Cost Reduction Fundamentals

- Where to go looking for cost reduction solutions

- 16 proven tools to drive sustainable cost reduction in your business

- The governance to track and sustain cost reduction activity

Who should attend this course?

• Finance and Procurement people looking to increase their margins through more effective cost management

• Businesses looking for inspiration on how to cut costs and stay competitive

• Suitable for product or service-related businesses

• Why is cost reduction important?

• Where to start looking – getting your house in order

• What are the obstacles to better efficiency?

• Employees: motivation, skills, absence, meetings, retention,

• Quality – what’s the cost of better quality – is it worth it?

• Customers – are they costing you money?

• Cost reduction opportunities with 3rd party spend

• Spend visibility - What data do you need and how do you get it?

• Demand management - 8 levers to reduce cost, and you’re in control

• Supply-side management - 8 levers to reduce cost by using your market position

• Contract management - supplier performance , remedies and SLA’s

• Price increases – the 10-step process to mitigate and manage price increases

• Sustaining it all – spend governance

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