Innovative Cost Savings Strategies
5 DaysInnovative Cost Savings Strategies
Course Methodology
The course is mainly based on sharing real examples of what an organization can do to save costs. In addition, this interactive course will include presentations by the consultant as well as individual and group exercises and workshops.
Course Objectives
By the end of the course, participants will be able to:
- Identify how costs affect both cash and accrual basis income
- Analyze HR costs and find ways to decrease them before firing employees
- Research and advise on cost cutting in different departments
- Suggest and implement industry related cost saving strategies and techniques
- Find new ways of doing business that can save hidden costs
Target Audience
Financial managers or directors, accountants, financial assistants, budget accountants, analysts, budget and planning managers and coordinators, operations managers, HR managers, facilities managers and professionals interested in cost savings.
Target Competencies
- Analyzing costs
- Assessing value adding costs
- Decreasing costs
- Cutting costs
- Advising to buy or lease
- Evaluating performance
Course Outline
- Importance of saving costs and improving productivity
- Advantages
- Disadvantages
- Costs effect on cash and accrual basis income
- Analyzing HR costs
- Work force size
- Employee benefits
- Insurance
- Retirement and pension
- Exchange benefits for money
- Trainings
- Trainings for new hires
- Trainings for all employees
- Employee relations
- Acquiring employees
- Retaining employees
- Eliminating bad employees
- Productivity and employees
- Travel and entertainment
- Alternatives to decreasing employees
- Department costs
- Production
- Sales
- Advertising and marketing
- Shipping
- Accounting
- Purchasing
- IT
- Customer service
- Industry related costs
- Home office
- Manufacturing
- Food service
- Retail
- Healthcare
- Education
- Hidden costs
- Rent and building
- Maintenance
- Lease or buy
- Utilities
- Office supplies and equipment
- Litigation
- Outsourcing
- Theft
Mawred Certificate
Mawred Certificate courses by Al mawred Training & Consulting are designed for those willing to challenge themselves and go the extra distance...
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Classroom Schedule
Virtual Schedule
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