IDEA: Get outside bids on work your firm does now. When bids arrive, see how fat you are.

Send the parts you make to outside shops to get some bids which may tell you how fat your costs are in relation to competitors. Involve your employees and tell them you must get cost out of these products to keep making them inside and in order to be more competitive.  Ask questions as to material costs, excessive labor costs, slow or old machines used or maybe just the questions and the attention alone paid to the production will speed up the process.