Overview
Whether an organisation is for profit or not-for-profit; or, it is pursuing a single or triple-bottom line agenda, a common driver of success on a sustainable basis is an effective and efficient cost management system. Cost is said to be a reflection of the choices we make.
This programme offers to widen and deepen participants’ knowledge of cost management from a strategic perspective.
Learning Objectives and Benefits
At the end of this programme, you will be able to:
- Understand the linkage between your business strategy and cost management strategy
- Obtain, understand and apply a set of cost management tools
- Gain an understanding of the cost structure of the goods and services procured
- Distinguish between price and cost management
- Identify data sources for building cost models
- Learn to apply cost models effectively in negotiations
- Use price discipline in long-term contract negotiations
- Learn to apply Total Cost of Ownership (TCO) principles in sourcing decisions
Who should attend
This seminar is ideally suited to those involved in contract negotiations as well as those responsible for improving their organisations’ operational results. Sales and marketing personnel will also benefit by understanding their costs and providing better solutions to key customers.
Structure and Curriculum
Fundamentals of Strategic Cost Management (SCM)
- Value Chain Analysis
- Strategic Positioning Analysis
- Revenue and Cost Driver Analysis
- SCM Case Study
Cost Analysis
- Industry cost profiles
- Product should-cost models
- Service should-cost models
- Case study: Product or service should-cost
- Process-based should cost models
- Case study: Process should cost
Cost Models and Costing Systems
- Price Discipline (dynamic cost models)
- Case Study: Price Discipline (product/ service)
- Total cost of ownership (TCO) models
- Case Study: TCO (product/service)
- Rationale for Selecting a More Refined Costing System;
- ABC vs. Simple Costing Schemes;
- Case study: ABC vs. Simple Costing Schemes;
Admission process
1. Click on the Apply Now tab
2. Select the number of participants to enroll on the programme
3. Fill in your details to complete your application
4. Request for an invoice or make an instant payment via our secured payment gateway
5. Upon confirmation of payment, a programme manager will get in touch with you at least three days before the programme commences.
Faculty
Akintola Owolabi is a Professor of Cost and Management Accounting at Lagos Business School, Pan-Atlantic University, Lagos, Nigeria. He started his career with the audit unit of PriceWaterhouseCoopers, and later moved on to the University of Ilorin where he was a Senior Lecturer. He serves on the editorial board of ICAN Journal of Accounting and Finance, with responsibility for maintaining the quality and standards of accounting in Nigeria in line with global standards. Professor Akintola is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and an Associate of the Chartered Institute of Taxation of Nigeria (ACTI).
Kayode Omoregie is a Faculty in finance and strategy at the Lagos Business School. He was formerly the Academic Director of the International Management Programme (IMP), inaugural chairman of the Assurance of Learning (AOL), Committee and deputy chairman of the Curriculum Development and Assurance of Learning Committee. He has over 25 years of experience in audit, taxation, business advisory, corporate finance, corporate restructuring and insolvency practice, across various industries and with various firms, including Arthur Andersen (now KPMG Professional Services), Kiwi Nigeria Plc., (A Sara Lee Chicago Company), and Chartered Aluminium Plc., where he was the Finance Director. He has also served in executive and non-executive capacities on the board of directors of some corporations in Nigeria. He was the founding and senior partner of Osaretin Omoregie & Co (Chartered Accountants) and the CEO/ Principal Consultant of Resource Edge Advisory Partners, a Corporate Finance, Strategy and Performance Advisory firm.
Dr Okoye is a full-time faculty in the department of Accounting at Lagos Business School, an experienced research consultant with a demonstrated history of working in the research industry.His core area of research interest includes forensic accounting (financial statement fraud) and financial reporting. He facilitates sessions in corporate financial accounting, cost and management accounting as well as quantitative method in Business in the full-time MBA, Executive MBA, Modular Executive MBA, as well as custom programs.
In addition to teaching, Francis also engages in consulting activities. His consulting activities have included: Financial Modeling, Business Plans, Data Analytics and Business Intelligence for various firms.
