Supply Chain, Logistics & Warehouse Training

Analytical Methods for Improved Purchasing Performance

Today, purchasing, procurement, contracting, and supply management professionals must be the most progressive group in the company.  All systems, techniques, and operations theories must be dynamic and responsive to the very latest changes.  Simply put, to remain competitive in a fast-paced, global economy, your forecasting strategies and analytical skills must be top-notch.

Worldwide competitive pressures require a greater contribution from the purchasing and physical supply function and suppliers to improve the organization’s relative position on quality, price, technology, and responsiveness.  Analytical Methods for Improved Purchasing Performance can be your road map to achieving your most critical organizational objectives.

Analytical Methods for Improved Purchasing Performance is a highly concentrated training that discusses price, cost, and total value analysis theories in the choice of goods and services—those which you may have purchased in the past and those you are considering for the future.

One of Purchasing’s key functions is to determine the “right price.”  But what exactly is the:

  • Right Price?
  • Fair and Reasonable Price?
  • Total Cost of Ownership?
  • Best Value at the Lowest Overall Cost?

How are these analyzed and determined?  What “should cost” techniques are most applicable?

Where do you begin?

You will find the answers you need in this valuable seminar.  The comprehensive material presented in Analytical Methods for Improved Purchasing Performance is both practical and job-specific, as well as relatively easy to apply.

What you will learn in analytical methods for improved purchasing performance

You’ll find out how to determine which data you need, which mathematical formulas to use, and which cost, price, and quality factors you must consider.

You’ll analyze purchase history records, forecast price and market trends, determine total costs of ownership, analyze fixed and variable costs, conduct best-buy analyses, and utilize financial statement analyses of prospective suppliers for qualification of bidders.

You’ll also learn how learning curves, break-even analysis, target costing, and life cycle costing can help you make far more accurate estimates of cost and value.

The information is not only useful to establish cost improvements, but also to determine which purchasing techniques, i.e., value analysis, negotiation, purchase agreements, are the greatest contributors to cost improvements.  The information may also be used to determine which types of goods and services are sensitive to various purchasing techniques and whether or not individual buyers are more or less effective in negotiating agreements.  Successful purchasing and procurement depend on good buys, while good buys result from good analysis techniques.

This training emphasizes applications and practical ways to help you on the job and to put your new-found knowledge to work for your organization.  Purchasing and supplier management are changing dramatically.  New approaches and methods offer opportunities to cut costs, reduce waste, avoid non-value added activities, and increase the chance to buy at the lowest overall cost for the best value.  Plan to attend this exciting seminar, Analytical Methods for Improved Purchasing Performance, to find out how these positive results can be yours.

The key benefits of attending this training:

Your trainer will walk you, step by step, through scores of actual purchase decisions.  You’ll become practiced in the techniques you need to:

  • Evaluate any purchase using the appropriate mathematical formulas.
  • Realize the importance of price-cost information sources.
  • Identify the “best buy” for a given purchase through price and cost investigation.
  • Negotiate total cost of ownership more effectively with supplier and contractors.
  • Use forecasting and trend analysis techniques to better understand future market conditions.
  • Improve inventory management using Economic Order and Purchase Quantity techniques.
  • Show a measurable contribution to the bottom line due to more effective purchasing decisions and a deeper understanding of the economics of the marketplace.
  • Improve the return on investment from every purchasing dollar and your total spend.
  • Gain a working knowledge of the methods, techniques, and formulas for analyzing purchasing decisions.
  • Select the supplier, the product or service, and the solicitation package that best meet the organization’s needs and budget.
  • Put the latest analytic tools to work—during the seminar, in small group project sessions.
  • Conduct informed negotiations with greater confidence and certainty.

Additional benefits of attending this training:

  • Read a financial statement, and convert raw numbers into ratios that highlight meaningful relationships.
  • Focus on different financial characteristics such as liquidity, profitability, and inventory turnover by using financial ratios.
  • Understand the 8-step life cycle cost analysis procedure.
  • Learn how to construct a break-even analysis chart.
  • Utilize learning curve analysis and coefficients.
  • Conduct make vs. buy or outsourcing acquisition decisions.
  • Understand the application of payback analysis, rate of return analysis, and time-adjusted rate of return analysis in capital equipment or fixed asset purchases.
  • Examine target costing techniques and target pricing tools.

Who should attend analytical methods for improved purchasing performance?

This course is designed for procurement professionals who want to learn the applications of statistical and financial techniques for analyzing purchasing problems.  It offers a practice-intensive learning experience to anyone responsible for selecting suppliers, negotiating prices and fees, and purchasing goods and services.

Analytical Methods for Improved Purchasing Performance is recommended for buyers, supply managers, procurement staff analysts, contract administrators, commodity and sourcing specialists, purchasing agents, and executives.

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