Altria Centralizing Operations In $600M Cost-Savings Initiative

Altria Group launched a cost-savings initiative to improve organizational speed and agility through the use of artificial intelligence and other automation. 

Known as Optimize & Accelerate, the multi-phase plan will centralize, streamline, and standardize processes for the consumer goods company over the course of 12-18 months. The company expects the initial phase will deliver at least $600 million in savings over the next five years. 

As part of this, they’re establishing an Accelerated Business Solutions organization within the company, which will be responsible for driving efficiency and processes through the enterprise. 

In addition to further leveraging AI and automation, the initiative focuses on outsourcing some “transactional” tasks.