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Business Cost Management, Procurement & Tendering
Rating: 4.4 out of 5(95 ratings)
268 students
Created byTim Lawson
Last updated 4/2020
English

What you'll learn

  • What 'cost' in a business or organisation is and how to manage it
  • How to reduce costs using a structured methodology
  • The principles of good ongoing cost management
  • What procurement is and how it can help your business
  • How to run a basic tender process which will deliver lower costs
  • Strategies for reducing costs and ideas of which costs to cut

Course content

5 sections • 35 lectures • 2h 4m total length

  • Introduction & Course Overview5:14

    Brief introduction and overview of the course subjects.

  • What is Cost Reduction?6:56

    This lecture covers the basic concept of Cost Reduction and why it is important to a business.

  • Sources of Cost6:03

    Understand what is 'cost' and where is it in a business.

  • Why are costs so high?8:41

    Explore reasons why costs may be too high.

  • Why use a methodology?5:21

    Understand why a structured methodology can help with cost reduction and management.

  • Overview of the Cost Reduction Method3:22

    A short overview of the Cost Reduction Method, a proven methodology for reducing costs in a business or organisation.

  • Achieving success using the Method5:17

    Understand how your business can be successful in reducing costs by using the Cost Reduction Method.

  • Action planning: Cost Reduction Method0:33

    Your action plan based on the Cost Reduction Method.

  • Cost Reduction strategies4:05

    An introduction to the strategies used to reduce and manage costs in a business.

  • Real examples of cost reduction strategies1:53

    Building on the learning in the previous lecture, see some real life examples of cost reduction strategies being used.

  • Action planning: Strategies for Cost Reduction0:25

    Your action plan for cost reduction and cost management strategies.

  • Quiz: Cost Reduction
  • Reading: Reducing Business Costs0:31

    Set reading of the short ebook 'Reducing Business Costs in 8 Proven Steps'.

Requirements

  • There are no prerequisites, just a willingness to learn!
  • No prior knowledge of the subjects covered is required
  • It will be useful if you have a role in a business or organisation where you can put the learning into action
  • Some of the PDF resources provided are printable
  • Some of the templates provided are in Excel or Word format

Description

A course which provides a structure for management of costs in a business or organisation. It includes the tools and techniques needed for setting up a basic procurement approach and a process to run tenders to achieve low ongoing costs.

Based on the proven Cost Reduction Method, this step by step guide will ensure that effective cost management becomes a day-to-day activity.

The course starts with an introduction to cost reduction and provides a methodology to reduce costs in a business or organisation. This will help you quickly get started and deliver some benefits to your business.

The wider subject of cost management is then covered including the 'softer' side such as leadership and culture. You will learn how company policy and processes can inadvertently lead to higher costs. This holistic approach to managing costs has been proven to deliver lower costs in businesses and organisations.

The course then covers procurement, explaining what benefits a basic approach can bring and highlighting the skills needed.

Finally, you will learn an easy to understand process for running a tender. This will enable you to deliver lower costs in your business by leveraging a competitive approach.

The course is designed to be easy to understand and delivers a lot of learning in a short compact format. It seeks to make best use of your time so that you can get on and deliver the benefits to your business.

After this course, you will be able to deliver ongoing low costs in your business or organisation. The tools, techniques and resources can be used time and time again throughout your career. The templates are all consultancy quality and are worth the cost of the course on their own!


Tim Lawson is a hugely experienced consultant and international speaker. He has been delivering and teaching Cost Reduction and Cost Management to businesses and organisations for over 20 years.

Tim has a knowledgeable and practical teaching style which is based on many years of actual delivery of projects in businesses across various industries.


Summary of Contents

  • What is 'cost reduction'?

  • Using the Cost Reduction Method

  • Why are costs so high?

  • Cost reduction strategies

  • Cost management overview

  • The impact of leadership and culture

  • Management of costs through policy and process

  • Procurement

  • Tendering


This course comes with a 30 day money back guarantee

Who this course is for:

  • Business managers who want to reduce and manage costs in their organisation
  • Anyone who is responsible for expenditure and would like to be able to control it better
  • Team leaders, supervisors and managers who wish to develop their management skills
  • Owners and directors of small and medium businesses who want to cut and manage their costs
  • Suitable for non-profit and public sector organisations as well as commercial businesses

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