COURSE OVERVIEW

 This highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using the “MS Excel” application. 

This course is designed to provide participants with a detailed and up-to-date overview of Resisting Price Increase & Cost Reduction. It covers the price resistance, cost reduction versus price reduction and supplier pricing structures; the total cost of ownership (TCO) and financial impact of price increases and the preparation for negotiation, communication tactics with suppliers, leveraging market knowledge and negotiation techniques for price resistance. Further, the course will also discuss how to handle difficult supplier behavior; the cost reduction frameworks and cost-saving opportunities; the collaborative cost reduction with suppliers, substitution and alternative solutions and logistics and supply chain optimization; the cost modeling and analysis, risk assessment in cost management and contractual levers to resist price increases; using technology for cost control; and the procurement governance and compliance. 
 During this interactive course, participants will learn to build a long-term supplier relationships; the strategic sourcing and globalization, green procurement initiatives and circular economy practices; the energy efficiency in supply chains and reducing carbon costs and penalties; and the future trends in price management covering commodity volatility and hedging, digital procurement transformation and the impact of AI and machine learning.