Decreasing Operating Cost is a constant necessity for all businesses, especially since the pressure of competition no longer allows companies the luxury of dealing only with costly wasteful practices, but compels them to take immediate action to improve performance in each and every area of activity. All costs must be reviewed as to the extent to which they are necessary and yield benefits for the company. At the same time, profit loss areas should be identified, as certain costs, necessary though they may be under current operating conditions, can be easily eliminated, if processes are reorganised using modern tools. Although, normally Cost Cutting in a business should be part of an overall Strategic Planning process within the framework of an integrated Business Plan, it can nevertheless be implemented as an independent In-company Organisation Project within a global Cost Cutting Programme targeting all corporate activities.

Course Content


  • Budget structure
  • Basic cost approaches
  • Activity Based Costing


  • Secretariat Operation – File Management
  • Purchases – Supplies
  • Product – Services Design
  • Production Wastage – Product Quality
  • Plant Planning and Production Technology – Maintenance
  • Labour Cost – Personnel Management * General Expenses (Cost of Vehicles – Energy – Telephones)
  • Administrative Expenses – Office Work – “The Paper Reign” – Security
  • Sales Expenses – Transportation – Distribution
  • Product Returns
  • Forwarding– Promotion – Advertisement – Expenses
  • Warehouse Operation – Supplies
  • inancial Operations – Accounting – Loans – Working Capital
  • Information technology – Senior Management

Fixed Assets Investments – Changes – Innovations


  • A 300-point list for cost reduction
  • Budget – Break-even Point Analysis
  • Selection of Financing solutions
  • Stock Reduction Techniques
  • Process Improvement Techniques
  • Programming and Production Batches
  • Outsourcing – Teleconferencing Tools
  • Specialised, Tools with practical applications:

               – Value Analysis -Cause and Effects
– Brainstorming
– Pareto Analysis
– Statistical Process Control (SPC)
– Time and Method Studies
– Linear Programming
– The Process approach in cost reduction
– Control of Budgeted Expenses and Cash Flow through Excel spreadsheets
– Forms and Software Support for cost reduction


  • Designing a Cost Reduction Program
  • Determining critical points in Cost Reduction Projects
  • The role of Personnel – Administrative Support

  • General Managers & Senior Executives
  • Managers / Heads of Production, Financial Services, Purchasing, Marketing, Human Resources


This seminar is aimed at providing participating business and organisation executives with cost-cutting essentials – both theoretical and practical – that will allow them to:

  • Identify the areas of activity where drastic operational cost reduction is required.
  • Organise and implement cost reduction as an Operating Project with measurable results.

Seminars material includes:

  • “Cost Cutting” manual including Case Studies and solutions (hardcopy)
  • Complete seminar presentation
  • Critical Point Management Software for Cost-cutting Projects
  • Excel spreadsheets for Discount Evaluation, ABC Analysis and Control of Budget Expenses
  • Free consultancy services on the seminar topic, for an entire year, available trough our website

Nicholas J. Michaloliakos

Nicholas J. Michaloliakos

Chem. Eng., top manager in large international companies for 20 years, Managing Director of Advanced Quality Services Ltd, a management consulting company specialising in strategy that has participated in more than 300 integrated reengineering projects.
Live Online Training
Date: 2023
Venue & Hall: E-learning,
Participation Fee 420 €
Participation Form
Discount analysis:
10% discount for the 2nd participation, and
20% discount for the 3rd and every subsequent.
Participation Fee 420 €
Participation Form
Discount analysis:
10% discount for the 2nd participation, and
20% discount for the 3rd and every subsequent.

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