In this course we examine how close management of costs can drive your profitability. Although most businesses can uncover wastage to reduce costs, managing costs is finding the balance between reducing costs whilst maintaining the quality of products and services. We start with a brief overview of key costs areas: suppliers, finance, premises and production. This leads to a conversation about activity-based costing analysis to effectively find out the real cost of specific business activities. Then we explore the importance of reviewing your supplier base regularly to reduce raw material costs and supply chain efficiencies without reducing quality.

This course serves to examine how to cut waste throughout the business, to increase effectiveness and reduce inefficiency.

Learning Objectives
  • Explore the key costs areas: suppliers, finance, premises and production to uncover wastage to reduce costs whilst maintaining the quality of products and services.
  • Identify how to effectively find out the real cost of specific business activities through the use of activity-based costing analysis.
  • Discover the importance of reviewing your supplier base regularly to reduce raw material costs and supply chain efficiencies without reducing quality.
Last updated/reviewed: August 7, 2023

Included In Certifications

This course is included in the following Certification Programs:

8 CoursesImproving Productivity and Profitability Certification

  1. Introduction to Improving Productivity and Profitability
  2. Uncovering and Managing Costs
  3. Reviewing Products and Price
  4. Effectiveness and Cutting Waste
  5. Selling to Profitable Customers
  6. Tool kits and Techniques for Expansion and Development
  7. Boosting Productivity and Competitiveness
  8. Planning for Change and Growth
1 Review (7 ratings)

Reviews

4
Member's Profile
Good course, would have liked to have more take-away notes on the narrative from the slides, instead of just the questions/discussion topics.

Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Uncovering and Managing costs1:03
  Key Concepts10:18
  Key Cost Areas18:10
  Uncovering Real Costs7:28
  Reviewing the Supplier Base9:07
  Conclusion1:30
CONTINUOUS PLAY
  Uncovering and Managing Costs47:36
SUPPORTING MATERIAL
  Slides: Uncovering and Managing CostsPDF
  Uncovering and Managing Costs Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam