Organizations have always been in the competitive environment, the only difference now is the pace and complexity of competition due to such common themes as globalization, Information Technology and Internet revolution. Therefore, to be competitive, organizations need to reduce cost and improve quality – but there is a catch. When mentioning about cost cutting, most employees would shiver and run for cover. Why? People have associated cost cutting with cuts in overtime, benefits, or even retrenchment – no wonder. This 1-day cost management training aims to share techniques of cost savings and at the same time looks at managing your competitive advantage, i.e., your people.
At the end of this cost management training, participants should be able to :
Acquire a comprehensive understanding of measurement techniques.
Help in the organization’s cost savings plan.
Know how to focus and prioritize on areas of importance.
Acknowledge the importance of systems improvement.
Handle people better in the process of cost reduction.
Duration : 1Day
This program will benefit all 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. Head, General Manager, Senior Manager / Manager and Executives of the following are also encouraged to attend :
Finance/ Financial Planning/ Financial Control.
Cost Control/ Budget Control.
Manufacturing/ Factory/Production/ Plant.
Project Management/ Project Costing.
Sales & Marketing.
Those in charge for designing and managing a budgetary system.
Definition Of Cost Saving And Concept
2. The Cost “PIE” – Cost Components In Manufacturing
– Cost and Savings Measurement: A Partner in Savings
Introduction To Base Measurement ( How To Set Base Target Before Moving On To Savings )
– Generic Savings Calculation
Four Types Of Base Measurement / Techniques For Specific Scenarios And Circumstances In Organization
– Straight Line
– Comparable Volume
– Equivalent Units
– Linear Regression
Base Deployment (Application Workshop): Potential Areas For Cost Reduction Or Savings For Various Departments
– Case Study
How To Develop And Implement Cost Reduction Programme
– Why cutting overtime, human resource and benefits are not good ideas