Turn Time Into Money: Faster Growth Through Digital Reuse

Today’s technologically savvy firms have created an internal digital reuse culture that significantly reduces time-to-market without any extra costs. However, reuse remains an underutilized strategy in most companies because it requires a high level of organization, discipline and enterprise-wide exchange. This article explores how you can overcome these challenges by cultivating the three C’s: commitment, capabilities and communication.

During the recent global financial crisis, the Lubricants division of CEPSA, Spain’s second largest oil company, realized that it needed to change, and change fast. The division sells lubricants for industrial production in 55 gallon barrels. The one size dominated the company’s sales, yet in the face of the crisis, customers were asking for the product in various smaller sizes that the company did not support. The Lubricants Division could change its packaging line to support smaller sizes, but its systems were geared toward selling the product in a single size.

Reorienting the production line and systems was time critical as customers’ needs were changing rapidly. Leaders considered adding features to their system or installing new systems. That would take months – about the same amount of time it would take customers to switch to other suppliers. The Lubricants division found an answer in weeks, by reusing systems deployed by its sister retailing division. Was the solution perfect? No. Did it provide a solution that Lubricants needed now? Absolutely. Reusing existing digital assets was significantly faster than other alternatives and CEPSA was able to neutralize a rapidly emerging business threat.

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