[Online, 2-Day] Cost Reduction & Profit Improvement Strategies
Course Information
  • 20-Dec-2022
  • Online
  • Nakulan Tharmalingam
  • English
  • RM 1280 RM 1120
    Until 04 Dec 2022
  • 9:00am - 5:00pm

[01] INTRODUCTION


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 prof- itability and cash flow of your organisation.

 

[02] COURSE OBJECTIVES

 

• 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 

 

[03] 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.

 

[04] METHODOLOGY

 

This stimulating program will maximize understanding and learning through Interactive Lectures, Course notes, Videos and Learning Assessments.
 

[05] DATE, TIME, FEE

 

Date :     20-21 December 2022 (Tue-Wed)

Time :     9.00am - 5.00pm

Mode:     Online / Interactive

 

FEE  |  [ HRD Corp Claimable ]

- Early Bird Offer (before 4 December 2022)       -       RM 1120

- Special Offer (before 16 January 2023)       -       RM 1200

- Normal Fee     -      RM 1280

 

>> Fee includes Course Notes, Certificate of Completion and 6% Service Tax

 

** OFFER **

- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.

 

[06] COURSE OUTLINE

 

Module 1: Why Cost Reduction

• Definition Of Cost Savings And Concept

• What is meant by Cost reduction & Cost avoidance?

• Risk of poor cost control

• Factors affecting the survival of a business

• When to conduct Cost Management Review

• Organizing an Effective Cost Reduction program & its benefits

 

Module 2: Cost Measurement and Analysis

• Cost Awareness

• Approaches of Cost measurements

• How to measure Manufacturing and Operational efficiencies 

• Spend Analysis

• ABC cost reduction analysis

 

Module 3: Sales & Marketing Cost Management & Improvement Strategies

• How does Sales affect the bottom line of an Organization

• Factors affecting the Sales Trend

• Driving optimization through Customer Mix, Class & Regional Analysis

• Analyzing Sales Productivity and Effectiveness

• Driving Profitable Product (SKU) Portfolio Strategy

• Promotional Spend Tracking Analysis and Evaluation

 

Module 4: Procurement Cost Management & Improvement Strategies

• Determining the Procurement Strategy

• Conducting Spend Analysis

• Uncovering Profit opportunities in Purchasing functions

• Areas to look for in Procurement Cost Management & Improvement

• Sourcing Strategy

 

Module 5: Inventory Cost Management & Improvement Strategies

• Categories of inventory

• Why inventory is so critical for the survival of a company?

• The importance of an effective Inventory Management System

• What are the waste elements in Inventory?

• Capturing Inventory costs

• Other Working Capital improvement Opportunities

 

Module 6: Operating Expenses Management & Improvement Strategies

• What are the major Operating Expenses

• Cost Review Program for Operating Expenses

• Logistics Inbound and Outbound cost reduction 

• Removing Redundant cost

• Lean Management Cost reduction

• Outsourcing opportunities

 

Module 7: Building a Cost Reduction Culture

• The need for cost reports & Design of cost control reports 

• Cost control performance measures and ratios

• Reports should lead to action and deliver

• Selecting cost control measures which can be acted upon 

• Cost Reduction tracking KPIs

• Cost – Benefit Decision analysis

• Steps for Achieving Sustainable Cost Reductions 

• Moving Forward with Technological changes

 

Module 8: Course Summary – Developing your Action Plan

• Lesson Learned and Program Wrap Up

• Identifying Critical Initiatives and Developing Key Action Plan 

• Formulating Participants Personal Next Steps

 

[07] TRAINER PROFILE

 

NAKULAN THARMALINGAM

Chartered Accountant

Fellow Member of Chartered Association of Certified Accountant - FCCA (UK)

Member of the Malaysian Institute of Accountants

Certified Trainer: Finance & Supply Chain Programs

Certified HRDF Trainer 

Nakulan Tharmalingam a Chartered Accountant, Fellow Member of Chartered Association of Certified Accountant - FCCA (UK) is a Principal Consultant/Trainer with NT Business Consulting and Training responsible for Finance Transforma- tion and Supply Chain Management solutions. He is a Certi- fied Trainer in Finance and Supply Chain Programs.

Nakulan is a talented professional with over 35 years of progressive accomplishments leading Finance, Sales and Supply Chain and project management initiatives for major businesses. Strong strategic planner, problem solver and persuasive leader. Committed to managing operations and projects effectively while consistently delivering desired results and contributing positively to revenue generating activities.

Specialties: Auditing, Finance, Financial Accounting, Treas- ury, Accounts Payable, Accounts Receivables, Reconciliation, Fixed Asset and Project accounting, Solution development, F&A Training, Fraud risk assessment, Capital Budgeting and Process streamlining.

Led the implementation of SAP Finance, Sales and Distribu- tion Modules for Colgate-Palmolive. Specialist in Forecasting & Budgeting Business Modelling, Long Range business Planning. And Competitive Analysis Variance Analysis Cost Analysis / Control.

Nakulan spent over 28 years working with a major global MNC – Colgate Palmolive. His experience stretches across Finance, Commercial and Supply Chain operations. For over 8 years, he was a Director with the MNC with responsibility for all Customer Service & Logistics functions including Demand Planning /Inventory Management, Customer Service, Distribu- tion Operations and Logistics Alliances.

Nakulan is an experienced trainer and facilitator and conducts training sessions and workshops for managers, executives and non-executives in Finance, Commercial and Supply Chain programs.

 

[08] REGISTRATION & ENQUIRY

 

Email: yes@sst2u.com 

Enquiry:

- Teo (011 - 3178 9203)

- Logesh (012 - 503 0346)

- Siti (012 - 383 8603)

- Han (019 - 323 0507)