Cost Reduction Program: 5 Strategies and 60 Tactics for Impact

Why reducing costs?
Cost Discipline is not a popular topic, but a necessary one for business management. And because costs naturally increase over time, most companies embark on periodic cost cutting initiatives to reduce expenses through headcount reduction, capital expense elimination, and project deferral. Such reactive approach is not only demoralizing but also largely ineffective, leaving most of those companies in a weaker position, with costs bouncing back and competitiveness severely eroded.
Three best practices:
To do better, we need to act early before getting into trouble, go beyond short-term containment measures, and address cost drivers at their core. This training course builds the critical skills that functional managers and business leaders need to lower the cost base and improve profitability in a significant and sustainable way.
How to improve?
As a Cost Reduction Professional, you will analyze the current structure, differentiate the strategically-critical good costs from the non-essential bad costs, quantify healthy cost-volume-profit levels using logic trees, identify cost drivers and improvement levers, and develop the Cost Reduction Roadmap. By applying the 5 Cost Reduction Strategies you will deliver significant savings in the short term and create a lasting cost advantage in the long term, while freeing up resources so they can be deployed for more productive use - ”cutting fat to build muscle”.
Conclusion:
Rather than employing the traditional cost-cutting approach, help your team or client to develop solutions that create real impact, not only by reducing bad costs and redefining requirements, but also by reallocating resources to unlock growth. Delivering quick savings, while creating a sustainable cost advantage keeps your team motivated to stay engaged on this highly profitable journey.
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[@zahedulahasan3701]

One of the best content of Cost Management.

[@morejazzmoreass4472]

This video is a 10/10 and is an essential video for anyone wanting to excel in business!!!

[@weeraonkhongwut7028]

Great lessons. Thank you so much.

[@251278vamsi]

Thank you for an excellent information on Cost Reduction Process. Will come back to it again and try apply these in my own Business. Keep up the great work👏👏👍

[@Leanmap]

Thanks for your feedback. Would be great to hear back from you, where you have applied the method and what results you have achieved. Let's stay in contact.

[@Leanmap]

Thanks for your comment.

[@stephenfyffe3112]

Loved this video

[@nomanilyas4314]

Excellent session 👍

[@Tothepoint1910]

Wow Amazing

[@Ramesh-ii6ch]

Nice lesson 👌👍👏.....

[@sunil7019]

Thank you Sir it's really helpful

[@waleedahmed7419]

❤

[@ahepm]

Thank you very much.. very insightful video

[@Leanmap]

Hi Arief, glod you found it insightful. Let me ask: are you planning to apply the concept and if yes, where?

[@aggarwalravi1]

Great

[@sauravdihingia1153]

How to reduce cost in medical sector.give some examples

[@Leanmap]

The medical sector is very broad and therefore many cost drivers to consider around direct labor (care), expert labor (diagnostics), equipment efficiency, loading vs capacity (e.g. beds), quality (defects, malpractice, delays), insurance coverage etc. As a first step, it's important to develop the cost-driver tree and then go from there. Hope this helped.

[@sauravdihingia1153]

@@Leanmap thanks for your support