Cost Reduction and Profit Improvement Strategies

20-21 Mar, 2023, Remote Online Training - Public

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Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior
executives) from the National University of Singapore and a PhD in international finance with
Rushmore University of USA.

 

Dr Liew had worked in private sector companies, ranging from family-run businesses to
professionally managing multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years’ working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF
Finance & its related group of companies over the 10 years period.

 

He is a registered Trainer with the Government Human Resources Development Berhad
(Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination.

 

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd, Sony Malaysia Sdn Bhd, Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd;
Bridgestone Chemical Products (M) Sdn Bhd; Dialog Group Bhd; SEDCO, KK; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd

 

He is currently providing management consultancy and training specializing in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost
reduction, credit management & loan recovery.

 

WHAT YOUR COLLEAGUES ARE SAYING ABOUT THE COURSE…
“What I enjoyed from this cost reduction program is Dr Liew sharing on his real experience; Cost saving method & Case Study”: HR Manager, Hock Seng Lee Concrete

 

“Thank you, Dr Liew, for guiding us in cost reduction on how to look out for cost reduction areas and the approach to implementation”: Assistant General Manager; Sarawak Produces Industry Co

 

“I really appreciated Mr. Liew imparting his Real-life story of actual application of cost reduction strategies & many case studies”: Plant Controller; Ceramica Indah Sdn Bhd

 

“The case studies and exercises that are most practical & relevant to me are story of Automobile cost reduction; Cost Reduction/Turnaround case studies; Johnson- Relates to Speaker Personal experience – Soft landing skill”: Purchasing Executive; Ceramica Indah Sdn Bhd

Venue Details

Remote Online Training - Public

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Module 1: Cost Reduction Success Story
  • Module 2: Managing Costs
  • Module 3: How To Monitor Your Sales, Costs & Collection
  • Module 4: Improve Cash Flow & Profitability Position
    (Practical Case Study)
  • Module 5: Sensitivity & Scenario Analysis
  • Module 6: Managing P&L & ROI (Simulation Exercise)
    • Module 7: Cash Flow Statement (Simulation Exercises)
  • Module 8: Turn-around The Company- Case Study
  • Module 9: Cost Management (Case study

SPECIAL FEATURE: Participants Will Receive a Set of Practical Templates suitable for all sectors.

OVERVIEW

To be effective, reduce costs & increase profit, you need to have the heart of an entrepreneur. This course will help to provide you with an environment that stimulates initiative-taking behavior to achieve greater goals for yourselves and your organization.

By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic business cases will be analyzed, and scenario solutions will be provided under the guidance of Dr. Steven Liew.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Manage Your Profit & Loss, ROI & Cash Flow Position
  2. Managing Materials, Labour & Overheads Costs
  3. Strategizing On Turnaround The Company
  4. Applying Procurement Negotiation Strategy
  5. Learning From The Success Story Of Reputation Organization.
  6. Formulating The Cost Reduction Strategies For Your Organization Costs
  7. Performing Business Forecasting & What-If Analysis
WHO SHOULD ATTEND
Entrepreneurs, Bankers, Accountants, Business Managers, Marketing Managers & Supervisors
METHODOLOGY
Case Study & Group Discussion. Real-current problematic business cases will be analysed, and scenario solutions will be discussed within the course.
DAY 1
9:00

MODULE 1: COST REDUCTION SUCCESS STORY

  • How to target saving for your organization
10.45

 MODULE 2: MANAGING COSTS

  • Direct Material Cost
  • Labour Costs
  • Overhead Costs

 

12.00

MODULE 3: HOW TO MONITOR YOUR SALES, COSTS & COLLECTION

  • Define your sales projection, factor in fluctuation (q1, q2, q3 & q4)
  • Do your monthly average sales & expenses
  • Used three estimate techniques (2+10, 5+7, 8+4) and also use SMART (specific, measurable, achievable, realistic & timebound)
  • Make sure your budget is always relevant during the year

 

1:00 Lunch
2:00

MODULE 4: IMPROVE CASH FLOW & PROFITABILITY POSITION (PRACTICAL CASE STUDY)

  • Applying what if analysis (goal seek & solver)
  • Applying profitability strategy management framework
    - Formulation stage
    - Execution stage
    - Evaluation stagei 

 

3:45

MODULE 5: SENSITIVITY & SCENARIO ANALYSIS 

  • Sensitivity Analysis
  • Scenario Analysis & Planning
  • Gantt Chart (Project scheduling)

 

5:00 End of Day 1
DAY 2
9:00

MODULE 6: MANAGING P&L & ROI (SIMULATION EXERCISE)
OBJECTIVE:

  • with little or zero knowledge, will walk you through your business or new business on sales, purchases, operating expenses, investment, capital injection, depreciation & interest payment. • you see your own P&L, Balance sheet, cash flow & equity.
  • provide strategies (using goal seek) to improve your cash flow & P&L position


10.45

MODULE 7: CASH FLOW STATEMENT (SIMULATION EXERCISES)
OBJECTIVE:

  • You will learn why you fund increase or decrease.
  • What are the causes: operational, investing, or financial driven?
  • Using goal seek will improve your cash flow position.

 

1:00 Lunch
2:00

MODULE 8: TURN-AROUND THE COMPANY- CASE STUDY

  • Asset conversion (conversion of assets to cash or profit)
  • Collection (Focus on collection & debt recovery)
  • Cost reduction (review all aspects of costs drivers)
  • Revenues (review all aspect of revenue drivers)
  • Purchasing policy (focus on top five key suppliers; focus on fast moving items etc.)

 

3:45

 MODULE 9: COST MANAGEMENT (CASE STUDY)

  • Outsourcing or Make-or-Buy Decision
  • Decision to Add or Drop a Product, Service, or Business Unit
  • Relevant Costs of Replacing Equipment
  • Pricing Decisions
  • Break even analysis (BEP)

 

5:00 End of Course