Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Cost Reduction and Management Guides Course

By: Tom Associates Training  

Lagos State, Nigeria

10 - 12 Oct, 2018  3 days

Follow Event

  

NGN 125,000

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. Oct 10 - 12 Oct, 2018

Registration: 08:30:am - 09:00:am

Class Session: 09:00:am - 04:00:am

NGN 125,000.00
(Convert Currency)

Mr Abiodun Toki 08033019120

Discount of 5% to 3-4 Participants from Same Organization. Discount of 10% to 5 or More Participants from Same Organization.
NST PPC Advert
Related Courses
Intermediate Skills for Effective Office Administration Course Intermediate Skills for Effective Office Administration Course

5 days, 18 - 22 Nov, 2019 

2019-11-18 12:11:00
Lagos State, Nigeria

Tom Associates Training

An effective administrator is an asset to any organization as the link between various departments who ensures the smooth flow of information from one part to the other. Thus without ...

Leading with Emotional Intelligence Course Leading with Emotional Intelligence Course

3 days, 15 - 17 Apr, 2019 

2019-04-15 12:04:00
Lagos State, Nigeria

Tom Associates Training

In this Leadership with Emotional Intelligence training, managers participating will gain a better understanding of self-management and self-awareness for leadership acumen. This in turn ...

Making your Business Blossom in a Suppressive Market: Groundbreaking Action Plans for Cutting-Edge Companies Making your Business Blossom in a Suppressive Market: Groundbreaking Action Plans for Cutting-Edge Companies

4 days, 15 - 18 Apr, 2019 

2019-04-15 12:04:00
Lagos State, Nigeria

Tom Associates Training

This courses teaches pungent lessons to any business that will successfully wade through a period when its counterparts are experiencing comatose: How much time managers spend on problem definition, ...

Budgeting, Forecasting and Budgetary Control Course Budgeting, Forecasting and Budgetary Control Course

4 days, 09 - 12 Apr, 2019 

2019-04-09 12:04:00
Lagos State, Nigeria

Tom Associates Training

The programme is designed to equip Managers and Heads of departments entrusted with departmental or organisational budgets with knowledge and skills necessary to enable them effectively manage and ...