Efficiency projects are usually not too exciting, especially when compared to activities that are aimed at growing the business, launching new products or trendy new marketing plans. However, I believe the time is right to take another look at efficiency projects, as their returns may be better than you expect given the likelihood of increasing labor, materials and energy costs over the coming years. This column is devoted to some useful places to look for improved efficiency.
Lets start with energy efficiency projects, which may have been sidelined for a long time when oil prices tanked between 2014 and 2015. Oil prices have more than doubled since those lows, and it behooves you to revisit energy efficiency projects. Examples include: