Strategic Cost Management

Strategies to improve cost management performance

Program Description:

The Strategic Cost Management program enables your supply chain experts to improve their cost management abilities. Cost modeling and procurement preparation case studies are deployed for simulated negotiations tailored to align supply chain specialists with the overarching interests of your firm. By building and working through detailed execution strategies, participants learn how to effectively bring priorities forward to every negotiation. The faculty instructor for this program is a renowned thought leader in supply chain management and is an industry expert in category management, strategic sourcing, supply market intelligence, and supplier development. The instructor serves as a professor of supply chain management at North Carolina State University’s Poole College of Management and as an adjunct professor at the Supply Chain Management Research Group at the Manchester Business School. He is a prolific author and globally recognized leader in the field, contributing regularly to the intellectual capital of supply chain management. This TNI seminar expands the ability of participants to prepare and conduct a strategic negotiation. Participants will be more efficient, productive, and profitable upon returning to work.

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  • Topics:
    • Pricing Strategies and Variables Total Cost Analysis
    • Using the PPI Index and Other Sources to Understand Price Variability
    • Internet Data Sources
    • Optimal Contracting Structures
    • Should-Cost Model
    • Components of Price and Cost Drivers That Can Be Used in the Negotiation
    • Preparing for the Negotiation
    • Cost Reduction Levers
    • Finalizing the Total Cost of Ownership (TCO)
    • Determining Cost Reduction Opportunities
    • Supplier Scorecards
    • Developing the Value Model
    • Target Costing
    • Building a Target Cost Model for Renegotiating With a Supplier
    • Finalizing the Negotiation Strategy
  • Key Takeaways:
    • Improved negotiation skills/techniques
    • Practical cost modeling
    • Best-practice negotiation skills for your industry
    • How to prepare for a strategic negotiation
    • Conduct a cost modeling effort
    • Work through the preparation of procurement negotiations and build a strategy
    • Work through details of how to execute strategy as a group
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