Savings Strategy Development

Your CEO wants to know: “Are you executing a strategy for cost savings or are you just ‘winging it?'” Could you respond by producing a top-notch written procurement strategy? If not, our highly personal and interactive online procurement course Savings Strategy Development can help. You will learn a systematic method of establishing a cost savings strategy in your organization. Your plan will be comprehensive. It’ll cover everything from analyzing your spend to strategic sourcing to continually improving cost savings processes. You’ll also understand many nuances of how to write an RFP within the context of a step-by-step sourcing process. Upon completing this course, you will be able to:

• Identify sourcing and savings opportunities by analyzing your spend
• Define and calculate several types of cost savings and cost avoidances
• Identify and take advantage of easy cost savings opportunities
• Achieve cost savings by leveraging existing supplier relationships
• Negotiate savings without straining a supplier relationship
• Manage costs by utilizing the Producers Price Index and developing your own Supplier Price Index
• Apply a proven approach to cost savings by implementing The 10-Phase Approach to World-Class Sourcing
• Track the progress of your sourcing strategy
• Determine a methodology and strategy when writing an RFP
• Write an RFP that is aligned with the final contract
• Write an RFP that achieves the perfect balance of standardization and customization
• Write an RFP that is aligned with evaluation scorecards
• Write an RFP that ensures equitable (“apples-to-apples”) supplier comparisons
• Write an RFP with an optimized supplier response format
• Report cost savings in a way that will be embraced by executive management

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 hours of CE credit.