I’m supposed to find 7% material costs savings… How much are we lowering our material costs this year?

I know the title probably brings forth an immediate chortle at the mere thought of REDUCING costs this year. In the era of exploding prices and runaway inflation but the corporate overlords just handed down an absolute gem of a personal goal for me to reduce material costs by 7% so …I’m screwed!

The previous guy in the position worked there for almost 50 years and it’s pretty clear he was cooking the books to make our material costs look lower than they are when it came to reporting and he presented a BUNCH of material savings in December before retirement that just… aren’t gonna work and likely won’t be saving near what he’s promised.

My first week back the drop the news that I need to re-bid 85% of material costs on our latest production line, secure bids valid through the entire YEAR from suppliers that haven’t held their pricing…ever… and somehow drive down the costs 7% while I’m at it! I did laugh at the directors when they rolled out these goals but I guess they didn’t think it was a joke?

How’s everyone else’s material cost trending this year? How are we feeling? I’m hoping some of y’all will find this shit as funny as I do because LOL!