The more simplistic and arguably more tailored approach is to take the top 3-5 largest cost buckets of the business and think about how you can reduce the unit cost and/or volume. For example, fuel cost is a major cost item for an airline. Firstly, volume (i.e., consumption) can be reduced through better fuel efficiency programmes (e.g., pilots trying to fly more fuel efficiently, more fuel efficient aircraft, etc.). On the other hand, although limited, you can reduce unit cost by negotiating/changing suppliers or hedging.
Another segmentation I would think about to be expansive in your idea generation is to think about both direct and indirect costs to the business of which there is a sub-segment of procured costs which is you can think about from a supply-driven commercial (e.g., negotiating with suppliers) as well as demand-driven technical (e.g., changing the specifications) and process (e.g., procurement process) levers.
The more simplistic and arguably more tailored approach is to take the top 3-5 largest cost buckets of the business and think about how you can reduce the unit cost and/or volume. For example, fuel cost is a major cost item for an airline. Firstly, volume (i.e., consumption) can be reduced through better fuel efficiency programmes (e.g., pilots trying to fly more fuel efficiently, more fuel efficient aircraft, etc.). On the other hand, although limited, you can reduce unit cost by negotiating/changing suppliers or hedging.
Another segmentation I would think about to be expansive in your idea generation is to think about both direct and indirect costs to the business of which there is a sub-segment of procured costs which is you can think about from a supply-driven commercial (e.g., negotiating with suppliers) as well as demand-driven technical (e.g., changing the specifications) and process (e.g., procurement process) levers.