Best Practices for Manufacturing Cost Reduction

Date : 20 to 21 August, 2024

Time : 1340 Hrs to 1700 Hrs ( Online Mode )

INTRODUCTION

Continuous Value enrichment for all its stakeholders (Investors, Customers, Partners, Employees, Society) is the only way to be locally and globally successful. An excellent organization with its highly competent process and people do the right things better, faster and more efficiently than its competition – Cost, Quality, Delivery, Innovation.
Customers always ask for right products at right time with competitive prices.
Price = Cost + Profit. Cost = Manufacturing cost + Admin Cost + Development Cost + Sales & Mktg cost
Since Price is dictated my market and Profit is required to survive and grow, controlling and reducing cost is the best option an organization can have to be more competitive.
Reducing cost does not mean cutting corners. This approach has severe limitations and will do more harm than good in medium to long term. Instead , focus on developing a Manufacturing system that allows minimal use of resources( 4 M ) to produce defect free products in the shortest possible time with least amount of left over.
It is all the more imperative today when many organizations are struggling for profitability and Government of India is prioritizing 'Make in India' for both local consumptions and global supplies.
Keeping this in view, Indian Machine Tool Manufacturers' Association (IMTMA) is organizing a 3 Hrs online programme on Best Practices for Manufacturing Cost Reduction.

FOCUS AREAS		KEY TAKE AWAYS
Breakaway organisation Understanding Profit and Cost Elements of Cost of Manufacturing and cost reduction strategies – Raw Material, Labour and Overheads. Identification, reduction, elimination of various process wastes - 3MUs, Standing in a Circle, Waste walk. Loss Cost Matrix OEE – Overall Equipment Effectiveness Some Tools to improve Productivity - SMED, Standard Work, Line Balancing. Preventive Maintenance Autonomous maintenance Constraint Management worksheet Focused improvement – Kaizen, Kaizen event. Supply chain cost reduction, savings Problem solving Tools – Cause & Effect Diagram, 5 Why, Tree Diagram Cost of Quality - Cost of Conformance and Cost of Poor Quality Six Sigma fundamentals Improvement Project management Hidden Cost in P & L account Calculation of Financial benefits from various initiatives, improvements. Impact on P & L and Balance sheet P & L statement, strategies for Operations cost management – a company example Financial benefits during my tenure Cost reduction self-assessment What next, for implementation		Learn right strategies, practices, tools, to reduce Cost of Manufacturing to improve Profitability. Measure financial benefits from initiatives, projects Plan right initiatives, actions to reduce cost of manufacturing. Relate every action in Operations to profitability Understand how he / she as an individual professional and as an effective team leader, member can contribute to making the organization more competitive.

Fee Per Participant (Per Login)

Rs. 7500/-
+18% GST

IMTMA Members/ Micro Companies/ Individuals/ Educational Institutions / Students/ IMTMA Non Members/ Others

USD 300/-

Overseas Participants

Group Concession : 10% for 3 to 5 and 30% for 6 and more delegates being nominated from the same company

Faculty

The program shall be delivered by Mr. Shashiprakasha L S,

Mr. Shashiprakasha L S, is a Mechanical Engineer & MBA with 40 years of experience in all manufacturing functions – across Automotive, Non-Automotive (Precision Engineering, Heavy Engineering, Capital Equipment Polymer Industries). He has been a Lean Practitioner since the year 2000. He has worked as COO & CEO in multiple organizations including MNCs and reputed Indian companies, for over a decade. Having implemented Lean and ToC techniques across different Industries, he was featured in Business Today for effecting turnaround from a very difficult industry and was called 'Josh Machine'. He has authored a book titled – 'A Journey from Impossible to I'm Possible' which is under release currently. He is a good orator and has a penchant for teaching concepts through stories and anecdotes.

For Registration Contact

Yuvaraj Patil
Programme Coordinator
9834265098
yuvaraj@imtma.in

Back End Operations
9742626488
enquiry@imtmablr.com

Contact Address

INDIAN MACHINE TOOL MANUFACTURERS' ASSOCIATION
Plot 249F, Phase IV, Udyog vihar,Sector - 18,
Gurgaon - 122015

Tata no- +91-124-6463101
Tel : 0124 4014101 - 04
Fax : +91-124-4014108

REGISTRATION : Prior registration with an online advance payment is must. Number of participants is limited and will be accepted on ‘First Come First Serve’ basis. A Certificate of participation will be issued to participants.