Advanced Procurement - Analyzing Costs Using Total Cost of Ownership

Smeal College of Business

Smeal College of Business

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Who should attend

  • Senior Leaders who want to create a consistent foundation of supply chain strategy, language, and principles across their team.
  • Leaders in business units that interact and intersect with the supply chain
  • Newer and high-potential supply chain leaders
  • Managers addressing both strategic concepts and tactical application throughout the end-to-end supply chain.

About the course

As Drucker famously shared, “If you can’t measure it, you can’t improve it.” Total Cost of Ownership provides a bottom-line focus for procurement practices and analysis tools to track the outcomes of decisions like supplier selection and supply chain design over time. This series will help participants understand TCO best practices and develop their own framework within their organizations.

Program Benefits

  • Accelerator courses - leverage the same expert instructors that you expect from the #1 ranked supply chain department in the country
  • Participate from any location – all you need is access to the internet and a web browser
  • Focus on learning tracks - select what aligns with your organizational responsibilities
  • Develop a new network - Connect live with supply chain experts and other participants from across the country - learn how others are addressing similar issues
  • Develop a new level of understanding – we help you make the connection between concept and application to deliver immediate impact in your workplace

Program Content

Description

The most successful procurement professionals develop strong total cost of ownership (TCO)behaviors. These professionals systematically take a TCO approach into account in their procurement decisions, use analytics and spreadsheet models to analyze suppliers,advise cross-functional teams on supplier selection, design decisions, and timing considerations based on TCO analysis, and search to identify innovative solutions to optimize total cost of ownership.

To do this you need to get to know the suppliers along with their strengths and weaknesses. You need to have an eye to supplier performance improvement, ensuring that both your company and the supplier work to improve service and costs according to set targets. When issues are identified, you work collaboratively with the supplier to see that they are resolved quickly and to the satisfaction of your client.

The selection of courses below, combined into the Analyzing Costs Using TCO track, is designed to address the above topics efficiently and comprehensively, allowing learners to immediately apply lessons learned to their work.

Week 1: Selecting and Managing Total Cost of Ownership Projects Week 2: Preparing for TCO Analysis Week 3: “Should Cost” Modeling and Success Factors

By the end of this three-week program, you should be able to:

  • Evaluate projects that have the potential to yield significant savings to the company’s bottom line by conducting cost analysis
  • Identify and measure Total Cost of Ownership (TCO) components and their impact on TCO value
  • Identify TCO components relevant to a class of products or services
  • Structure a TCO calculation model for a given class of products or services
  • Understand basic financial principals involved in calculating TCO components

What You’ll Learn

  • Learn why most successful procurement professionals develop strong total cost of ownership (TCO) behaviors.
  • Systematically take a TCO approach into account in your procurement decisions, use analytics and models to analyze suppliers, advise cross-functional teams on supplier selection, design decisions, and timing considerations based on TCO analysis, and search to identify innovative solutions to optimize total cost of ownership.
  • Learn how to get to know your suppliers along with their strengths and weaknesses.
  • You need to have an eye to supplier performance improvement, ensuring that both your company and the supplier work to improve service and costs according to set targets. When issues are then identified, you learn to work collaboratively with the supplier to see that they are resolved quickly and to the satisfaction of your customers and key stakeholders.

Advanced Procurement - Analyzing Costs Using Total Cost of Ownership at Smeal College of Business

From  $957

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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