47 Tips for Cutting Costs Without Cutting Staff
Tucker says he is willing to consider suppliers closer to home if the value of convenience and time/cost savings in shipping equals or exceeds the lower manufacturing costs available in Asia.
38. Be flexible.
Smaller publishers should leverage the assets that come with maintaining a leaner, more malleable supply chain, Tucker says, meaning they should always be on the lookout for better deals in printing or shipping, and ready to take advantage of these, especially in a volatile world market. “The difference between how we operate from a [major publishing house] is that, for them to alter the supply chain, I imagine is like trying to turn an aircraft carrier around in a pretty narrow straight. We are more like a small powerboat.”
39. Consider alternate staffing arrangements.
Sideshow has had success with employees working in remote locations and other positions being converted to half-time. These arrangements have led to some cost savings, according to Tucker.
Alex Holzman, director, Temple University Press
Temple University Press specializes in books on the humanities and social sciences. Holzman says university presses are used to operating frugally, but nevertheless can be subject to unexpected budget mandates from their parent institutions. “When cuts have to be made … they aren’t always made wisely,” he notes.
40. When you cut, cut judiciously.
Holzman advises thinking through the impact of any cuts on net revenue, noting that an in-house efficiency that results in declining sales is not a good idea (unless it somehow increases margins). “This probably sounds mundane and obvious, but it’s necessary to at least make an effort to avoid encountering unexpected consequences,” he says.
These consequences can ostensibly be non-monetary, yet affect sales and profits in the long run, he warns. An example would be a cost-cutting measure that damages author relations.