Modern Cost Reduction, Rationalization Systems and Maximization of Profitability

Modern Cost Reduction, Rationalization Systems and Maximization of Profitability



    The importance of training courses is not only limited to professional life, as most of us think but training courses aim to transfer knowledge and practical experiences that enrich the skills of individuals and enhance their self-confidence, which contributes to the preparation of cadres which in turn contributes to the development and progress of institutions. Therefore, Strategic Vision Training Center aims to enhance the skills and experiences of individuals through the strongest training programs to keep pace with every development in the labor market.



Introducing participants to modern methods of costing and their advantages over traditional costing systems that are no longer appropriate in light of modern technologies and developments.


Who should attend?

Cost accountants, financial managers, plant managers, production managers, management accountants, financial controllers and financial analysts.

Course content:

Day one: traditional costing systems

  1. Concept and objectives of costing systems.
  2. Classification of costs in different uses
  3. Costing and accounting behavior according to performance in different activities.
  4. Building traditional costing systems and applying them to actual work environments


The second day: Value chain analysis and its role in reducing costs

  1. Value Chains Approach (Concept - Foundations - Components - Steps)
  2. Tools for measuring unit value added across the value chain

A- Methodology for estimating the value of the activity from the enterprise’s resources

B - Value index table

C- Competitors' pressure matrix

D- List the profitability of the value chain elements

  1. Using the value chain approach to reduce costs

A- Product attributes cost model

B- A model for determining the value-added of product attributes

C- Approach to exclude non-value adding elements

  1. Applied cases

Third day: ABC activity-based costing method

  1. Concept
  2. Applications of the ABC method in the industrial and service sectors
  3. The entrance to the costs based on activities ABC.
  4. Applied cases

Fourth day: Value engineering method

  1. The ingredients for business success
  2. Negative influences on workflow
  3. What is value engineering? How did value engineering begin?
  4. The main problems and reasons that led to the emergence of value engineering
  5. The economic feasibility of applying value engineering
  6. Pros and results of the application and the cons and obstacles of the application
  7. The stages of applying value engineering:
  8. How can we transfer the concept of value engineering to our production sectors?
  9. Criteria for applying value engineering studies:

Fifth day: Continuous improvement of performance as a mechanism to achieve total quality

  1. The concept of continuous improvement of performance
  2. Approach to continuous performance improvement
  3. Continuous improvement tools to reduce cost
  4. Steps for continuous improvement of performance
  5. The stages of applying the continuous improvement approach to performance
  6. Problems of applying the continuous improvement approach to performance
  7. Applied cases on companies' experiences in applying continuous performance improvement