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Supplier Cost Management: Applied Best Practices That Ensure Minimum Total Cost

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Executive Education > Courses > Supplier Cost Management: Applied Best Practices That Ensure Minimum Total Cost

Supplier Cost Management: Applied Best Practices That Ensure Minimum Total Cost

Learn to identify and manage the important considerations that control your products’ or services’ total lifetime costs and prices. During this course, you’ll learn the powerful techniques of make-vs.-buy analysis, price/cost analysis, lifetime cost drivers, and supplier evaluation and selection methods.

Who should attend

The course is designed for new purchasing practitioners as well as experienced buyers, purchasing managers and agents. Because it offers a valuable learning experience for professionals who need to grasp the latest cost-effective purchasing techniques, anyone in corporate sales or a commercial customer service position will also benefit.

You will learn:

  • Why “total cost” is the most important measure for comparisons
  • Whether tighter specifications cost money or ensure quality
  • What should be outsourced and why
  • How buyers influence make-or-buy decisions
  • When price should be the highest on your priority list, and when it shouldn’t
  • The key financial ratios that will eliminate poor suppliers
  • The importance of multi-functional teams in the buying process
  • Value analysis and spend analysis concepts and use
  • How to develop supplier cost models to help determine appropriate margins

“The instructor had good material that had relevance to worldwide sourcing strategies and the legal challenges that accompany doing business on that basis.”

Kenneth Squier, Buyer, Cambrex, Charles City, IA

“The content and professionalism of the University of Wisconsin-Madison courses blows all those national seminars out of the water. The presenters were experts, the overall content and materials were real tools that I can use daily in my profession, and the food was awesome. There’s no comparison!”

Cherree Wellman, Medical Supply Purchaser, Hospice Care, Inc., Madison, WI

The University of Wisconsin–Madison, as a member of the University Continuing Education Association (UCEA), authorizes this course for 2.1 Continuing Education Units (CEUs) or 21 hours.