Best Practices for Managing Costs: Reducing Expenditures and Driving Costs out of the Library Budget: Best Practice Summary

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This 14-page document reviews how companies employ innovative techniques to stretch their financial resources and demonstrate cost effectiveness to management. It includes cost reduction strategies and practices such as identifying and eliminating unnecessary corporate spending, leveraging company relationships to reduce resource costs, eliminating non-strategic activities to re-deploy resources more cost effectively, measuring return on investment, and closely examining site license purchases for cost effectiveness.

Strategies to charge other departments or units for library costs are also included as ways to reduce overhead, eliminate non-valued services, and allow the library to continue to manage the resources. While the report focuses on insights from information professionals within pharmaceutical and medical device companies, the lessons learned and innovative responses to common challenges apply equally well to libraries in other industries. This research originated from Best Practices, LLC's consulting services.

Industries Profiled:
Pharmaceutical; Health Care; Medical Device; Biotech

Companies Profiled:
Abbott Laboratories; Ethicon Endo; AstraZeneca; Philips Medical Systems; Baxter Healthcare; Siemens Medical; Medtronic; Pfizer

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.

Best Practices for Managing Costs: Reducing Expenditures and Driving Costs out of the Library Budget

ID: 4444

Features:

Words: 4,388

Published: Pre-2019

Delivery Format: Online PDF Document

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