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 seminar 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.
Materials, Contracts, Purchasing Managers, 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.
This seminar will combine 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.
The organization will benefit by:
Attendees will gain by participation in this program as a result of:
Session 1: Purchasing Savings Impact on the Bottom Line
This session sets the stage for the importance of the Supply Management function, how procurement savings go right to the bottom line, and the importance of having an accurate, up-to-date Spend Profile and analysis methods.
- Purchasing Savings Model
- Resisting Price Increases
- Developing The Spend Profile
- Developing the ABC Analysis.
Session 2: Savings Reporting
A Cost-Saving Reporting Process is essential for successfully resisting price increases, obtaining continuous cost improvements, and motivating people to search for savings.
- Best Practices For Cost Reduction Initiatives & Reporting
- Identifying the Opportunities In Cost Reduction Initiatives
- Cost Reduction Reporting Procedure
- Difference Between Cost Reduction And Avoidance
- Types Of Reductions
- Develop Rates To Use In Savings Reporting
- Sample Reporting Form
Session 3: The Value of the Purchase Price Index
Why and how we must develop a Key Performance Indicator (KPI) to show positive savings performance even when prices are increasing.
Session 4: Some Cost Improvement Methods
This session presents some very important saving methods that bring significant impact.
Comments from Previous Attendees
“That was a timely topic on cost saving. Better than expected. I had not had good experience with online learning BUT THIS EXCEEDED MY EXPECTATIONS.” -- Sourcing Manager, Peerless Pump Company
“Good training. Very practical, insightful advice and theory. Excellent examples and exercise. The entire training added value to my work. - I do not purchase services but you never know when this information might become useful on future jobs. ” -- Program Buyer, Neapco