Cost & Price Analysis for Procurement Masterclass

Workshop Overview

In today’s uncertain and unpredictable economic times most companies will come under extreme pressure to reduce costs and improve profits. Procurement function plays a very important role as to assist companies save money and reduce costs. This seminar will provide participants with a clear insight of all important elements of the procurement function in the business environment and endow them with a detailed analysis of the price and cost analyses required for a procurement officer to establish and determine ways of reducing costs. Participants will also be able to comprehend ways of selecting and developing suppliers as well as reasons for price negotiations.

This dynamic course is a combination of instructional techniques including presentations by an experienced practitioner, activities, and group discussions covering current practices and their relationship to the usage of new models.

Key benefits of attending this workshop

By end of this course, delegates will be able to:

  • DESIGNATE the four main price negotiations
  • MANAGE performance and meet costs estimates
  • IDENTIFY procurement’s major methods and process
  • COMPREHEND differences related to price, value and cost
  • UNDERSTAND the important elements of the procurement function
  • APPLY the correct use and documentation of price analysis techniques
  • DESCRIBE main types of costs (traditional and sophisticated accounting methods)
  • EXPLAIN and apply the two main analyses (price & cost) in the procurement function
  • BUILD a portfolio of suppliers by properly and optimally selecting and developing them

Who Should Attend?

This course is designed for all Procurement and Supply Chain levels, equipping all of them with the skills to better evaluate the programs and communicate in a common language. Therefore, the course useful for:

  • Sourcing Staffs
  • Head of Finance
  • Project Managers
  • Vendor Managers
  • Operation Manager
  • Head of Procurement
  • Tender & Quotations Staffs
  • Supply Management Specialist
  • Purchasing and Buying Specialist

Why you should Attend?

Delegates have the best opportunity to have a top notch cost and price systematic methods in this quick paced, worldwide economy. This workshop is adapted to the needs of procurement professionals. A higher commitment is required from the purchasing and supply capacity to enhance the organization’s relative position on price and cost. This is mainly accurate in the current phase where the cost is reliably scaling each year.

The two day workshop is designed for attendees to experience a world class advanced approaches and methods that offer the opportunities to minimize and manage the financial cost risks when placing contracts and increase the opportunity to purchase at the least cost for the best value.