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Strategic Costs Monitoring & Control

Strategic Costs Monitoring & Control
November 10, 2020
Sandton, 138 Rivonia Rd, Sandown, Sandton, 2196 Get directions

1. Introduction
 Cost Control Vs. Cost Containment
 Case for Cost Control
 Managing Cost Control

2. Cost Reduction Strategies
 Cost Savings & Cost Containment
 Cost Avoidance & Value Enhancement

3. Strategic Consideration of Cost Control
 Levers to Profitability
 Profitability Challenges
 Cost Reduction Opportunities
 Cost Reduction in the face of Downturn

4. Profitability Challenges
 Increased Costs
 Stagnated Revenue
 Increased Capital Costs

5. Cost Reduction Opportunities
 Across the Value Chain
 Enterprise-Wide Opportunities
 Asset Management Opportunities
 Function-Specific Opportunities

6. Practical Implementation of a Monitoring & Cost Control System
6.1 Which Costs to Focus On?
 Identify Major Cost Centers
 Identify Major Costs within Cost Centers
 Choose Costs to focus on

6.2 Systematic Cost Control Procedures
 Start from Your Business Objectives
 Establishing Standards Costs
 Establish Realistic Budget Costs
 Actual Costs Vs Budgets
 Periodic Review

6.3 Personnel Involvement
 Clarify Responsibilities
 Involve Employees in Cost Control
 Involve your Customers and Suppliers

7. Easy Savings & Opportunities
 Eliminate Unnecessary Costs
 Crack-down on Excessive Costs
 Root Out Inefficiencies
 Reduce Payroll Costs
 Find Ways to make Production more Efficiency
 Get the Most out of your Premises
 Cut Communication Costs

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