Who Optimizes SG&A Costs Better? Avery Dennison Corporation or CNH Industrial N.V.

Optimizing SG&A Costs: A Tale of Two Giants

In the competitive world of industrial and manufacturing sectors, managing Selling, General, and Administrative (SG&A) expenses is crucial for profitability. Avery Dennison Corporation and CNH Industrial N.V. have been at the forefront of this challenge since 2014. Over the past decade, Avery Dennison has demonstrated a consistent approach, maintaining its SG&A expenses around 1.15 billion annually, with a notable peak in 2022. In contrast, CNH Industrial has seen a more volatile trend, with expenses peaking in 2014 and then gradually decreasing by approximately 40% by 2023. This shift highlights CNH Industrial's strategic cost optimization efforts, especially in recent years. As businesses navigate economic uncertainties, these insights into SG&A management offer valuable lessons in balancing growth and efficiency.