In this training 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 learn how to 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 information to challenge or mitigate supplier contract and rate increases.
You’ll also learn how learning curves, break-even analysis, target costing, open book 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, and purchase agreements, are the greatest contributors to cost reduction. 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.
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, Managing Price, Cost, & Potential Increases, to find out how these positive results can be yours.
What you will learn in “Managing Price, Cost, & Potential Increases”?
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 and references.
- 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 spend 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 individual and small group project sessions.
- Conduct informed negotiations with greater confidence and certainty.
Additional benefits of the “Managing Price, Cost, & Potential Increases”:
- Apply “should cost” concepts that convert Potential increases into ratios that highlight meaningful relationships.
- Focus on different elements of cost, such as labor, materials, overhead, SG&A, and profit, by using comparative analytics.
- 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 “Managing Price, Cost, & Potential Increases”?
This course is designed for purchasing, procurement, contracting and supply management professionals who want to learn the applications of statistical and financial techniques for analyzing purchasing “should cost” problems. It offers a practice-intensive learning experience to anyone responsible for supplier cost containment, negotiating prices and fees, and purchasing competitively priced goods and services. Managing Price, Cost, & Potential Increases is recommended for buyers; material acquisition personnel; procurement staff analysts; contract administrators; commodity and sourcing specialists; purchasing agents; materials managers; and supply chain executives.
Note: Kindly provide company email address. Personal email addresses such as gmail, yahoo, hotmail and others will be filtered automatically by system.