TRAINING DURATION OF PURCHASING COST MANAGEMENT

• 2 day course
• 9.00am to 5.30pm (with lunch / tea break)

TRAINING METHODOLOGY

• This training will involve the following area to enhance learning:
• Power point presentation
• Case studies / Brain storming session
• Discussion on subject of learning
• Facilitating by trainer to enhance understanding of subject matter
• Notes will be provided
• Exercise to evaluate participants understanding

TRAINING OBJECTIVES

The training program was design with the following key objectives of learning to the  participants:-

• Key objective of purchasing
• The Process of Cost Management
• Total Cost of Ownership principal
• Cost Reduction and Cost Saving principal
• The different techniques used to reduce cost in the business organization
• Process standardization and continuous improvement to secure long term cost reduction and saving
• Indentifying cost management partners
• Cost reporting – how to do it effectively

LEARNING OBJECTIVES

By the end of the 2 days interactive session, the learning curve achieve will enable the following:-

• UNDERSTAND the process of cost management in purchasing
• APPRAISE and DISTINGUISH the type of cost management strategy
• DEVELOP action plan to implement cost saving and cost reduction strategies and activities to ensure continuous progress and monitoring of result
• CONDUCT cost – spent analysis to identify area of area cost improvement in the organization
• APPLY the Total Cost of Ownership concept during cost evaluation

PARTICIPANTS GROUP

This training program is highly recommended for employees involve in purchasing function and other employees and business owner interested in understanding the process of cost management in managing purchasing.

COURSE CONTENT

Day 1

• Why Cost Management is important
• Process of Cost Management in Purchasing
• Procedure and control mechanism
• Barrier to effective cost management
• Impact of Cost Management to Business
• Total Cost of Ownership – concept and principal

Day 2

• Cost Saving, Cost Reduction and Cost Elimination Strategy
• Supplier Role in efficient cost management
• Customer Role in cost management
• Key Success Factor to Cost Management
• Tactical and Strategic Cost Management Strategy
• Spent Analysis Reporting
• Exercise and case study

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