Cost Optimization in Electronics Industry
A common perception we have is that the electronics industry such as semiconductor, chemical supply, plating, automotive, air control, RF and mobile communications, aerospace, being a high-value industry, will give companies very high returns. In fact, while some good companies are reaping as high as over 60% net profit, there are also companies that find it challenging to stay afloat. Apart from selling differentiated and excellent products, business strategy is also essential for companies to do well. Business strategy includes how to effectively strike deals with customers, as well as how to deal with suppliers and optimize company spending culture.
Cost optimization is a necessity for all companies. Though it may not necessarily turn a failing company into a profitable company, it is what differentiates a great company from a good company. Many companies do not optimize their spending, resorting only to so-called cost-cutting or cost reduction measures extensively during periods of market downturn. These efforts often backfire on their other key performance indices. Cost optimization needs to be systematic, holistic, sustainable, and effective. It must be a continuous improvement system in any company.
In this course, participants will get to explore the techniques used in successful MNCs. This course specifically focuses on how a company can optimize its materials spending, equipment maintenance spending as well as energy required for production. The latter is particularly pertinent for the fact that the Singapore Government is looking into the implementation of carbon tax starting next year.
The course will also include the start-up of the cost optimization system that covers the tracking of all projects throughout the implementation life cycle.
The objectives of this course are to guide everyone in the industry to understand the importance of reducing necessary spending and systematically eliminating unnecessary spending. All cost-saving measures covered in the course will be based on technical engineering data analysis as well as statistical evidence. Companies should not be left in ignorance of wasting our limited resources.
WHO SHOULD ATTEND
The course is suitable for all companies, including MNCs and SMEs, and strongly recommended for personnel from any department. Cost optimisation is not only for cost drivers in the company but also everyone from engineering; to suppliers; to accounting; to human resources as they should be equipped with the knowledge on cost optimisation to excel in their career.
CT Chung has been in the semiconductor industry for the past 35 years. He worked in MNCs like General Electric, GlobalFoundries and Applied Materials, and was involved in 5 Fabs start-up in GlobalFoundries from tool evaluation phase till the production phase. He helped to establish the Cost of Ownerships Model for the company when he was with Chartered Semiconductors. In the last 5 years of serving GlobalFoundries, he was the Head of Program Management Office that led Cost Optimization program to extend the company’s profitability.