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Recharging One of the UK’s Largest Electric Vehicle Businesses
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June 27, 2024
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Following a nine-year period of revenue growth with no profit at one of the UK’s largest electric vehicle (“EV”) businesses, FTI Consulting was engaged to perform a rapid cost reduction diagnostic, management capability assessment and develop transformation planning.
Our Impact
- FTI Consulting identified opportunities for 20% cost reduction across operations, organisation and vendor spend, with a path to profitability defined.
- The team identified key operational issues, including major weakness in management and processes capability, and provided subsequent recommendations for transforming the business.
- Our professionals’ assessment of management competencies and detailed organisation rationalisation created positive, long-term change plan for more than 600 staff.
Our Role
- FTI Consulting identified critical cost reduction opportunities, providing phasing and plans to ensure implementation would be successful.
- Our experts ran multiple efficiency assessments and provided key recommendations, uncovering issues previously unbeknown to management, including operational processes, technology and systems spend, technology delivery processes, as well as the business’s approach to implementing new enterprise resource planning (“ERP”).
- We reviewed key capabilities, including marketing, strategic sourcing, alternative vendor bases, and improvements to existing vendors, along with procurement cost downs.
Published
June 27, 2024