Shrinking bottom lines and declining profit margins have made it imperative for organisations to manage costs. Organisations are aggressively looking for opportunities to minimize costs without impacting the product/ service quality or market positioning. Those who opted for focused cost reduction strategies have survived and those who did not manage well have perished. In the recent economic downturn it becomes important to make cost reduction program a major initiative in the industry.
This programme offers a unique approach for managing costs by improving visibility over product cost structures and business processes. It will equip you with the tools for improving productivity and efficiency to enhance the profitability and cash flow of your organisation.
· Understand the rationale required for a Cost reduction strategy
· Identification of cost reduction and business improvement opportunities
· Better reporting and ownership of costs
· Greater awareness and control of everyday costs
· Objectively identify and evaluate all existing costs
· Prioritize the cost reduction efforts on high-return opportunities
· Implement and sustain a cost reduction program
· Fundamentally reduce cost through process improvement
· Help in the organization’s cost savings plan
· Identify key issues that is affecting their business / operations
· Saving Cost through across all Functions of the Organization
· Develop action plans to analyze, implement and monitor the results
Program Outline : ( 2 Days )
Module 1: Why Cost Reduction
Module 2: Cost Measurement and Analysis
Module 3: Sales & Marketing Cost Management and Improvement Strategies
Module 4: Procurement Cost Management and Improvement Strategies
Module 5: Inventory Cost Management and Improvement Strategies
Module 6: Operating Expenses Management and Improvement Strategies
Module 7: Building a Cost Reduction Culture
Module 8: Course Summary – Developing your Action Plan
Online synchronous interactive classes, Course notes, Videos, Learning Assessments
Who should attend:
This program will benefit all executives, supervisors, engineers, managers, and those who have been assigned to improve productivity and reduce cost for the organization, and for those who wish to improve their understanding and skills in relation to managing cost
Requirements: Computer with strong internet connection, webcam, microphone and Microsoft Teams video conferencing platform.
When is the Class ?
Date : Refer to schedule 👉
Time : 9:00am - 5:00pm (GMT+8)