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Course Description

The core purpose of cost management is to reduce costs for you so that you can drive profits up. Reducing costs throughout the procurement process and product life cycle also adds value for your customers by driving prices down. While you may be tempted to focus solely on how to reduce costs within your own organization, truly effective cost management strategies work in partnership with your suppliers to drive costs down for you both. In this lesson, you will determine the procurement team's role in reducing costs throughout the product life cycle. You will also examine the impact that market structure and market dynamics have on prices. You will identify how to manage costs for different product types and leverage a supplier's pricing strategy into effective cost management for your organization.

Benefits to the Learner

  • Explore the role cost management plays in the product life cycle
  • Identify cost drivers associated with a given purchase scenario
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Type
self-paced (non-instructor led)
Dates
Aug 01, 2022 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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