In today's world economy characterized by falling growth, continued recession and turbulent times, costs become central focus for control. Un-predicted Pressures on prices and margins putting investor return at risk. Thus cost control and cost reduction has become a priority agenda for all most all businesses. Most companies are compelled to explore and exploit all possible cost reduction and productivity enhancement techniques for their very survival. Implementation of strategic and operational cost saving measures is essential to protect revenue and secure growth. Improving revenues and profits is a primary objective for all businesses and enterprises. As managers and key functional holders you need to ensure to act cost consciously to leverage cost saving measures. It’s vital to implement and exhibit timely high reward cost saving measure in a reasonable timeframe without missing opportunities.
Identifying Cost Saving opportunities and evaluating prices through Cost and Price analysis and developing strategies for cost savings are essential skill sets in meeting the corporate objectives especially in the turbulent times and volatile market conditions.
This Cost Reduction Opportunities training course provides both strategic and practical insights into the concepts of Cost/Price/Value Analysis, Total Cost of Ownership and methods of Saving Costs that are essential skill sets in developing and implementing the strategies required for continuous improvements in Cost Savings. This course will demonstrate a strategic and practical approach to set and attain Cost Saving goals in the organization. The major focus is on identifying and prioritizing cost reduction initiatives which do have detrimental effects in all businesses. Cost Reduction Opportunities Program will leave you motivated and focused on specific initiatives which can be applied immediately to great effect.
By attending Cost Reduction Opportunities workshop, delegates will learn to:
- Define the Costs, Cost Control / Reduction process
- Identify Cost Saving Opportunities for your Company
- Develop Strategies & Methods for the company to attain Cost Savings
- Prepare the budgets & analyze the variance between the budget and actuals
- Use the cost strategic control system to reduce cost
- Measure cost Saving initiatives & prepare Cost Saving reports
- The Program is divided into Four Sections - designed to move gradually from understanding the Concepts to practical inference and implications to industry situations and providing insights of various tools & techniques to implement in real life situations.
- Learners will increase competencies and gain desired skill sets through a variety of instructional methods and sharing experience, cases/exercises and group discussions covering current practices and their relationship to the implementation of best practices.
- Learners are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues in their company or industry.
The Cost Reduction Opportunities class is aimed at Middle and Senior level executives functionally responsible for management of
- Supply Chains, Procurement, Materials, Stores, Logistics
- Contracts, Projects, Constructions, Services
- Accounting, Finance, Costing, Commercial, Mgt. Information System
- Engineering, Production, Maintenance
- Any other Trade & Business