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.