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

20 - 22 Feb, 2019  3 days

Follow Event

  

NGN 125,000

Venue: 5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos.

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. Feb 20 - 22 Feb, 2019

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

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

NGN 125,000.00(VAT Inclusive)
(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
Management Development for Personal Assistants and Senior Secretaries Course Management Development for Personal Assistants and Senior Secretaries Course

5 days, 16 - 20 Sep, 2019 

2019-09-16 12:09:00
State, Nigeria

Tom Associates Training

This course will take the PAs and Senior Secretaries through some thought process that focuses on the style and work culture which characterizes the managers they work with. The jobs of Personal ...

Advanced Excel Simplified for Financial Analysis Course Advanced Excel Simplified for Financial Analysis Course

5 days, 05 - 09 Aug, 2019 

2019-08-05 12:08:00
Lagos State, Nigeria

Tom Associates Training

Advanced Excel is for people who already can create moderately complex spreadsheets and still want to add more sophistication and automation. This training will equip participants with relevant tools ...

The Approach to Turning Mid-Level Functional Managers into Great Leaders Course The Approach to Turning Mid-Level Functional Managers into Great Leaders Course

4 days, 06 - 09 Aug, 2019 

2019-08-06 12:08:00
Lagos State, Nigeria

Tom Associates Training

This is a course that gets every aspiring leader into three insights for leadership success, namely: Insight into a Big Goal that will define the leadership success in life, business or career ...

Parish Administrators Training Parish Administrators Training

3 days, 02 - 04 Oct, 2019 

2019-10-02 12:10:00
Lagos State, Nigeria

Tom Associates Training

The Parish Administrator is responsible for the supervision and management of administrative functions, financial activities, plus systems related processes for a church parish. Parish ...