Cost Reduction Tips - How To Cut Costs And Maximize Profits
2h 20mBeginner2019-07-16
Authors
Chris Croft
Lecturer, Thought Leader, Project Management, Leadership
Course details
Cost reduction is about making more out of less. By cutting some of its most significant sources of waste and overspending, a company can increase its earnings—all without generating any growth in sales. In this course, instructor Chris Croft conducts a detailed tour of some of the best ways to save. Discover how to identify your most profitable customers (and which ones are actually costing you money). Learn how to cultivate a work environment that energizes employees and boosts their efficiency. Plus, explore techniques for handling costs that are unrelated to people, including how to more effectively manage inventory and spot ways to enhance your IT systems.
Learning objectives
Different cost areas affecting your business
Comparing cost vs. income
Enhancing your work environment
Focusing on the most important management tasks
Getting better deals on raw materials and labor
Recognizing your optimum quality level
The hidden costs of subcontracting
Where to avoid cutting costs
Top ten cost-cutting actions to take
Learning objectives
Different cost areas affecting your business
Comparing cost vs. income
Enhancing your work environment
Focusing on the most important management tasks
Getting better deals on raw materials and labor
Recognizing your optimum quality level
The hidden costs of subcontracting
Where to avoid cutting costs
Top ten cost-cutting actions to take
Skills covered
Business AnalysisProject ManagementBusiness Analysis and StrategyDeep Dive (X:Y)
Concepts
0. Introduction
- 01 - What to expect
1. What to Reduce
- 02 - What to reduce - Introduction
- 03 - Identify your main areas
- 04 - Pareto - Where does all your money go
- 05 - Comparing cost vs. income
- 06 - Are your customers a cost
- 07 - Wrap up
2. Reducing Labor Costs
- 08 - Bad time management
- 09 - The cost of low morale
- 10 - Bureaucracy and how to reduce it
- 11 - Only have brilliant meetings
- 12 - Effective uses of management time
- 13 - Utilization of people
- 14 - The true cost of staff turnover
- 15 - How to choose who to fire
- 16 - Better alternatives to firing
- 17 - Reorganisation - Good or bad
- 18 - Wrap up
3. Costs Other Than People
- 19 - Costs other than people - Introduction
- 20 - Stock - The hidden curse
- 21 - Central purchasing department analysis
- 22 - Are subcontractors a hidden money pit
- 23 - What is your optimum quality
- 24 - Effectively managing queues
- 25 - Bottlenecks
- 26 - Poor utilization of assets
- 27 - The real cost of bad IT
- 28 - The small stuff
- 29 - Get value from marketing
- 30 - A lack of investment can be costly
- 31 - Your company culture
- 32 - Wrap up
4. Top 10 Tips
- 33 - Top 10 tips - Introduction
- 34 - Top 10 things to measure
- 35 - Top 10 action to take
Conclusion
- 36 - Congratulations