Effective Cost, Margin and Profitability Management

Summary

With increased complexity in business operations and a greater shift of resources into overhead activities, improved transparency is required regarding how costs/revenues are driven, in order to identify where the unrecognised cost reduction, margin boosting and profit-making opportunities are. This involves going beyond traditional methods and recognising that preservation and enhancement of value produced is the key to success.

Venue details:  
Chartered Accountants House, , Dublin
Start date & time:  
03 December 2019 00:00
End date & time:  
03 December 2019 00:00
Price: €0.00 
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
9.00
CPD hours:  
7.00
Speaker details
First nameLast name
John McKenzie

Description

Product type:  
CPD course
Category:  
Finance, management reporting and analysis

Who should attend

This course is suitable for those wishing to understand and exploit more advanced cost and profitability management techniques including finance directors, financial controllers, finance analysts, management accountants, operational and commercial managers and change managers in all sectors.

Course overview

  • What do we really mean by fixed cost, variable cost, overheads?
  • Lean Thinking" - Enduring cost effectiveness is an ethic, not an exercise
  • Good" cost vs "Bad" cost - combining cost reduction AND value enhancement
  • How are our costs driven…. and what drives value and waste?
  • Root cause analysis techniques to avoid "slash and burn" cost management
  • The business process view - systematic approaches to managing and minimising waste
  • More advanced cost allocation techniques to gain a more realistic and transparent view of product, service and customer profitability
  • Identifying products, services and customers that are strategically important and truly profitable (and dealing with those that are not)
  • Shared Services, Outsourcing and "Offshoring" - the answer to everything or worst nightmares (pros and cons)

Key learning outcomes

  • Introduce more transparency into their cost base
  • Understand what is adding value and where cost opportunities lie
  • Expose hidden, undesirable costs
  • Introduce a more accurate view of product, service and customer profitability
  • Make more informed cost, pricing, product and customer decisions

Speakere Bio

John McKenzie spent 30 years in F&A, manufacturing, sales, marketing & business development roles in automotive & IT sectors, now pursuing freelance lecturing, consulting and writing. In 2008, his first book, ABC/M to the Max was published & has spoken at over 400 public conferences & seminars worldwide. He specialises in planning, budgeting & forecasting, strategic planning & management, ABC/M, business partnering, cost management & performance measurement & has worked with SME's & blue chip clients.