Cost Reduction for Managers & Management Consultants

Cost Reduction for Managers & Management Consultants, available at $74.99, has an average rating of 4.48, with 195 lectures, based on 347 reviews, and has 3793 subscribers.

You will learn about How to conduct Cost Reduction Projects Identify quick wins when it comes to savings, cost cutting Apply the right frameworks and techniques from your management consulting toolbox Analyze investments in Excel Conduct make-or-buy analysis in practice Analyze in Excel potential improvements in Retail, FMCG on the level of McKinsey, BCG, Bain Find ways to cut cost of the business you manage This course is ideal for individuals who are Managers who want to increase the profitability of their business or Manager you want to reduce costs, cut costs or Owners of small and mid-sized businesses or Management Consultants and Business Analysts or Investment Directors or Financial Controllers It is particularly useful for Managers who want to increase the profitability of their business or Manager you want to reduce costs, cut costs or Owners of small and mid-sized businesses or Management Consultants and Business Analysts or Investment Directors or Financial Controllers.

Enroll now: Cost Reduction for Managers & Management Consultants

Summary

Title: Cost Reduction for Managers & Management Consultants

Price: $74.99

Average Rating: 4.48

Number of Lectures: 195

Number of Published Lectures: 187

Number of Curriculum Items: 195

Number of Published Curriculum Objects: 187

Original Price: $189.99

Quality Status: approved

Status: Live

What You Will Learn

How to conduct Cost Reduction Projects
Identify quick wins when it comes to savings, cost cutting
Apply the right frameworks and techniques from your management consulting toolbox
Analyze investments in Excel
Conduct make-or-buy analysis in practice
Analyze in Excel potential improvements in Retail, FMCG on the level of McKinsey, BCG, Bain
Find ways to cut cost of the business you manage

Who Should Attend

Managers who want to increase the profitability of their business
Manager you want to reduce costs, cut costs
Owners of small and mid-sized businesses
Management Consultants and Business Analysts
Investment Directors
Financial Controllers

Target Audiences

Managers who want to increase the profitability of their business
Manager you want to reduce costs, cut costs
Owners of small and mid-sized businesses
Management Consultants and Business Analysts
Investment Directors
Financial Controllers

What is the aim of this course?

Every company has to control costs in order to survive and prosper. Therefore, many firms on regular basis perform cost reduction projects. Cost reduction projects may be part of a wider Performance Improvement Project or be a standalone project carried out only in one of the business units. Those projects are extremely interesting because you will be able to make a real change, create a new reality and improve part of the business or even the whole business. There are also very difficult as you have to not only analyze areas but also find ways to cut costs, improve the current situation as well as, on some occasions, implement the change. The skills that you will learn during this sort of project will be also very useful once you move to work for regular businesses or set up your own firm. In this course, I will show you how to deliver such projects fast and efficiently. In the course you will learn the following things:

How to identify potential savings, especially quick wins
How to optimize processes
How to analyze investments
How to carry out make-or-buy analysis
How to spend less

This course is based on my 15 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, performance improvement, and turn-arounds in the biggest firms from Retail, FMCG, SMG, B2B, and services sectors that I worked for. I have carried out or supervised over 90 different performance improvement projects in different industries that generated a total of 2 billion in additional EBITDA. On the basis of what you will find in this course, I have trained in person over 100 consultants, business analysts, and managers who now are Partners in PE and VC funds, Investment Directors and Business Analysts in PE and VC, Operational Directors, COO, CRO, CEO, Directors in Consulting Companies, Board Members, etc. On top of that my courses on Udemy were already taken by more than 181 000 students including people working in EY, McKinsey, Walmart, Booz Allen Hamilton, Adidas, Naspers, Alvarez & Marsal, PwC, Dell, Walgreens, Orange, and many others.

I teach through case studies, so you will have a lot of lectures showing examples of analyses, and tools that we use. To every lecture, you will find attached (in additional resources) the Excels as well as additional presentations, and materials shown in the lectures so as a part of this course you will also get a library of ready-made analyses that can, with certain modifications, be applied by you or your team in your work.

Why have I decided to create this course?

As a manager quite often you will have to find ways to spend less and reduce costs. This is not an easy task as you will have to increase efficiency and quality at the same time. Luckily, there are a lot of techniques that will help you in a structured way look for savings that will help you improve the profits of your business. In this course, I will teach you how to find potential savings, estimate them in Excel, and how make sure that they don’t impact quality or efficiency. We will use that management consulting tools, techniques, and frameworks from top management consulting firms.

This course will help you become an expert in the field of cost-cutting, and cost reduction which will be extremely useful not only in consulting but also later on when you become a director or you move on to build your own business. By giving you exposure to real-life cases and analyses I want to improve your skills in analyzing the right things fast and implementing the improvements that you have identified. Thanks to this course, you will know what and how to do during cost-cutting projects to deliver ahead of deadlines high-quality products.

To sum it up, the course will help you become an expert in cost reduction, and cost-cutting on the level of McKinsey, BCG, Bain, PwC, Deloitte, EY, and other top consulting firms. That is why, I highly recommend this course to Managers, Management Consultants as well as Investment Directors working for PE, Directors, and owners/founders of businesses that need better to improve their profitability and prepare for scaling.

In what way will you benefit from this course?

The course is a practical, step-by-step guide loaded with tons of analyses, tricks, and hints that will significantly improve the speed with which you understand, and analyze the business considered for acquisition. There is little theory – mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. Our intention is that thanks to the course you will learn:

How to identify potential savings, especially quick wins
How to optimize processes
How to analyze investments
How to carry out make-or-buy analysis
How to spend less

You can also ask me any question either through the discussion field or by messaging me directly.

How the course is organized?

The course is divided into the following sections:

Introduction.We begin with a little intro to the course as well as some general info on how the course is organized
Cost reduction frameworks.In the second section, I will show you the main frameworks that will help you with cost reduction. We will have a look at the general framework. I will also show you the adjustments for FMCG and retail. Frameworks are great because they help you see the big picture. They also provide you with guidance on what to do to achieve your goals
Quick wins.In this section, I will show you how to identify the so-called quick wins – in other words, big savings that you can easily achieve, and implement. We will start with 2 general frameworks (80/20 and low-hanging fruits) and I will show you how we can apply them to find the projects that will generate big savings.
Process optimization in practice – Retail chain example.In the 4th section, I show you how to reduce the cost of the process in practice. For that, I will use an example of processes in a store. You will see how you should calculate the cost of the processes and what techniques you should apply to optimize processes and achieve cost reduction, and savings.
Make-or-buy analysis.In the 5th section, we will discuss the Make-or-buy analysis. You will be carrying them out after you have implemented the quick wins. They will help you find ways to further reduce costs. Make-or-buy analysis is an extremely important tool that will help you decide in a rational way what you should do in-house and what to buy
Investment analyses.A lot of money can be saved by a proper investment policy. In this section, I will show you how to analyze in practice investments aiming at reducing costs
Reduce usage.In this section, I will show you how you can cut costs by reducing the usage of certain things that your firm is using
Spend less.In the last section, I will show you how to reduce your own private spending and expenditures. These examples will help you understand and implement the general approach to cost-cutting. It will also help you reduce your own personal wealth

You will be able also to download many additional resources

Useful frameworks and techniques
List of resources useful during performance improvement projects
Selected analyses shown in the course
Links to additional presentations, articles, and movies
Links to books worth reading

At the end of my course, students will be able to…

How to conduct Cost Reduction Projects
Apply the right frameworks and techniques from your management consulting toolbox
Identify quick wins when it comes to savings
Analyze investments in Excel
Conduct make-or-buy analysis in practice
Analyze in Excel potential improvements in Retail, and FMCG on the level of McKinsey, BCG, Bain
Manage efficiently a consulting project devoted to performance improvement
Find ways to cut the cost of the business you manage

Who should take this course? Who should not?

Managers who want to increase the profitability of their business
Managers who want to reduce costs
Owners of small and mid-sized businesses
Management Consultants and Business Analysts
Investment Directors
Financial Controllers

What will students need to know or do before starting this course?

Basic or intermediate Excel
Basic knowledge of economics or finance

Course Curriculum

Chapter 1: Introduction

Lecture 1: What the course will be about

Lecture 2: A little bit about me

Lecture 3: How this course will be organized?

Lecture 4: How to deal with Blurry image

Lecture 5: How to reach additional resources

Lecture 6: How to find information and ask questions

Chapter 2: Cost reduction frameworks

Lecture 1: Cost reduction frameworks – Introduction

Lecture 2: Cost reduction framework

Lecture 3: Increasing margins framework – Retail & B2C Services

Lecture 4: How to increase the profitability for cosmetics producer – Problem

Lecture 5: How to increase the profitability for cosmetics producer – Sales Increase

Lecture 6: How to increase the profitability for cosmetics producer – Cost Reduction

Lecture 7: How to increase the profitability of a retail chain – Problem

Lecture 8: How to increase the profitability of a retail chain – Solution – Sales Increase

Lecture 9: How to increase the profitability of a retail chain – Solution – Cost Reduction

Chapter 3: Quick wins

Lecture 1: Quick wins – Introduction

Lecture 2: 80/20 – productivity hacks

Lecture 3: Low hanging fruits

Lecture 4: Quick wins for cost reduction

Lecture 5: Quick wins for cost reduction – Remarks on Pontetial Savings

Lecture 6: Quick wins in Drugstore – Case Introduction

Lecture 7: Quick wins in Drugstore – Cost Structure

Lecture 8: Quick wins in Drugstore – Cost Reduction

Lecture 9: Quick wins in Drugstore – Summary

Lecture 10: How to estimate the potential reduction in costs

Chapter 4: Process optimization in practice – Retail chain example

Lecture 1: Process optimization in practice – Introduction

Lecture 2: Introduction to in-store process optimization case

Lecture 3: Workshop – Introduction

Lecture 4: Workshop – the scope of the project

Lecture 5: Workshop – Tools overview

Lecture 6: Lean manufacturing – introduction

Lecture 7: Theory of constraints – introduction

Lecture 8: Queing problem – Introduction

Lecture 9: OEE introduction

Lecture 10: Workshop – defining metrics and cost drivers

Lecture 11: Workshop – optimizing 1 process

Lecture 12: Workshop – optimizing 1 process – Excel file

Lecture 13: Workshop – timeline of the project

Lecture 14: The store and the processes

Lecture 15: Price Change

Lecture 16: Price Change – calculation in Excel

Lecture 17: Shelf replenishment

Lecture 18: Shelf replenishment – calculation in Excel

Lecture 19: Advising customers – Introduction

Lecture 20: Advising customers – General solution

Lecture 21: Advising customers – Details and results

Lecture 22: Advising customers – Calculation in Excel

Lecture 23: Cash till and info point

Lecture 24: Other potential improvements

Lecture 25: Process cost estimation by groups

Lecture 26: Summary of all costs and savings

Chapter 5: Make-or-buy analysis

Lecture 1: Make–or–buy analysis – Introduction

Lecture 2: Total cost of ownership

Lecture 3: Car vs Uber – Introduction

Lecture 4: Car vs Uber – Cost of own car Basic

Lecture 5: Car vs Uber – Uber

Lecture 6: Car vs Uber – Comparison of costs

Lecture 7: Make–or–buy courses – Case Introduction

Lecture 8: Make–or–buy courses – Make Option

Lecture 9: Make–or–buy courses – Buy Option

Lecture 10: Make–or–buy courses – Compariosn

Lecture 11: Make it or buy it – When to make even if it is more expensive

Lecture 12: Delegating some work to others – Case Introduction

Lecture 13: Delegating some work to others – Analysis of activities

Lecture 14: Delegating some work to others – Summary

Chapter 6: Investment analyses

Lecture 1: Investment analysis – Introduction

Lecture 2: Cost reduction Investment – Retail – Introduction

Lecture 3: Cost reduction Investment – Retail – Current Costs

Lecture 4: Cost reduction Investment – Retail – Future Costs

Lecture 5: Cost reduction Investment – Retail – NPV

Lecture 6: Cost reduction Investment – Retail – Solution in Power Point

Lecture 7: Cost reduction Investment – Ceramic Tiles – Introduction

Lecture 8: Cost reduction Investment – Ceramic Tiles – Current Costs

Lecture 9: Cost reduction Investment – Ceramic Tiles – Future Costs

Lecture 10: Cost reduction Investment – Ceramic Tiles – NPV

Lecture 11: Cost reduction Investment – Ceramic Tiles – Solution in Power Point

Lecture 12: Analyzing the profitability of sales channels – introduction

Lecture 13: Analyzing the profitability of sales channels -example of audit services

Lecture 14: Analyzing the profitability of sales channels -example of selling small services

Lecture 15: How to motivate not yours sales reps – Case Introduction

Lecture 16: How to motivate not yours sales reps – Trainings

Lecture 17: How to motivate not yours sales reps – Contests

Lecture 18: How to motivate not yours sales reps – Incentive trips

Lecture 19: How to motivate not yours sales reps – Loyalty program

Lecture 20: How to motivate not yours sales reps – Summary and Comparison in Excel

Lecture 21: How to motivate not yours sales reps – Solution in Power Point

Lecture 22: Sell non–core assets – Introduction

Lecture 23: Sell non–core assets – Cosmetics – Introduction

Lecture 24: Sell non–core assets – Cosmetics – Solution for the Hotel

Lecture 25: Sell non–core assets – Cosmetics – Solution for the Kindergarten

Chapter 7: Reduce usage

Lecture 1: Reduce usage – Introduction

Lecture 2: Eliminate fully certain expenses – Consulting Firm – Case Introduction

Lecture 3: Eliminate fully certain expenses – Consulting Firm – Available Data

Instructors

Asen Gyczew
Expert in performance improvement, turnaround and startups

Rating Distribution

1 stars: 4 votes
2 stars: 3 votes
3 stars: 41 votes
4 stars: 115 votes
5 stars: 184 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!

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