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Course Code: PSCO 124
200 Course Visits
Vendor Cost Reduction
Course Sector:
Procurement & Supply Chain Operations
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
3 Days
London, UK $3,950
02
3 Days
Online, Virtual $1,550
03
3 Days
Riyadh, KSA $3,250
Introduction
Training course introducion / brief
The success and future of every company depends on how well costs are managed and controlled. While the cost of running business is increasing automatically, the ability to contain reduce cost in the procurement and supply chain industry is essential. Business survival, therefore, requires vendors’ commitment to cost control and creation of cost-conscious culture. This course is designed to provide participants with cost cutting concepts and strategies to consider awareness, process efficiency and other strategic cost management approaches even as stiff to reduce operation/project costs is pursued.
Course Objectives
At the end of the training course, participants will be able to
- Gain a comprehensive understanding of the actual requirements of why a service or product is being procured
- Discuss the rationale required for a cost reduction strategy
- Understand the need for change to more strategic and innovative approaches for vendors.
- Implement strategies to work with the supply chain to reduce costs in a pragmatic way
- Apply negotiating strategies and develop a win-win situation
Course Audience
Who is this course for, and can benefit the most
- Procurement Manager / Supervisor
- Procurement officer / assistant
- Purchase officer
- Vendor manager
- Supplier relationship officer
- Purchase coordinator
- International Buyer
- Category purchasing manager
- Supply chain officer- Procurements
- Logistics Professionals
- Distribution Managers
- Working in this field
- These who wants to start a career in this field
Course Outline
The course aims and learning outcomes
DETERMINING THE NEEDS TO DEVELOP A SUSTAINABLE COST REDUCTION PROGRAM
- Defining the Procurement Strategy
- Understand the real needs of the organization
- Analysing and managing key stakeholders
- Determine the risks involved
- Conducting an internal spend analysis
- Identification of a long-term cost reduction strategy
MANAGEMENT TOOLS AND TECHNIQUES TO DETERMINE COST REDUCTION
- Procurement analysis tools and techniques
- Strategic cost management
- Principles of cost and value management
- Understanding the principles Total Cost of Ownership
- Benchmarking and developing ‘should cost’
- Cost modelling / bottom up costing
DEVELOPMENT AND COLLABORATION
- Creating a vision that is viable and sustainable
- Introducing clear and measurable cost reduction targets
- Developing inventive programmes between client and vendors
- Negotiation strategies for a win-win relationship
- Renegotiating and changing existing supply contracts
- Monitoring performance and rewarding excellence
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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