Learning Objectives:
- Price & Cost Development and Roles: Understanding when focus on Price is appropriate and focus on Cost is worth the effort, identifying the stage of Price & Cost and your role activity
- Elements of Cost: Developing a cost understanding of materials, labor, overhead and profits
- Uses of Price and Cost Analysis: Leveraging information to make decisions on interaction strategies with suppliers
- Target Costing: Working within an organization to develop an anticipated cost to support success
- Should Cost: Reverse engineering of cost to establish a baseline with suppliers
- Total Cost of Ownership (TCO) : Identifying the useful components of total cost for the category you manage, how to gauge total fixed, variable and semi-variable costs activity
- Financial Analysis and Data: Analyzing supplier financial statements and gaining insights for use in risk management and negotiation prep activity
- Profitability Ratio Analysis: Practicing calculating profitability ratios and gaining insights into a supplier
- Efficiency Ratio Analysis: Practicing calculating efficiency ratios and gaining insights into a supplier
- Opportunity Analysis: A significant number of options exist and an organization must determine which are the appropriate to resource
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Who Should Attend:
This supply management training is ideal for fundamental & proficient level professionals involved in the various aspects of strategic sourcing and cost management. Understanding elements of cost will provide proactive supplier strategies to drive down organizational costs and improve profitability. In addition, you will gain insight on the financial health trends with suppliers.
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