Supply Chain, Logistics & Warehouse Training

Maximizing purchasing power training

Techniques for price, cost and total value

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.

Maximizing purchasing power training 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.

You will find the key answers you need in this maximizing purchasing power training.  The comprehensive material presented in maximizing purchasing power training is practical and job-specific, as well as relatively easy to apply.

What you will learn in maximizing purchasing power 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 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 maximizing purchasing power training, to find out how these positive results can be yours.

The key benefits of attending maximizing purchasing power training

  • 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 maximizing purchasing power 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 maximizing purchasing power training?

This training 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.  Maximizing purchasing power training is recommended for new buyers, senior buyers, procurement staff analysts, contract administrators, commodity and sourcing specialists, purchasing agents, and managers.

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