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    Cost Reduction Strategies

    Senior Captain

    Number of posts : 173
    Registration date : 2011-10-13

    Cost Reduction Strategies Empty Cost Reduction Strategies

    Post  Eddy_kn on Thu Oct 13, 2011 8:58 am

    Cost Reduction Strategies
    It’s time to stop thinking of cost cutting in a vacuum. In the new world, the same initiatives can both reduce costs AND raise revenues. The most successful airlines will learn how to work across departments to not just control costs but achieve the ultimate goal: maximizing profitability.

    How You Will Benefit
    Improve your understanding of key drivers of airline profitability and shareholder value
    * Recognize the key ways in which global economic fundamentals impact an airline’s cost base
    * Become familiar with the latest and most important technologies airlines are using to lower their costs while simultaneously raising revenue, often with the same initiatives
    * Answer questions such as: If bag check fees reduce bags handled while generating revenues from those that are still checked, is this a revenue generation strategy or a cost management strategy? What about onboard food sales, which reduce consumption while driving revenues? Are there other opportunities for such dual-purpose strategies?
    * Identify crucial areas where costs can be prevented or reduced
    * Review and study real-life examples of cost management techniques and technological adoption at world-class airlines
    * Evaluate the long-term prospect for cost management

    Designed for

    * Chief Financial Officers and Financial Controllers
    * Cost and Management Accountants
    * Costs Analysis Managers
    * Operation Cost Control Managers
    * Divisional Managers

    Course Content

    * Identifying areas for cost prevention and reduction
    * Understanding the factors driving costs in areas such as fuel, labor, distribution, inventory management, corporate purchasing, fleet planning, airport and flight operations and foreign exchange
    * Implementing initiatives across departments that reduce costs while raising revenues with a view to maximizing profitability
    * Identifying and analysing dual-purpose strategies. Is it a a revenue generation strategy or a cost management strategy?
    * Distinguishing good costs from bad costs
    * Analyzing questions like outsourcing versus insourcing, buying versus leasing, self versus third party distribution, etc.
    * IATA’s Simplifying the Business (StB) Program
    * Developing and implementing effective cost-containment programs
    * Sustaining the impact of your cost-reduction program
    * Ensuring participation at all levels

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      Current date/time is Fri Nov 15, 2019 2:34 am