Learn how to reduce costs and improve profitability in a significant and sustainable way. This cost reduction training course is highly practical and result-oriented; it guides learners step-by-step through the process, from cost analysis to implementation planning. Ready-to-use tools and templates help shortening the learning curve to deliver cost savings faster.
You will analyze the current cost structure, differentiate the strategically-critical good costs from the non-essential bad costs, quantify healthy cost-volume-profit levels using cost trees, identify cost drivers and improvement levers, and develop the cost reduction roadmap.
By applying the 5 cost reduction strategies you will deliver significant savings in the short term and create a lasting cost advantage in the long term, while freeing up resources so they can be deployed for more productive use – ”cutting fat to build muscle”.
Roles for this cost reduction course include sponsor, student, and coach. The sponsor allocates resources and provides context, such as proliferating costs, lack of cash, declining profitability, or the entrant of a low-cost competitor. The student invests time to develop the cost driver tree and implement the cost reduction roadmap. The coach evaluates progress, provides advice and gives feedback.
Rather than employing the traditional cost-cutting approach, you will develop solutions that create real savings, not only by reducing bad costs and redefining requirements, but also by reallocating resources to unlock growth. A highly profitable journey to begin!