delivered a positive outcome for our client.
The Challenge
The fall in the price of commodities had a direct impact on our client’s bottom line, and as a result, they needed to find ways to quickly reduce their costs in order to remain competitive.
Our client wanted a decrease in costs of $10 million during the first 60 days of engagement, and another $10 million reduction in costs on a run rate basis over the next 90 days.
The Solution
We utilized a multi-disciplined approach that capitalized on cross-functional knowledge of technology, business operations, supply chain, internal controls, and financial reporting.
Our specialists designed a program that first adjusted fixed costs, then adjusted third-party expenditures, and finally deployed a flash report system for cost control to guarantee that the desired outcomes were achieved.
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