Who should attend
This seminar is ideally suited to those involved in contract negotiations as well as those responsible for improving their organisations’ operational results. Sales and marketing personnel will also benefit by understanding their costs and providing better solutions to key customers.
About the course
Whether an organisation is for profit or not-for-profit; or, it is pursuing a single or triple-bottom line agenda, a common driver of success on a sustainable basis is an effective and efficient cost management system. Cost is said to be a reflection of choices that we make.You cannot manage what you don’t know.
This programme offers to widen and deepen your knowledge of cost management from a strategic perspective
Key Learning Objectives/ Benefits
Participants on this programme will:
- Understand the linkage between your business strategy and cost management strategy
- Obtain, understand and apply a set of cost management tools
- Gain an understanding of the cost structure of the goods and services procured
- Distinguish between price and cost management
- Identify data sources for building cost models
- Learn to apply cost models effectively in negotiations
- Use Price Discipline in long-term contract negotiations
- Learn to apply Total Cost of Ownership (TCO) principles in sourcing decisions
Fundamentals of Strategic Cost Management (SCM)
- Value Chain Analysis
- Strategic Positioning Analysis
- Revenue and Cost Driver Analysis
- SCM Case Study
- Industry cost profiles
- Product should-cost models
- Service should-cost models
- Case study: Product or service should-cost
- Process-based should cost models
- Case study: Process should cost
Cost Models and Costing Systems
- Price Discipline (dynamic cost models)
- Case Study: Price Discipline (product/ service)
- Total cost of ownership (TCO) models
- Case Study: TCO (product/service)
- Rationale for Selecting a More Refined Costing System;
- ABC vs. Simple Costing Schemes;
- Case study: ABC vs. Simple Costing Schemes;
Dr. Owolabi teaches, undertakes research and consults in areas which include financial modeling, corporate financial accounting, strategic cost management, taxation and environmental accounting. Having studied electronic/electrical engineering at Obafemi Awolowo University where he graduated wit...
Кayode is a Faculty in finance and strategy at the Lagos Business School. He was formerly the Academic Director of the International Management Programme (IMP), inaugural chairman of the Assurance of Learning (AOL), Committee and deputy chairman of the Curriculum Development and Assurance of Lear...
Dr Okoye is a full-time faculty in the department of Accounting at Lagos Business School, an experienced research consultant with a demonstrated history of working in the research industry. He obtained his Bachelor’s degree in Accounting and a Bachelor’s degree in Economics & Statistics from...
Read more about Negotiations
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.