Competitive Advantage Through tcm
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Economic, competitive and technological challenges are imposing significant cost pressures on profitable growth. So businesses need a holistic approach to manage their costs.
IIM B & CII’s TCM division have collaborated for a visionary initiative of strengthening ‘cost competitiveness of Indian industry’
The Total Cost Management (TCM) was conceptualized by CII and its TCM division has partnered with over 70 businesses, across multiple sectors during the last two decades, for implementation. The holistic managerial philosophy of TCM, aligned with the embedded cost economics of each business, strengthens cost measurement & analytics, enhances cost ownership and improves overall efficiency of the value chain.
The long term profitability of an organization stems from its business model, how it ensures the relevance of its value proposition to its target customers and how it maintains its competitive advantage in doing so. Competitive advantage stems from differentiation or through cost leadership. Differentiation also requires a major cost consciousness as competitors try to catch up with ‘me-too’ offerings that are usually offered at a lower price to entice buyers. Therefore, cost management is imperative for all businesses operating in competitive markets. This programme argues the case for integration TCM into the strategy of an organization.
The programme will familiarize participants to the TCM Maturity Model (TCM – MM), an IPR of CII, that will help CXOs index their business on a 5-level hierarchy of the cost maturity model. In addition, the TCM framework, TCM philosophy, TCM tools & techniques and applications in business will be covered during the programme.
TCM philosophy for institutionalized mechanism of addressing profitability challenges, driving multi-functional cost ownership, creating structural, strategic and tactical methodologies for addressing cost pressures in business
Who should attend
Head – Supply chain
Head – Marketing
Head – Operations
Head – Design
Head – Maintenance
Or any other functional head in business