CLAIM #48938 · Procter & Gamble Company (PG) · 2023Q3 earnings call · Apr 21, 2023 · due Apr 21, 2025
“We have talked about delivering about $1.5 billion of savings with those initiatives between automation and digital capabilities.”
Andre Schulten · CFO
In context
“ually no catch-up on the marketing piece. No need to accelerate reinvestment per se, but maybe some, again, acceleration on the productivity side. So, I'd be curious to hear about that. Thanks. Andre Schulten: Great. Good morning, Lauren. I think, as you said, we are catching up right now to return to gross savings levels that are equal or close to equal to those that we've delivered pre-COVID. We have more line capacity available for us to qualify cost savings or mind space of our teams to be able to identify new opportunities. And as we are able to engage suppliers and get through this inflationary period, hopefully, more ideation and new projects to be created as well. As we've talked on our Investor Day, we see runway on productivity for the next few years, driven by Supply Chain 3.0. We have talked about delivering about $1.5 billion of savings with those initiatives between automation and digital capabilities. And we continue to believe that we can generate between $400 million to $500 million a year from media, programmatic savings both in terms of scheduling and buying capabilities around the world. Those programs will hold productivity, in my estimation, close to pre-COVID levels, which will allow us to continue to reinvest in media, which will allow us to fund innovation and superiority, and that is really the intent of the model. So, to answer your question directly, I would not expect a disproportionate catch up, but I would expect a steady return to pre-COVID levels of net structure savings, both the cost and media. Jon Moeller: I agree. Operator: The next question comes from Bryan Spillane of Bank of America. Please go ahead. Bryan Spillane: Thanks, operator. Good morning, everyone. I a”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2023Q3 earnings call.