Resisting Price Increases & Cost Reduction Strategies for Purchasing

Course Overview

Cost Improvements Initiatives, when properly implemented, have resulted in dramatic reductions in cost and significant improvements in productivity across the entire organization. As in all initiatives, success is dependent not only on an awareness of the potential opportunities, but more importantly the knowledgeable implementation of the ideas, processes, and techniques that should be utilized.
This program focuses on Resisting Price Increases and Cost Improvement Initiatives and the many savings methods that have been used to reduce cost over the life of the product or service and across the entire supply chain.

Learning Outcomes:

• How to reduce cost of purchased material and services
• How to be on the “Road to World class” in savings initiatives.
• 6 steps to resist Price Increase for purchased goods and services
• Understand processes for data mining
• The criticality of the ABC analysis and how to use it to save time
• 42 ways Procurement has been reducing cost
• 6 step process for developing a purchase price index for your organization
• 12 important supply management competencies for achieving savings
• Receive a procedure for reporting cost improvements
• 10 major elements that need to be in a Strategic Sourcing Plan

Who Should Attend?

General Managers, Directors, Managers and Professionals in Purchasing, Procurement, Materials, Contracts, Buyers, Contract Administrators.
Finance, Operations, Maintains, Projects or any other Managers or Professionals involved in resisting cost increases or looking for savings relating to the purchase of goods, equipment, supplies, and services.

Training Methodology

This program will combine a variety of instructional methods including lecture by an experienced practitioner and consultant, exercises, and group discussions covering current practices and their relationship to the implementation of new concepts.