Vendor Cost Reduction

Workshop Overview

This course is intended to highlight the processes and methodologies whereby a business, a procurement department and an individual can effectively recognize the benefit and risks of vendor cost reduction strategies and manage them to the benefit of themselves, their business or organization whilst retaining full control of both the process and the relationship.

Key benefits of attending this workshop

  • EXAMINE the definition of strategic sourcing and vendor cost and pricing.
  • UNDERSTAND the breakdown of vendor costs
  • APPRECIATE the best pricing initiatives for total cost of ownership
  • EXPLORE the right specification to reduce cost structures
  • EXAMINE Service Level agreements with a view to obtaining best value
  • UNDERSTAND strategic supply management to obtain reduction of vendor costs

Who Should Attend?

Chief Executive Officers, Chief Operating Officers, Directors, General Managers, Vice Presidents, Heads, Senior Managers, Managers and Senior Executives of

  • Supply Chain
  • Logistics
  • Procurement & Sourcing
  • Supply Chain Management
  • Supplier Risk Management
  • Purchasing
  • Inventory Management
  • Price control
  • Warehousing
  • Strategic Planning
  • Senior non-procurement management
  • Dual tasked management with a
  • Procurement responsibility
  • Procurement management
  • Supply Chain management
  • Finance
  • Operations
  • Legal
  • Sales and Marketing staff

Why you should Attend?

You will understand the elements of vendor pricing and costs structure. Recognize how Businesses can rely on strategic sourcing policies and effective specifications to assist with its procurement activities, obtain value of money, appreciate the advantages of setting targets, and communicating detailed objectives to vendors.

Furthermore, you will gain a thorough understanding of total cost of ownership and its contribution toward a more agile and efficient organization.