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.
The drop in commodity prices was affecting our client’s bottom line and they had to quickly cut millions in costs to remain competitive.
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.
Read on for more information on how we successfully delivered a positive outcome for our client.
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.
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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