2 days’ workshop
INTRODUCTION
In order to be an effective, reduce cost for procuring, you will learn to formulate cost reduction strategies and position your organization to negotiate from strength. Risk modelling skills to reduce procurement cost 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:
Identify Ways to Shave Procurement Costs
Ability to reduce Procurement Costs Through Direct Material Sourcing
Understand when to enhance your Negotiating Power
Identify Capex & Operational Expenditure for Saving
Apply Risk Modelling Skills for Procurement
Formulating the Cost Reduction Strategies for Your Organization Costs
METHODOLOGY
Case Study, Video & Group Discussion. Real-current problematic business cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Head of Department, Purchaser, Accountants, Business Managers, Marketing Managers & Supervisors
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Ways to Shave Procurement Costs
Review the purchasing process
Look at historical data.
Spending profiles for key suppliers
Explore alternative suppliers
Module 2: Three “Cs” of Procurement Cost Reductions
Consolidate similar suppliers
Consignment-shopping
Customer agreements
Module 3: Reduce Procurement Costs through Direct Material Sourcing
Ensure suppliers share your growth strategy
Share R&D costs with selected industry peers
Conduct risk management
Utilize your brand strategy
Module 4: Successful Procurement Negotiation
Developing the Negotiation Strategy
Win-Win versus Win-Lose
Negotiating by Telephone
Criteria of Successful Negotiators
Evaluating Your Negotiation Performance
Day 2
Module 5: Strategy in Purchasing Management- Sourcing
Steps in Cost Reduction
Identify Operational Expenditure for Saving
Identify Capex Expenditure for Saving
CFO Initiatives
Module 6: Managing Material Costs
Procurement
Inventory
Design errors
Technical errors
Reject output
Module 7: Risk Modelling Skills for Procurement
Analyzing the potential risks facing an organization
Mitigating controls
Weight the financial impact
Cost/benefit decision analysis
Risk Model software
Module 8: Formulate Your Cost Reduction Problem
High production cost
High reject cost
Cash flow problem
High AR- collection Problem
Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.
Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years period
He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination
Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd , Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK ; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd
He is currently providing management consultancy and training specialising in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.
Testimonials for Past Participants
“I find most useful in case study on Strategy in AP Management. Know more the cost reduction & expenses for saving” Toh May Ing, Account Executive, Harvest Aluminium Extrusions Sdn Bhd
“AP efficiency can lower the cost of expenses incurred” Pamela Eva, Account Assistant, Kuching Specialist Hospital SB
“What I enjoyed from this cost reduction program is Dr liew sharing on his real experience; Cost saving method & Case Study”: HR Manager, Hock Seng Lee Concrete