Essential Analytical Techniques for Strategic Purchasing in the New Normal
Date and time
Location
Online event
Refund policy
Improve your analytical capabilities related to Purchasing Operations and Management
About this event
Comments from Previous Attendees
- "It was great to get first hand anecdotes from Robi while applying them to the best practices that he was teaching. This helped me to better understand and relate to the concepts and techniques. It also helped me to think more about how I conduct myself as a buyer."
- "It was the best training I ever had! I appreciated not only the fruitful content but also the example from trainer’s own experience. Very interesting and informative."
- "It was well organized and flowed nicely. Far from boring! I enjoyed the stories that enabled the principles to be applied. “
Course Objectives:
Upon completion of this seminar, participants will know:
- The value of Producer Price Indexes
- 6 Steps in developing a Purchase Price Index
- Elements of Cost that make up the supplier's price
- How Indirect Cost Are Determined And Allocated
- The analytics of evaluating supplier prices
- What is a fair and Reasonable Profit
- Developing "Should Costs"
Attendees will gain by participation in this program as a result of:
- Increased skill sets in analytical processes
- A greater sense of confidence and professionalism
- Applying increased skills in all phases of the procurement process
- Improved ability to develop best practices supply management strategies
- Increased recognition by the organization due to enhanced performance
Training Methodology:
Participants will increase competencies through various instructional methods, including lectures by an experienced practitioner and consultant, exercises, and group discussions covering current practices and their relationship to implementing new concepts.
Who Should Attend:
- Contracts, Purchasing, Procurement Personnel, Supply Management
- And all others involved in the planning, evaluation, preparation, and management of purchasing, tenders, and contracts that cover the acquisition of materials, equipment, and services, and who are in organizations whose leadership want high levels of competency in those involved in these activities.
Course Summary-Key Learning Objectives
Session 1: Analytics related to Purchasing Operations
The 1st step in strategic sourcing is developing and analyzing the total spend to develop the strategies that will lead to world-class procurement performance.
- Developing the Spend Profile
- Purchasing Hierarchical Coding
- Data mining using the power of spreadsheets and pivot tables
- The all critical Pareto (ABC) analysis
Session 2: The Analytics of Strategic Purchasing
How does Senior management measure procurement performance, and how does the supply management function measure itself, particularly as it pertains to pricing performance compared to the market place.
- Key Performance Indicator for Purchasing
- Price Indexes
- Developing the Purchase Price Index
Session 3: Understanding the Suppliers Cost
One of the most critical aspects of successful negotiations is understanding the supplier's cost structure used in developing the price.
- Elements Of Cost That Make Up The Price
- How Indirect Cost Are Determined And Allocated
- What Are Fair And Reasonable Profits
Session 4: Developing Should Cost
"Should cost" estimates independently attempt to construct the supplier's cost structure. Using this analytical approach, the buyer establishes estimates for an item or service's key cost elements.
- Developing the "Should Cost" of an item
- Developing the "Should Cost" of a service
See more training details and registration here:
