Shrinking bottom lines and declining profit margins have made it imperative for organizations to manage costs.

So Organizations are aggressively looking for opportunities and cost reduction strategies to minimize costs without impacting the product/ service quality or market positioning.

However, the pricing as demanded by the market forces requires the businesses to reduce product development and manufacturing costs to remain competitive.

Cost Reduction Strategies

Course Objective

After going through the cost reduction training programs participants will understand and learn about:

  • Firstly, To understand the rationale required for cost reduction strategies.
  • Secondly, To learn about how to apply core tools of lean manufacturing in their business.
  • Thirdly, To understand the 10 steps automation strategy.
  • Then, To learn about the methods of implementing cost reduction measures.
  • Recognize the cost reduction techniques.
  • Next, To understand how to do the cost reduction through low-cost automation
  • Finally, Recognizing the cost reduction methods in manufacturing industry

Who Should Attend

  • Top Management                         
  • Project Manager
  • Financial Managers                   
  • Operations Managers
  • Manufacturing Managers           
  • Planning Managers
  • Product Line Managers

Benefits of Attending

Cost Reduction in Manufacturing Industry is an alarming subject for employees as these two words make them think that they will be personally targeted. However, cost reduction is not only about laying off employees.

In cost reduction training courses, we will explore all the different strategies for the organization to reduce its costs starting with increasing productivity, then cutting costs everywhere in the organization.

Cost Reduction Training Programs for Manufacturing will offer the following benefits:

  • Firstly, Using the cost strategic control system to reduce cost.
  • Secondly, Identification of cost reduction and business improvement opportunities.
  • Thirdly, Greater awareness and control of everyday costs.
  • Define the Costs, Cost Control / Reduction process.
  • Next, Identify Cost Saving Opportunities for your Company.
  • Then, Develop Strategies & Methods for the company to attain Cost Savings.
  • Finally, Minimize inventory costs by focusing on defect prevention instead of detection.

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Training Outline

♦ Introduction to CRAs : Why CRAs

♦ The 5 Core Tools

   1. Lean Methods For Focused Cost Reduction
      – Waste Reduction in Material Handing – Arrow Diagram
      – Scrap Reduction in Human Activity – Operation Analysis Table
      – Waste Reduction in Man-Machine Interface – SOCC
      – Lean & Waste Audit Check Sheet for Manager

   2. Low Cost & Zero Cost Automation
      – Identifying 6 Different Level of Manufacturing Activity
      – Selecting the Perfect Fit Zero Cost & Low-Cost Automation
      – Example of ZCA & LCA in Industry

   3. Line Balancing For Productivity Improvement
      – Identifying the Cost Associated with Line Balancing
      – How to Calculate the Line Balancing Ratio
      – Improving Line Balancing Ratio by “Block Shift Method”
      – Upgrading Line Balancing Ratio by “Elemental Activity Method”
      – Building Line Balancing Ratio by “Independent Activity Method”
      – Increasing Mfg Flexibility with Manpower Fluctuation
      – Enlarging Mfg Flexibility with Customer Order Fluctuation

4. Manpower Cost Reduction by Focused Human Skill Improvement
  – Why Man Power Cost is Always a Major Concern
  – Common Mistakes of 3T (Time, Test, Transaction) based Skill Mapping
  – How Human Skill can Directly Relate to Productivity
  – The Fact and Figure Based Skill Mapping
  – Cost Reduction by Skill Strategies
  – Skill Level Composition Strategy
  – Quick Gain Methodology
  – The Activity-Affinity Methodology
  – Skill Variance Analysis

5. Inventory Cost Reduction by Combined Analysis
  – 7 Different Types of Inventory Analysis
  – Management Insights and Objective of Inventory Analysis
  – Conducting Combined Inventory Analysis
  – Example and Case Study

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