Open Seminar

Driving Profitability through Strategic Cost Management

Home Open Seminars Driving Profitability through Strategic Cost Management

Programme snapshot

  • Date: 29, November, 2022 (3 days)
  • Fee: N284,500.00 (Excluding VAT)
  • Location: LBS Campus
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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

Professor Akintola Owolabi, Kayode Omoregie, Dr Francis Okoye, Mr I.A Alagbe

Testimonials

Upcoming Sessions and Contact

Got questions?

Send us a quick message, stating your questions or concerns about this programme and expect a response in a few minutes.

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