Midas Management Consulting

5 Warning Signs of the `Sucker Punch,` How to make sure your solid waste management program isn’t hitting you where it hurts!

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Courtesy of Midas Management Consulting

Is Your Waste Management Program Dealing You a Sucker Punch?

Companies have been forced to manage hazardous waste because of the cost, regulatory requirement, risk exposure and potential for adverse environmental impacts. This combination of drivers led to less hazardous methods of doing business, i.e. waste reduction, reuse, recycle and better tools to manage hazardous waste. Yet historically, companies have not had a compelling reason to address the management of other categories of waste. And this inattention is costing them money – sometimes significant amounts of money.

Waste minimization projects are usually designed to address acute and hazardous waste, but other categories of waste beyond hazardous affect all companies – ranging from simple trash to complex exempt wastes.

Today's fast moving business climate encompasses rapid technology advancement, interpretation of regulations and a diverse waste management industry. When you factor in issues of reduced staffing, higher operating costs, and shrinking budgets, financial departments are being continually asked to do more with less. Therefore companies who simply conduct business as usual are missing out on myriad opportunities: to save money, streamline their processes, reduce risk and minimize waste, and, in some cases to generate new streams of revenue.

However, most companies simply don't have the time, resources or tools necessary to properly source all of their products and services. So, financial departments invariably turn their focus to visible projects and high-dollar line items, and only notice the less obvious areas when a critical issue forces their attention.

This approach can significantly hurt your bottom line.

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