MODERN TECHNIQUES FOR MANUFACTURING COST REDUCTION AND CONTROL

CLASSROOM FEE: ₦80,000 | ONLINE FEE: ₦60,000

SYNOPSIS: Businesses that don’t control their costs don’t stay in business. How well are you doing? Is everyone in your organisation sufficiently aware of costs, managing them effectively and maximising opportunities to reduce them? True cost management is about being aware of costs, seeking to reduce them through good design and efficient operating practices whilst taking continuing action on overspending.

COURSE OBJECTIVES

At the end of this training, participant shall be able to:

• Gain an appreciation of the importance of manufacturing control and cost reduction success.
• Positively impact the bottom line by learning how to improve factory utilization with a cost reduction strategy.
• Apply real-life examples of manufacturing cost techniques and technological adoption at world class industries.
• Create manufacturing cost reductions and improve margins by increasing operation effectiveness.

COURSE CONTENT

Manufacturing Cost, Concepts and Applications

• Fundamental Elements of Manufacturing Cost Control
• Factors that impacts Manufacturing Cost Control
• Choosing Manufacturing Production Control & Cost

Quantitative Manufacturing Cost Control Methods

• Cost Measurement and Analysis
• Revenue and Cost Control & Evaluation
• Quantitative Cost Control Methods
• Optimization Techniques Utilized for Cost Analysis
• Cost Containment through Project Planning

Sustainable Cost Control and Reduction

Cost reduction opportunities

• Streamlining the organization and the ESSA method
• SMART practices for increasing productivity
• Cost savings opportunities
• Barriers to a cost cutting program
• Getting commitment to a cost cutting program
• One hundred and forty ideas to cut costs

Principles of cost reduction: the quality approach

• Quality defined
• Cornerstones of quality
• Barriers to cost reduction programs
• Setting up a cost reduction program
• Resistance psychology in humans
• Techniques to involve employees in your quality improvement tasks
• The role of suggestion schemes

TARGET AUDIENCE: Officers, Supervisors and Managers in Production, Quality Control, Maintenance and Technical, a quality improvement function and other Strategic Business Units etc.