Best Practices for Manufacturing Cost Reduction
Date : 20 to 21 December, 2024 Time : 1330 Hrs to 1700 Hrs
Location / Mode : Online
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.
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- 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
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- 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.
This Program will be conducted byMr Subrata Mitra Majumdar
Subrata Mitra Majumdar, is a Management and Operational Excellence Consultant and a faculty of IMTMA. He is a Mechanical Engineer from Bengal Engineering College, Shibpur", Calcutta in 1986, Six sigma Master Black Belt, Lean Black Belt,TQM trained in Japan.
He has about 33 years of regional and global experience in multiple executive roles in Business management, Profit & Loss Management, Strategy, Operations, Quality ,Safety and Environment Management, Supply Chain , New Product Development, Enterprise Operating system deployment, Operational and Business Excellence.
He has worked with both Indian and MNCs like Anand Automotive, ABB, Saint Gobain, TATA Autocomp, Kennametal and YG1. Some of the key positions held in his career are Corporate Quality and Operational Excellence head in TATA Autocomp( Multiple BUs ), Asia Pacific Operational Excellence head ( for all functions : 20 plants and Regional offices in 12 countries in Asia Pacific ) in Kennametal, Group VP ( 4 diverse SBUs ) in Birla Precision, Global Mfg Improvement head & Managing Director in YG Cutting Tools India Operations.
Conducted training in India and outside – China,Singapore, Thailand, Malaysia, Japan, Korea, Taiwan, Australia, Israel, Germany. Trained more than 3200 people so far in last 20 years. Trained all levels of people – Top, middle, junior management and workmen. Led, coached, mentored more than 2000 improvement projects that have generated financial benefits ( Top and Bottom line ) of more than 40 Million USD. Projects led, mentored by him have won national and company global awards many times – NIQR, CII, QCI, Symbiosis Institute, Saint Gobain corporate India, Kennametal Inc.
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.
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