Cost Saving Initiatives in Purchasing and Supply

Cost Saving Initiatives in Purchasing and Supply

Category:
Procurement & supply chain/
Duration: 24 Hrs.
Lectures: 4
Logic Institute

Course Description

Purchasing cost savings programs have become a powerful way to demonstrate to management the ability purchasing must improve the financial results of a business institution. It is a strong to elevate to department and its personnel in the eyes of senior management.

Course objective:

  • Demonstrate an understanding of the different contexts in which purchasing activities take place.
  • Explain the importance of the purchasing function in contributing to the profitability of their organization.
  • Identify potential problems in certain areas and find appropriate solutions that lead to cost saving.
  • Demonstrate an understanding of the different reason for working and in dealing with suppliers.
  • Explain the different approaches that can be adopted in achieving cost saving in purchasing.
  • Understand the importance of the role they are playing in achieving the goals of their organization.
  • Understand the concept of 20/80% rule.
  • Understand the difference between price discounts, price avoidance and price reduction.
  • Determine how cost savings can add value and competitiveness to their organization.
  • Convince their management to implement some of the methodologies learned to achieve cost saving.
  • Provide an understanding of the importance of objectives setting.
  • Exercise the cost saving methodologies without effecting the quality of the bought goods and services.
  • Gain new knowledge that leads to developing their skills and improve their organizations effectiveness and competitiveness.
  • Develop and understanding of the areas in which cost savings could be attained.

What is the target audience?

  • Contracts, procurement, purchasing, and project personnel.
  • Buyers of all types of materials, equipment and services.
  • Buyers in business, government and military.
  • Buyers with extensive practical experience who have not had the opportunity to attend many training courses.
  • New buyers or those who appointed to the role in the past 2 or three years.
  • Managers responsible for buying department who wish to understand the roles and activities of their team.
  • Warehouse management personnel.
  • Inventory staff.
  • Staff responsible for supply chain performance.
  • Accountants who handles suppliers accounts
  • Engineering, operational, quality, and maintenance personnel.
  • Staff who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts and services or anyone who wants to improve supplier’s performance.
  • Materials management personnel responsible for local and international supply chain management operations.

About Instructors

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