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Resisting Price Increases and Implementing Cost Improvement Initiatives: How to Make a Major Impact into Today's Volatile Marketplace

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Seminar #4270
August 11 - 12, 2011
Philadelphia, PA

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Overview

When the objective is to lower cost or prevent cost increases, world-class organizations look closely at what and how they buy. Those involved in the purchasing and contracting activities are critical contributors to the organizations ability to achieve high level performance and will bring dramatic results when equipped with the skills to both resist supplier price increases and identify and implement cost reduction opportunities in today's volatile marketplace.

Please Bring a Calculator

Who Should Attend

Professionals involved in resisting cost increases or looking for savings relating to the purchase of goods, equipment, supplies, and services.

You Will Learn...
  • How to be on the "road to world class" in cost reductions and improvement
  • Steps to resist price increases in materials and services and how to find savings opportunities for your organization
  • Effective processes for data mining
  • How to use economic price adjustment clauses
  • The criticality of the ABC analysis
  • A process for developing a purchase price index for your organization
  • A procedure for reporting cost improvements
  • How to develop a strategic purchase plan
You Will Earn...

14.00 continuing education hours
Course Outline
  1. Purchasing Savings Impact on the Bottom Line: The need for change; The Work Matters Purchasing Savings Model; Essential issues in cost reduction initiatives; Best practices for cost reduction initiatives and reporting; A checklist resulting for experiences

  2. Savings Reporting: Cost reduction reporting procedure; Difference between cost reduction and avoidance; Types of reductions; Develop rates to use in savings reporting; Sample reporting form; Continuous improvement skill sets

  3. Data Mining & Opportunity Assessment: Sources of spend data; Developing the spend profile; Commodity codes; Developing the ABC Analysis; Analyzing the spend profile; Developing opportunity hypotheses with user group brainstorming sessions; The improvement opportunity form

  4. The Value of the Purchase Price Index: What are Producer Price Indexes and where they are found; The steps of how to develop an organization purchase price index and comparing it to external indexes

  5. Cost Improvement Methods — Part 1: Total Cost of Ownership; Benchmarking; Understanding of the supply marketplace; Price and cost analysis; The elements that make up price; Resisting price increases

  6. Cost Improvement Methods — Part 2: Reengineering processes; Early purchasing and supplier involvement; Economic price adjustment clauses; Developing commodity plans; Negotiations; Value analysis; How purchasing as been obtaining savings

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Hotel Information

Embassy Suites Hotel Philadelphia - Center City
1776 Benjamin Franklin Parkway
Philadelphia, PA 19103
215/561-1776

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In order to ensure maximum participation interaction and learning, enrollment is limited. Save $200 USD and ensure your spot in the classroom when you register 30 days or more prior to the program start date (not applicable to One-Day programs)

Seminar Hours:
2-Day Seminars
First Day: 8:30 a.m. - 4:30 p.m.
Second Day: 8:30 a.m. - 4:00 p.m.

3-Day Seminars
First Day: 8:30 a.m. - 4:30 p.m.
Second Day: 8:30 a.m. - 4:30 p.m.
Third Day: 8:30 a.m. - 4:00 p.m.

One-Day Seminars:       8:30 a.m. - 4:30 p.m.

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Seminar #4270 Regular Price Member Price
Cost: $1,695.00 $1,395.00
Early Bird*: -$200.00 -$200.00
Total: $1,495.00 $1,195.00
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* Save USD $200 when you register 30 days or more prior to the program start date (not applicable to One-Day programs). Payment must be received at the time of registration in order to qualify for the early bird discount.