15 customisable OKR examples for Operations Cost

What are Operations Cost OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.

We've tailored a list of OKRs examples for Operations Cost to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Building your own Operations Cost OKRs with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.

Feel free to explore our tools:

Our customisable Operations Cost OKRs examples

We've added many examples of Operations Cost Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.

Hope you'll find this helpful!

1. OKR to achieve significant reduction in operations cost

  • ObjectiveAchieve significant reduction in operations cost
  • Key ResultDecrease monthly overhead expenses by at least 10%
  • TaskIdentify and eliminate unnecessary services or subscriptions
  • TaskNegotiate lower costs with vendors or suppliers
  • TaskImplement energy-efficient practices in office operations
  • Key ResultProcure 20% of materials from lower-cost suppliers without compromising quality
  • TaskTransition 20% of orders to selected suppliers
  • TaskConduct sample tests to ensure material quality
  • TaskIdentify potential lower-cost suppliers with high-quality materials
  • Key ResultImplement automation in 3 operations processes to save labor cost
  • TaskIdentify 3 operations processes suitable for automation
  • TaskResearch and select suitable automation software
  • TaskTrain staff on new automation tools

2. OKR to increase cost management efficiency for people and operations

  • ObjectiveIncrease cost management efficiency for people and operations
  • Key ResultImplement cost tracking system to monitor and analyze spend across departments
  • TaskTrain department heads in cost tracking system usage
  • TaskLaunch system and begin monitoring departmental expenses
  • TaskSelect cost tracking software suitable for our business needs
  • Key ResultTrain managers on cost management best practices to mitigate overspending
  • TaskFollow-up on training effectiveness and changes
  • TaskIdentify experts to guide practice implementation
  • TaskArrange cost management training seminars for managers
  • Key ResultReduce operational costs by 10% through process optimization and automation
  • TaskConduct a thorough assessment of current operational processes
  • TaskImplement process optimization and automation strategies
  • TaskIdentify inefficiencies and areas for automation

3. OKR to achieve substantial operational cost reduction

  • ObjectiveAchieve substantial operational cost reduction
  • Key ResultImplement automation in 3 high-cost operational activities to improve efficiency
  • TaskImplement and monitor the automation processes
  • TaskDesign suitable automation strategies for each operation
  • TaskIdentify 3 high-cost operations prone to automation
  • Key ResultReduce operational expenses by 15% through process optimization and waste reduction
  • TaskIdentify and eliminate inefficient operational processes
  • TaskTrain staff on optimized workflow processes
  • TaskImplement waste reduction measures across all departments
  • Key ResultReduce third-party vendor costs by renegotiating contracts and exploring alternative suppliers
  • TaskResearch and evaluate alternative suppliers
  • TaskDevelop and implement cost-effective contracts with new vendors
  • TaskInitiate negotiations for current vendor contracts

4. OKR to streamline and expedite cost allocation computation process

  • ObjectiveStreamline and expedite cost allocation computation process
  • Key ResultDecrease computation process by 30% through automation or process enhancement
  • TaskDesign and implement automation scripts or software
  • TaskIdentify areas where automation can reduce computational processes
  • TaskEvaluate and tweak enhancements for optimal efficiency
  • Key ResultSuccessfully complete 100% of cost allocation computations by day 3
  • TaskReview and finalize computations by day 3
  • TaskStart cost allocation computations on day 1
  • TaskDedicate sufficient time and staff to computations
  • Key ResultDevelop a plan to optimize the computation method within the first 2 weeks
  • TaskIdentify current computation inefficiencies
  • TaskImplement and test the chosen method
  • TaskResearch alternative, optimized computation methods

5. OKR to boost the overall sales in the upcoming quarter

  • ObjectiveBoost the overall sales in the upcoming quarter
  • Key ResultGrow the customer base by 20% resulting in increased purchases
  • TaskImprove product offerings to stimulate higher demand
  • TaskLaunch targeted marketing campaigns to attract new customers
  • TaskImplement a referral program to incentivize existing customers
  • Key ResultReduce operational costs by 15% to increase net income
  • TaskReview and analyze current operational expenses
  • TaskImplement cost-reduction strategies across operations
  • TaskIdentify cost-saving opportunities in processes
  • Key ResultImplement a new upselling strategy to enhance average transaction value by 10%
  • TaskMonitor and track sales data to assess strategy effectiveness
  • TaskTrain sales team to effectively execute the new upselling strategy
  • TaskDevelop a new upselling strategy targeting high-value products or services

6. OKR to implement cost savings/automation initiative

  • ObjectiveImplement cost savings/automation initiative
  • Key ResultDevelop detailed implementation plan for chosen initiative by week 8
  • TaskIdentify objectives and deliverables of the chosen initiative
  • TaskAssign roles and responsibilities related to the plan
  • TaskDevelop comprehensive timeline for each task by week 8
  • Key ResultIdentify 3 potential areas for cost savings/automation by week 4
  • TaskReview current expenditures to identify key cost areas
  • TaskAnalyse processes for potential automation
  • TaskIdentify inefficiencies within procedures
  • Key ResultAchieve 10% cost reduction or time savings via the implemented initiative by week 12
  • TaskSet clear goals for the initiative focusing on cost reduction
  • TaskAdapt and improve strategies according to progress
  • TaskRegularly track and evaluate the initiative's performance

7. OKR to minimise and optimise operational expenditure effectively

  • ObjectiveMinimise and optimise operational expenditure effectively
  • Key ResultIncrease operational efficiency by 15% through the utilisation of lean methodologies
  • TaskTrain team in lean methodologies and continuous improvement principles
  • TaskContinuously monitor, measure and adjust for improved efficiency
  • TaskImplement lean tools, such as 5S, to optimize processes
  • Key ResultImplement at least 3 cost-saving initiatives within various departments
  • TaskDevelop and present cost-saving initiative proposals
  • TaskIdentify potential cost-saving areas in different departments
  • TaskImplement selected cost-saving strategies in respective departments
  • Key ResultAchieve a 10% reduction in total operational costs without compromising output quality
  • TaskNegotiate lower prices with vendors
  • TaskImplement lean processes to reduce waste
  • TaskEvaluate and optimize energy usage for cost efficiency

8. OKR to boost the company's overall revenue

  • ObjectiveBoost the company's overall revenue
  • Key ResultIncrease product sales by 15%
  • TaskEnhance product visibility on online platforms
  • TaskDevelop and implement targeted marketing strategies
  • TaskImprove customer engagement and feedback process
  • Key ResultDecrease operational costs by 10%
  • TaskImplement energy efficiency measures across all departments
  • TaskNegotiate better terms with suppliers and vendors
  • TaskTrim down unnecessary staff overtime
  • Key ResultLaunch 2 new profitable products
  • TaskFinalize and launch the new products
  • TaskDevelop marketing strategy for new products
  • TaskIdentify and research potential profitable products

9. OKR to improve cost efficiency through optimal resource allocation

  • ObjectiveImprove cost efficiency through optimal resource allocation
  • Key ResultReduce waste in resource allocation by identifying and eliminating non-essential expenses by 20%
  • TaskImplement and monitor the expense reduction plan
  • TaskIdentify non-essential expenses in current resource allocation
  • TaskCreate a plan to reduce these expenses by 20%
  • Key ResultReduce overall operational costs by 10% through careful cost monitoring and control
  • TaskImplement regular audits to identify unnecessary expenses
  • TaskEnforce strict budgeting and reduce waste
  • TaskIntroduce cost tracking systems in all departments
  • Key ResultIncrease resource utilization rate by 15% while maintaining performance quality
  • TaskImplement efficient resource allocation strategies
  • TaskProvide regular training for optimal resource utilization
  • TaskMonitor and optimize resource usage regularly

10. OKR to streamline financial processes for enhanced profit growth

  • ObjectiveStreamline financial processes for enhanced profit growth
  • Key ResultIncrease net profit margin by 10% through operational efficiencies
  • TaskIncrease pricing strategy efficiency to boost profit
  • TaskStreamline supply chain to reduce operational expenses
  • TaskImplement cost-saving measures in production processes
  • Key ResultImprove financial forecasting accuracy by 15% through use of advanced analytics
  • TaskTrain staff on accurate use of analytics tools
  • TaskContinually assess and refine forecasting model accuracy
  • TaskImplement advanced analytics software for financial forecasting
  • Key ResultImplement two new innovative cost-reduction strategies by the end of the quarter
  • TaskDevelop a detailed plan for implementation
  • TaskResearch and identify potential cost-reduction strategies
  • TaskExecute and monitor the new strategies

11. OKR to increase annual revenue to $30 million

  • ObjectiveIncrease annual revenue to $30 million
  • Key ResultImprove operating efficiency by reducing overhead costs by 10%
  • TaskNegotiate with vendors and suppliers to secure better pricing and/or discounts on necessary materials and services
  • TaskImplement technology solutions or automation tools to streamline operations and reduce manual effort
  • TaskConduct a thorough review of all overhead expenses and identify areas for cost reduction
  • TaskStreamline processes and eliminate any unnecessary steps or redundancies in operations
  • Key ResultIncrease sales volume by 15% compared to the previous quarter
  • TaskTrain sales team on effective sales techniques and provide ongoing support and motivation
  • TaskIdentify target market and create targeted marketing campaign to attract new customers
  • TaskImplement a customer loyalty program to encourage repeat purchases and increase customer retention
  • TaskCollaborate with suppliers to negotiate bulk discounts and lower costs to maximize profit margins
  • Key ResultExpand trading operations to three new markets
  • TaskConduct market research to identify potential markets for expansion
  • TaskEstablish partnerships or collaborations with local partners in the target markets
  • TaskDevelop a strategic plan for entering new markets, including budgeting and resource allocation
  • TaskImplement marketing and advertising campaigns to raise awareness and attract customers in new markets
  • Key ResultAchieve a customer retention rate of 90% or higher

12. OKR to achieve profitability by reducing operational costs by 20% in the current fiscal year

  • ObjectiveCut operational costs to achieve profitability
  • Key ResultReduce employee overtime costs by 30%
  • Key ResultImplement automation processes to reduce manual labor costs by 20%
  • Key ResultDecrease inventory storage costs by 25%
  • Key ResultLower utility expenses by 15% through energy-efficient measures

13. OKR to reduce operational cost in the Network Operations Center

  • ObjectiveReduce operational cost in the Network Operations Center
  • Key ResultReduce unnecessary expenses by 15% through procurement optimization
  • TaskImplement a stringent approval process for all procurements
  • TaskConduct regular reviews of procurement practices
  • TaskEliminate redundant suppliers to consolidate spending
  • Key ResultImplement cost-effective automated systems to decrease manual labor costs by 20%
  • TaskImplement the chosen systems and monitor the cost-saving
  • TaskResearch and select cost-effective automation systems
  • TaskIdentify areas where automation can replace manual labor
  • Key ResultAchieve a 10% reduction in energy usage through efficient resource management
  • TaskImplement weekly power shutdowns in non-essential areas
  • TaskInstall energy-efficient lighting and appliances throughout the facility
  • TaskInsulate building envelope to optimize heating/cooling use

14. OKR to boost sales to achieve profitable standing

  • ObjectiveBoost sales to achieve profitable standing
  • Key ResultDecrease operational and production costs by 15% via optimization efforts
  • TaskReview and streamline production processes to eliminate inefficiencies
  • TaskImplement energy-saving measures to reduce utility bills
  • TaskNegotiate supplier contracts for better pricing
  • Key ResultIncrease total customer base by 30% to multiply potential sales points
  • TaskLaunch targeted promotional campaigns to attract new customers
  • TaskDevelop and execute a comprehensive marketing strategy
  • TaskStrengthen customer retention through improved after-sales support
  • Key ResultImprove sales conversion rates by 20% through enhanced marketing strategies
  • TaskCreate persuasive and engaging product descriptions
  • TaskDeploy targeted ad campaigns across different digital platforms
  • TaskDevelop a captivating unique selling proposition to attract potential customers

15. OKR to boost sales volume and ensure long-term company sustainability

  • ObjectiveBoost sales volume and ensure long-term company sustainability
  • Key ResultDevelop two new client relationships for potential future sales agreements
  • TaskIdentify potential clients aligning with our product/service offerings
  • TaskDevelop and present tailored proposals to identified clients
  • TaskReach out to potential clients, initiate discussions
  • Key ResultImplement cost-saving measures to improve net profit margin by 10%
  • TaskEvaluate and optimize supplier contracts for lower costs
  • TaskOptimize workforce management to reduce overtime payments
  • TaskImplement energy-saving procedures in company operations
  • Key ResultAchieve a 15% increase in sales by expanding our customer base
  • TaskEnhance customer service to improve retention rates
  • TaskDevelop and implement an aggressive marketing strategy
  • TaskIdentify and target new customer demographics

Best practices for managing your Operations Cost OKRs

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tability Insights DashboardTability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to the weekly check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

Being able to see trends for your key results will also keep yourself honest.

Tability Insights DashboardTability's check-ins will save you hours and increase transparency

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

Best way to track your Operations Cost OKRs

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:

  • It brings the goals back to the top of the mind
  • It will highlight poorly set OKRs
  • It will surface execution risks
  • It improves transparency and accountability

Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.

A strategy map in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Operations Cost OKR templates

We have more templates to help you draft your team goals and OKRs.

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.

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