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Shrinking bottom lines and declining profit margins have made it imperative for organisations to manage costs. Organisations are aggressively looking for opportunities to minimize costs without impacting the product/ service quality or market positioning. This programme offers a unique approach for managing costs by improving visibility over product cost structures and business processes. The latest concepts minimizing costs such as Activity-based costing, target costing and benchmarking will be comprehensively covered with a practical orientation.
The objective of the programme is to enable the participants to develop skills in formulating a cost minimization strategy by applying the latest concepts. The programme also provides participants the tools for analysis of the costs across the value chain. Participants will also learn to identify ways of redesigning activities and processes to improve productivity and increase value. The programme provides a discussion of the implementation issues in applying the latest techniques for cost management and integrates a broad range of examples from both manufacturing and service sectors. Participants will also develop action plans based on the concepts presented in the class.