Tony Hamer is What Prescott Needs!

Tony’s 10-Point Cost Reduction Plan

The City of Prescott has approved the 2024 budget.
Operating costs will increase by 15.2% due to inflation
which will lead to an increase in taxes on Prescott residents.
Read through the my plan and let me know if you have questions.

#1 - Cost Analysis and Benchmarking

We should conduct a thorough analysis of our city business’s cost structure, including fixed and variable costs. We can then, compare our costs to city benchmarks and identify areas where we may be over-spending or underperforming. This analysis will serve as a foundation for identifying potential cost-saving opportunities.

#2 - Process Optimization

A review of our operational processes and workflows should be conducted to identify areas of inefficiency or waste. We should look for ways to streamline processes, eliminate unnecessary steps, and improve productivity. This can include implementing lean management principles, automating tasks, or reorganizing work teams to enhance efficiency.

#3 - Supplier and Vendor Management

We must evaluate our relationships with suppliers and vendors. In many cases, we should negotiate better pricing, discounts, or volume-based incentives. Explore alternative suppliers or renegotiate contracts to achieve cost savings without compromising on quality. We should insist that suppliers provide us with solutions based on the Best Available Technology. Contracts should also be considered on full life cycle cost and not solely low-cost providers.

#4 - Resource Allocation

An analysis of our resource allocation practices to ensure optimal utilization should be conducted. This will Identify areas where resources may be underutilized or overallocated. This may involve reallocating staff, equipment, or other resources to match demand and reduce unnecessary costs.

#5 - Technology Utilization

We must leverage technology to streamline operations, reduce manual effort, and improve productivity. We must identify areas where technology solutions can replace manual processes or improve efficiency, such as implementing project management software, customer relationship management (CRM) systems, or automated billing and invoicing systems. This is a crucial area to target for cost reductions.

#6 - Training and Skill Development

Investigate investing in training programs to enhance the skills and capabilities of our employees. A well-trained workforce will perform tasks more efficiently, reduce errors, and improve customer satisfaction, ultimately leading to cost savings and improved service quality. What is our training program for employees – assess its current impact and recommend improvements.

#7 - Waste Reduction and Sustainability

We must implement measures to reduce waste, promote recycling, and conserve resources. This can include initiatives like energy-efficient practices, paperless processes, and responsible waste management. Reducing waste not only helps our environment but can also result in cost savings over time.

#8 - Performance Tracking and Measurement

As in the Fire Department plans, we must establish key performance indicators (KPIs) This means regular monitoring and metrics to track our progress in cost improvement. Regularly monitor and analyze these metrics to identify areas for further improvement and track the effectiveness of cost-saving initiatives.

#9 - Employee Involvement and Suggestion Programs

We must encourage employees to participate in cost-saving initiatives by soliciting their ideas and suggestions. Implement suggestion programs and/or provide incentives for employees who contribute innovative ideas that lead to cost reductions or process improvements.

#10 - Continuous Improvement Culture

We very much need to foster a culture of continuous improvement throughout the organization. We must encourage all employees to be actively involved in seeking out cost-saving opportunities and process enhancements. As a Council, we must regularly communicate the importance of cost control and recognize and reward employees for their contributions to cost improvement.

Forward-thinking Strategy

A Clear Vision

Prioritize Budgets

Vibrant Community