An important aspect of cost management in our workshop is the strategic focus. By strategy we mean the long-term plan the organization has developed to compete successfully. Most organizations strive to achieve a competitive edge through the execution of a specific strategy. For some firms it is low cost, and for others it might be high quality, customer service, or some unique feature or attribute of its product or service. We know in these competitive times that an organization does not succeed by being ordinary. In contrast, it develops a strategy that will set it apart from competitors and ensure its attractiveness to customers and other stakeholders into the future. The role of cost management is to help management of the organization attain and maintain success through strategy implementation. Thus, for every major topic covered in our session there is a larger issue, which is: \u201cHow does this organization compete? What type of cost-management information does it need?\u201d We do not cover a cost management method simply to become proficient at it. We want you to know why, when, and how the technique is used to help the organization succeed. In order to be an effective reduce cost, you need to have the business analytical skills. In this seminar, you will learn to formulate cost reduction strategies and position your organization to negotiate from strength. Business Analytical skills will enable to reduce procurement, labor & overhead cost.<\/p>\n","protected":false},"excerpt":{"rendered":"
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