Cost Reduction is philosophically the antithesis of Cost Cutting, but with the ability to get the same results that Cost Cutting achieves, spread over a longer period of time, more sustainable, and a principle that can be applied through any organisation and by anyone, including suppliers and customers. Management accountants, auditors, managers, engineers, and financial analysts alike can easily apply these principles within any sector of the economy or industry. Results are guaranteed but require time for such solutions to be able to deliver the required results, allowing a more acceptable impact on the bottom line, if this can be sustained over a reasonable period of time. This course will thus allow participants to understand:
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- The difference between Cost Reduction and Cost Cutting;
- The methodology used to deliver cost reduction;
- Why cost-cutting is more acceptable than cost reduction in some countries rather than others;
- How does cost reduction work;
- Methods and philosophy of cost reduction principles;
- Empowering others to make cost reduction;
- Creating a cost-reduction culture toward continuous improvement;
- Embedding and implementing Cost Reduction in financial management to ensure best practice.
Karl Camilleri after graduating in Electrical Engineering at the University of Malta, went to the UK to do a Masters in Business Administration at Cranfield School of Management, and a Post Graduate in Marketing, and worked in the UK for a decade. In the past twenty years, Karl has worked for a number of Corporations and Multi-Nationals, at very senior positions, both in Malta and in the UK, managing various national infrastructural multi-million dollar projects and products used by millions of customers. Karl’s expertise is based on the knowledge he has accumulated working in customer focused operations, and thus building not just the academic but also practical experience over various disciplines, namely Project & Programme Management, Strategy, Business and Operations Management, Change and Transformation Management, Risk Management, Marketing, People management, Product Management, Cost Reduction and Process Simplification and Creation. Karl is also a Member of the Chartered Institute of Management (UK), the Chartered Association of Project Management (UK), and Member of the Chartered Institute of Engineering & Technology (UK), and PRINCE 2 qualified practitioner. Karl’s experience spans over a number of industries, namely Consultancy, Construction, Telecommunications, Energy, Manufacturing, Operations, Utilities and IT, and currently works as a lecturer and as a freelance consultant.
Events resources will be sent by email after the delivery of the event.
Day 1: 17/02/2021
Start time: 14:00 CET
End time: 17:15 CET
Venue: Online Live Session
Phone: +356 27555560 / +356 77555560