Nigerian Seminars and Trainings

Search conferences, training, seminars, courses and workshops in Nigeria and around the world

business logo

Cost Reduction and Management Guides

By: Tom Associates Training  

Lagos State, Nigeria

08 - 10 Feb, 2017  3 days

Follow Event

  

NGN 115,500

This course is most relevant now because Nigeria at present is a truly tough economy, an environment where cost efficiency must simply be a matter of common sense. The whole organization and all levels of management should master it.

Generating substantial revenue from pre-existing business elements as well as understanding competitive cost reduction is now a viable strategy. Cutting costs and managing margins is generally a more predictable and controllable way to maximize business profits than growing sales, particularly in this depressed economy.

Every naira saved from cost goes directly to the bottom line. Costs directly linked to product quality, excellent customer service, or your defined competitive edge is strategic.

Whatever fails to conform to the above stands to be considered an overhead?

Course Contents

Day One

Introduction: Cost Reduction vs Cost Control

  • Supply and Demand Analysis
    • Comparative data from the industry
    • Reviewing cost of sales
    • Reducing supply costs
    • Seasonality effects
    • Change the product mix to get rid of costly items
  • Shopping Smart
  • Office supplies
  • Raw materials and consumables
  • Production equipment
  • Trained procurement officer
  • Utilize bulk discount opportunities
  • Vendors - best allies when implementing cost reduction strategies.

Day Two

Service and Transaction Charges

  • Monitor bank charges
  • Streamline the purchasing processes
  • Minimize freight charges.
  • Inventory Management Optimization
  • Automate to reduce back office labour expenses
  • Work at Just-in-Time delivery
  • Efficient space utilization through warehouse layout modification
  • Prudence about lines with regularly poor sales
  • Vendor managed inventory systems (VIM)
  • Vendor stocking programs (VSP)
  • Common supplier joint procurement policies.
  • Employee Productivity
  • Implement Quality Management System
  • Deal with bloated overhead
  • Automate business processes - reduce paper flow.

Day Three

Constant Vigilance

  • Annual review of contracts for major suppliers bids
  • Stop new headcount for growth
  • Create and adhere to a monthly budget
  • Challenge every expense
  • Set approval levels
  • Flash report to directly measure cash, profits
  • Tools of Technology, lean techniques, process engineering
5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos. Registration: 8.30 - 9.00 a.m. Class Session: 9.00 - 4.00 p.m. Feb 08 - 10 Feb, 2017
NGN 115,500.00(including VAT)
(Convert Currency)

08033019120

Discount of 5% to 3-4 participants from same organization. Discount of 10% to 5 or more participants from same organization.
Related Courses
Payroll Management, Compensation and Benefits Administration Payroll Management, Compensation and Benefits Administration

3 days, 20 - 22 Sep, 2017 

2017-09-20 12:09:00
Lagos State, Nigeria

Tom Associates Training

This is a course suitable for individuals administering the payroll function 'In-house' or managing providers of payroll services when outsourced. It is significant that every organization, ...

Advanced Mechanical Drives System Maintenance Advanced Mechanical Drives System Maintenance

5 days, 23 - 27 Oct, 2017 

2017-10-23 12:10:00
Lagos State, Nigeria

Tom Associates Training

The cost of running plant/machinery would continue to increase and may possibly ecome unbearable unless those in charge of maintenance are well informed and are able to apply the skills needed to ...

Frontline Leadership: Emerging Leadership Course Frontline Leadership: Emerging Leadership Course

2 month, 3 days, 11 Oct - 13 Nov, 2017 

2017-10-11 12:10:00
Lagos State, Nigeria

Tom Associates Training

The training course presents the basic principles that are the foundation of all the leadership activities and central to senior level effectiveness: Building and maintaining a positive, ...

Mastering Tax Administration Mastering Tax Administration

3 days, 05 - 07 Jun, 2017 

2017-06-05 12:06:00
Lagos State, Nigeria

Tom Associates Training

In recognition of the difficulty accounting officers often encounter when dealing with and preparing tax computations and returns, this course has been specially designed to assist candidates to ...