This course discusses the concepts and tools that can be used to understand
the total costs of goods and services, as well as the relationship between
cost drivers and pricing parameters that are established in the marketplace.
In most commercial organizations, managing the acquisition of goods and
services can represent a dynamic opportunity for improving profitability,
operational efficiency, and cash flow. In this course, you will learn the
concepts and tools used to measure and manage costs when acquiring goods or
services, as well as identify the relationship between total acquisition cost
and pricing established by a supplier. You will explore specific procurement
methodology that identifies opportunities for minimizing costs in the supply
chain and learn about the metrics that represent the productivity resulting
from cost-containment efforts.
After completing this course, you should be able to:
Recognize the link between acquisition costs and supplier’s pricing.
Identify the tools and techniques to manage costs and supplier pricing.
Recognize roles, responsibilities, and failure modes.