COST MANAGEMENT AND PROFIT IMPROVEMENT STRATEGIES

Cost management and profit improvement strategies training in Kuala LumpurDownload Brochure HERE

Training Date :
12th – 13th October 2017
7th – 8th December 2017

Download Registration form HERE

 

INTRODUCTION

As a business entity, we are constantly looking at managing our Cost in order to optimize our bottom line. Cost Management is not only the Financial Management function, but it involves every levels of employees as well as departments.

This “Cost Management and Profit Improvement Strategies” training will equip you with the tools for improving productivity and efficiency to enhance the profitability and cash flow of your organisation.

 

LEARNING OUTCOMES

At the end of the “Cost Management and Profit Improvement Strategies” training, participants will be able to :

  • Identify key issues that is affecting their business / operations
  • Make aware of Cost Management Techniques at all level of Management
  • Understand the need for an effective Sales Strategy for the survival of the business
  • Identify areas to improve the organisation Cash Flow
  • Turn waste into profit
  • Saving Cost through Strategic Purchasing Functions
  • Know when operating costs is overrun
  • Simplify and reduce the paperwork costs

 

WHO SHOULD ATTEND

  • Entrepreneurs
  • Directors
  • Business Managers / General Managers
  • Financial Controllers / Accountants
  • Departmental Managers and Supervisors
  • Engineers
  • Budget Holders who are responsible for their respective cost

 

METHODOLODY

This “Cost Management and Profit Improvement Strategies” training methodology will be a mixtures of Presentations, Interactive Group Discussions, Case Study and Games.

COURSE CONTENT

Module 1 : COST MANAGEMENT TECHNIQUES

  • What are the key business issues?
  • Factors affecting the survival of a business
  • When to conduct Cost Management Review
  • Organizing an Effective Cost Reduction programme and its benefits

Module 2 : SALES COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • How Sales / Turnover affecting the bottom line of the organization?
  • Factors affecting the Sales Trend
  • Sales Planning and Scheduling
  • Common issues affecting sales
  • Building a sustainable business

Module 3 : INVENTORY COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • Categories of inventory
  • Why inventory is so critical for the survival of a company?
  • The importance of an effective Inventory Management System
  • What are the waste elements in Inventory?
  • Capturing Inventory costs
  • Case Study

Module 4 : PROCESSING COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • Meaning of processing and movement of Inventory
  • Factors contributing to the processing costs
  • Factors contributing to the movement costs
  • How to detect abnormality in processing and movement of inventory?

Module 5 : PURCHASING COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • What is purchasing major roles and responsibilities?
  • An Effective Purchasing Policies
  • Uncovering Profit opportunities in Purchasing functions
  • Areas to look for in Purchasing Cost Management and Improvement

Module 6 : OPERATING EXPENSES COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • Why it is important to perform a Cost Review Programme for Operating Expenses?
  • What are the major Operating Expenses?
  • Categories of Expenses relating to Maintenance
  • What is Productive time and Non-Productive time?
  • Elimination of Plant Waste

Module 7 : PAPERWORK COST MANAGEMENT AND IMPROVEMENT STRATEGIES

  • What will a paperwork analysis and review programme do for you?
  • Features in the techniques
  • Typical Cost distribution
  • Cost Review checklist
  • Document Value Analysis
  • Case Study

Module 8 : CONCLUSION

  • Formulate your Cost Management Problem
    • High Production Cost
    • High Reject Cost
    • Cash Flow Issues
  • Risk Mitigation
    • Analysing potential risks
    • Mitigating controls
    • Weigh the financial impacts
    • Cost – Benefit Decision analysis

FACILITATOR

Mr. Arthur Tay 

Associate Member of Chartered Management Accountant – ACMA (UK)
Chartered Accountant (Malaysia) – CA (Malaysia)
Chartered Global Management Accountant – CGMA
Competent Toastmaster – CTM
Competent Leader – CL

Mr. Arthur Tay has more than 30 years of combined working experience from sectors as diverse as manufacturing, commerce and the service industry. Mr Tay has held several positions in his career and has been with several leading companies – KFC Bhd, Diners Club International, GE USA where he held senior management position.

Other than the Finance, Auditing, Taxation and General Management, he has gathered vast experience in matters related to Manufacturing cost management, product costing and conducting cost reduction programmes.

Arthur is a Chartered Accountant by profession. He is an associate member (ACMA) of the Chartered Institute of Management Accountants (CIMA), UK and a member (CA) of the Malaysian Institute of Accountants (MIA).

He is a past President of CIMA Johor. He is also the past President of CIMA JB Toastmasters Club.

Arthur is also a Certified GST Consultant / Trainer having completed the Royal Malaysian Customs Department GST training and passed its examination. He is a prolific facilitator/trainer for GST workshops and as well as in-house training for corporations. He is also a regular speakers in the seminars organized by the public and private organizations.

Course Fees & Registration

FEE PAYABLE PER PARTICIPANT :

Normal Price                                          : RM1,688

Early Bird (15 days before event)       : RM1,588

Group Discount (>2 participants)       : RM1,388

Fee includes course materials, lunch, 2 tea breaks per day and Certificate of Attendance (upon completion of the training).

Download our Registration form Here and sent it to us by

Fax : +603 5523 2827

Email : sales@wanfahprosper.com

CANCELLATION / TRANSFER

Upon registering, participant(s) are considered successfully enrolled in the event.  Written cancellations / transfer notice (substitution or to later dates) received :

  • More than ten (10) working days before the event, a refund (less administrative charge of 15%) will be made
  • Ten (10) working days or less before the event, no refund will be made.
  • For no show on the day of the event, full payment is required. If you cannot attend the event, you can nominate a substitute at any time without payment of an administration fee.
  • A full (100%) refund may be granted if the course is cancelled by Wanfah Prosper PLT (WFP). WFP reserves the right to postpone or cancel the event and / or change facilitator at any time should circumstances beyond its control arises. WFP also reserve the right to make alternative arrangements without prior notice should it be necessary to do so.

Payment

Please make cheque payable / direct credit to :WANFAH PROSPER PLT

Accounts Number : 3812930508

Bank : Public Bank Berhad

DATA PROTECTION

Personal Data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709)