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Course Description

Engaging in collaborative efforts to reduce production costs will not only increase supplier revenue but will also decrease prices for you as the buyer and increase value for your customers. For the collaboration to be successful, the buyer and supplier must maintain trust and open lines of communication. In this lesson, you will determine the conditions under which it is appropriate to use collaborative cost management techniques. You will assess whether your product needs are conducive to cost savings or if the price is set by a competitive market. You will also explore target pricing as a method of collaboration for instances where your customers expect to pay a certain price. Finally, you will examine the cost-saving sharing plan method, where you will work with suppliers to perhaps incur some of the costs yourself in return for lower prices.

Benefits to the Learner

  • Evaluate where costs can be reduced through collaboration with suppliers
  • Determine whether target pricing or cost-sharing is appropriate for the purchasing 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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