Master Team-Driven Cost Management! Begin optimizing product costs now!

Get INSTANT access to Manage Your Product Costs As A Team including:

• (16) video based lessons.
• (12) downloadable presentation pdfs
• (3) Inline Quizzes
• 3 PDH (Professional Development Hours)
• Certificate of Completion
• Immediate and 1 Year Access

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What You Will Learn

• Maximize Your Margins
• Minimize Product Cost.
• How to achieve cost reductions of 10-30%
• Using your whole team to reduce cost.
• How to find suitable candidates and source in Low-Cost Countries
• Selecting Suitable Product Candidates for Cost Reduction

Course Description

Master product cost management while delivering exceptional customer value with Manage Product Costs As A Team. This dynamic course unites procurement, operations, engineering, and quality professionals, offering accessible training for all experience levels—no prior expertise required. You’ll learn to collaborate across teams to identify cost drivers, eliminate wasteful elements, and design products that meet customer needs without inflating costs. Through practical examples, such as optimizing component designs for specialized equipment, you’ll see how teamwork reveals cost-saving opportunities that individual efforts often miss. The course provides hands-on tools to evaluate and prioritize cost reduction ideas, ensuring your team focuses on strategies that enhance profitability while maintaining quality. Expert guidance helps you align cost efficiency with customer satisfaction, creating products that stand out in the market.

This course empowers you to drive meaningful change in your organization through collaboration. You’ll explore how to establish systems that promote teamwork, such as appointing a rotating cost reduction leader to keep initiatives inclusive and dynamic. Learn how procurement can secure cost-effective suppliers, operations can optimize processes, and engineering can refine designs with cross-functional input. The course emphasizes tracking progress and reporting to leadership, ensuring your efforts deliver lasting results. By focusing on customer-centric solutions, you’ll create products that meet market demands while improving efficiency. Whether you’re a design engineer, operations manager, or quality professional, Manage Product Costs As A Team equips you to contribute to a cost-conscious culture. Enroll now to start your journey toward smarter, team-driven cost management and make a significant impact on your organization’s success.

Course Outline

Section 1 - Introduction

• Welcome

Section 2 - Understanding Cost

• Why is Cost important
• What are the components of Cost?
• Cost Breakdown Example
• Variable and Fixed Costs

Section 3 – Reduce Cost with Effective Sourcing

• Sourcing Introduction
• Select Partners Rather than Vendors
• Procurement in Other Countries
• Process Selection
• Make vs. Buy Decisions

Section 4 – Implementing Cost Reduction within Your Organization

• When does Cost Reduction have the greatest impact?
• How to Identify on which Products to reduce Cost
• First Address the Low Hanging Fruit
• Make Cost Reduction a Habit