Cost reduction workshop receives high commendations

Tuesday, 9 September 2014 00:01 - - {{hitsCtrl.values.hits}}

The third in the series of the ‘Way-Forward’ Management Development Workshop on the subject ‘Cost Reduction through Creativity and Innovation’ concluded successfully on 4 September at the Galadari Hotel with over 50 senior managers and executives attending the event. The workshop was presented by Human Resource Management Institute Director Gihan Talgodapitiya. Many participants observed that the workshop was extremely practical and made simple and presented in an interesting and easily understood manner by the resource person. The entire program was based on many experiences Talgodapitiya has had in different countries in enhancing productivity and service standards. Participants highly commended the clarity and effectiveness of the presentation and the organisational efficiency of The Management Club and Human Resource Management Institute, the joint presenters of the program.

Talgodapitiya in his delivery focused on the critical importance of innovation and creativity as fundamental prerequisites for productivity improvement at all levels and stressed on the necessity to create a culture of innovation and to use incremental improvement as a Key Performance Indicator (KPI) in measuring improvement efforts. He illustrated with many real life examples on how different companies have used the principles of Value Analysis, Process Engineering, Kaizen Costing & Target Costing for enhancing productivity and reducing cost. He reiterated the eternal need to revisit processes for continuous improvement, the need to think differently and the success stories of paradigm shifts from many different companies in Sri Lanka, Singapore, India and Japan. He focused on a structured and sustainable approach to cost reduction and cited examples of how leading Sri Lankan companies use an integrated approach to enhancing productivity through innovation. Talgodapitiya quoted many examples from world-class companies where use of KPIs has brought about sustainable growth in productivity. The Management Club President Emeritus Fayaz Saleem and The Management Club Board of Management President Deepal Abeysekera also addressed the participants.