Developing Cost-Savings Strategies is a two-day managerial programme on cost-price analysis techniques and the ability to develop a cost-savings strategy. It covers the digital impact on strategic sourcing and cost management, pricing strategies and price analysis methodology, the management perspective of cost savings, cost estimating and the procurement category matrix, the identification of potential cost savings through spend analysis, the application of cost control, cost avoidance, cost reduction and cost saving, cost savings models and performance measures, the effects of supplier relationship management and value creation on cost savings, and cost savings documentation and reporting. The programme is facilitated by a trainer with substantive experience in cost control and effective cost management, and the sessions are interactive and interspersed with relevant exercises on cost-savings strategy.
Fees include course materials, breakfast and lunch, and the Certificate of Competency. Members save S$100 on this programme.
What you will be able to do
By the end of this programme you will be able to:
- Distinguish and apply cost control, cost avoidance, cost reduction and cost saving
- Apply price analysis methodology to supplier pricing strategies
- Identify potential savings through spend analysis and cost estimating
- Build a cost savings model supported by defined performance measures
- Document and report cost savings to management
Programme outline
The incessant expectation of management for continual cost savings requires a sustainable approach to visible cost savings, built on analysis of total spend and defined performance measures. The programme distinguishes cost control, cost avoidance, cost reduction and cost saving, then works through pricing strategies, price analysis methodology, cost estimating and spend analysis to identify potential cost savings, and through the cost savings model, performance measures, and cost savings documentation and reporting, supported by practical cost-savings examples and case exercises. On completion you will be able to apply cost-price analysis techniques, identify potential cost savings from total spend, and document and report cost savings.
- Digital Impact on Strategic Sourcing and Cost Management
- Pricing Strategies & Price Analysis Methodology
- Management Perspective of Cost Savings
- Cost Estimating & Procurement Category Matrix
- Identifying Potential Cost Savings & Spend Analysis
- Understanding and Applying Cost Control, Cost Avoidance, Cost Reduction & Cost Saving
- Cost Savings Model and Performance Measures
- Effects of SRM and Value Creation on Cost-Savings
- Practical Cost-Savings Examples
- Cost Savings Documentation & Reporting
- Relevant & Practical Case Exercises
Who should attend
Management expects continual cost savings, and expects them to be visible and documented. The programme is written for Procurement Managers, Category Managers, Cost Analysts, Contracts Executives and Finance Business Partners who negotiate prices, interrogate spend and report savings upward. It suits anyone carrying a savings target who must then document and report the result to management.
Approving this for your team? The programme is suitable for staff development budgets, and SIPMM can invoice your organisation directly and arrange group registrations.
Your trainer
The facilitator brings substantive experience in cost control and effective cost management, which grounds the cost savings model and the practical case exercises.
This programme awards 1 Certificate of Competency
Certificates of Competency build towards SIPMM's professional designations. ASP™ and AIP™ require three, and Chartered status requires an active designation plus two at managerial or leadership level.
Deliver this programme in-house
This programme can be run for your team at your premises or at SIPMM, tailored to your organisation's categories and operations.