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Cost Reduction Strategies: Best Practices 4172585B
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As the pace of innovation accelerates and customers expect ever-higher standards of performance, consumers benefit from greater choice, lower prices and more convenience but, still, businesses face challenges. Learn about a new approach to cost reduction based on proven methodologies that will highlight the limitations of traditional bottom-line thinking. Follow along with a step-by-step guide through key areas, such as resource planning and product and process design.

 Export to Your Calendar 4/20/2018
When: 9:30 AM to 5:00 PM
Where: Webinar/Webcast
United States
Presenter: Dennis Geyer
Contact: April Deneault
801-466-10998


Online registration is available until: 4/20/2018
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Curriculums:   Finance, Financial Management. and Controllership,Financial Leadership Forum,Business and Industry

NASBA Credit Category:  Accounting

CPE Hours:  8

Description

As the pace of innovation accelerates and customers expect ever-higher standards of performance, consumers benefit from greater choice, lower prices and more convenience but, still, businesses face challenges. Learn about a new approach to cost reduction based on proven methodologies that will highlight the limitations of traditional bottom-line thinking. Follow along with a step-by-step guide through key areas, such as resource planning and product and process design. Actual case studies of successful cost reduction programs will be discussed. Additionally, learn how suppliers and customers can be part of the overall strategy to reduce costs.

Materials are provided as an ebook.



Major Subjects

  • Pitfalls of traditional thinking about costs
  • Attributes shared by world-class competitors
  • The causes of cost and how costs are driven out
  • Advantages of zero-base budgeting
  • JIT vs. ABC approaches to cost reduction
  • Incorporating suppliers and customers in cost strategy
  • Stages of cost management

Objectives

  • Determine the difference between bottom-line and customer-driven approaches to cost management.
  • Recognize the critical link between operational design and financial performance.
  • Learn the advantages of zero-base budgeting and how to deal with its disadvantages.
  • Identify how to combine the proven benefits of the JIT and ABC approaches to cost reduction.
  • Recall how to achieve results through improved productivity, cycle-time control, quality control and process value analysis.
  • Recognize the importance of eliminating idle resource capacity costs and nonvalue-added activity costs.

Level:  Intermediate

Designed For

CFOs, controllers, financial analysts and accountants who want to add value to their organizations.

Advanced Prep:

None.

Prerequisite

Some knowledge of activity-based costing helpful.

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