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LinkedIn Learning

Cost Reduction Tips - How To Cut Costs And Maximize Profits

via LinkedIn Learning

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Get concrete strategies for increasing your profits by reducing how much your business spends. Learn how to more effectively manage labor costs, streamline processes, and more.

Syllabus

Introduction
  • What to expect
1. What to Reduce
  • What to reduce: Introduction
  • Identify your main areas
  • Pareto: Where does all your money go?
  • Comparing cost vs. income
  • Are your customers a cost?
  • Wrap up
2. Reducing Labor Costs
  • Bad time management
  • The cost of low morale
  • Bureaucracy and how to reduce it
  • Only have brilliant meetings
  • Effective uses of management time
  • Utilization of people
  • The true cost of staff turnover
  • How to choose who to fire
  • Better alternatives to firing
  • Reorganisation: Good or bad?
  • Wrap up
3. Costs Other Than People
  • Costs other than people: Introduction
  • Stock: The hidden curse
  • Central purchasing department analysis
  • Are subcontractors a hidden money pit?
  • What is your optimum quality?
  • Effectively managing queues
  • Bottlenecks
  • Poor utilization of assets
  • The real cost of bad IT
  • The small stuff
  • Get value from marketing
  • A lack of investment can be costly
  • Your company culture
  • Wrap up
4. Top 10 Tips
  • Top 10 tips: Introduction
  • Top 10 things to measure
  • Top 10 action to take
Conclusion
  • Congratulations

Taught by

Chris Croft

Reviews

4.7 rating at LinkedIn Learning based on 242 ratings

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