2 days’ workshop
INTRODUCTION
In order to be an effective, reduce cost & increase profit , you need to have the heart of an entrepreneur. This course will help to provide you with an environment that stimulates proactive behavior in order to achieve greater goals for yourselves and your organization. By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic business cases will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.
Course Objectives
By the end of this course you will be able to:
Managing Materials, Labor & overheads Costs
Strategies on Turnaround the Company
Apply Procurement Negotiation Strategy
Learnt from the success story of reputation organization
Applying Risk Modelling for Cost Reduction in Manufacturing Sector
Formulating the Cost Reduction Strategies for Your Organization Costs
METHODOLOGY
Case Study & Group Discussion. Real-current problematic business cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Entrepreneurs, Bankers, Accountants, Business Managers, Marketing Managers & Supervisors
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Cost Reduction Success Story
How to target saving for your organization
Module 2: Direct Material Cost
Procurement (Purchasing)
Inventory management
Design errors
Technical errors
Reject output
Re-work
Module 3: Managing Labor Costs
Inefficient Work Processes (eg, Vague job responsibility, Poor production planning, etc)
Absenteeism ( eg, Lack of commitment, Lack of supervision, etc)
Staff quality (eg, Insufficient trainings, Lack of integrity, etc)
Manpower management ( eg, Lack recruitment policy, Lack of empowerment, etc)
Staff turnover (eg, Lack of motivation- fringe benefits not attractive, Dislike the job function)
Complex process ( eg, Job done manually, Complex work flow, etc)
Module 4: Managing Overhead Costs
Assets Management (eg, Under-utilization of assets, Idle/excessive assets, etc)
Customers ( eg, Overdue account, Higher debts collection expenses, etc)
Financial resources (eg, High financing cost, sole financing source, etc)
Human resources (eg, Excessive training programmers, Excessive of overtime claims, etc )
Expenditures (eg, High utilities of telephone, fax , electricity; High rental cost, etc )
Day2
Module 5: Case Study (Turn-around the Company)
Asset conversion (conversion of assets to cash or profit)
Collection (Focus on collection & debt recovery )
Cost reduction ( review all aspects of costs drivers)
Revenues ( review all aspect of revenue drivers)
Purchasing policy ( focus on top 5 key suppliers; focus on fast moving items, etc)
Module 6: Procurement Negotiation Strategy
The Supply Positioning Model
Understanding Negotiating Styles
Negotiation Tactics
Objectives & Variables
Set targets for your preferred option(s)
Module 7: Successful Procurement Negotiation
Developing the Negotiation Strategy
Win-Win versus Win-Lose
Negotiating by Telephone
Criteria of Successful Negotiators
Evaluating Your Negotiation Performance
Module 8: Risk Modelling For Cost Reduction in Manufacturing Sector
Analyzing the potential risks facing an organization
Mitigating controls
Weight the financial impact
Cost/benefit decision analysis
Risk Model softwar