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Cost Reduction Strategies: Best Practices (4172585B)

 
Date:Friday, April 20, 2018
Time:11:30AM - 7:00 PM
(Registration at 11:00AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Accounting and Auditing
Instructor: Dennis Geyer
Vendor:California CPA Education Foundation
Course Level:Intermediate
Early Bird Price:$245.00 FICPA Members, $365.00 Non-Members

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.



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.


Major Topics:
  • 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


Who Should Attend:

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



Prerequisite:
Some knowledge of activity-based costing helpful.

Advanced Preparation:
None.

Session/Options

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Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.