cost cutting techniques for purchase decisions

Whether in our personal life or professional life, purchase decisions are inevitable. Managing purchases is all about managing our funds. Any wrong procurement decision leads to blockage of funds or even sinking of the precious funds. Against this backdrop, scientific decision is of paramount importance. While taking decisions, rather than studying the situation analytically, our decisions are based on "gut feeling". Look around and you will find that certain section of people become CEOs. This is because notwithstanding the impressive qualifications from prestigious institutions. This happens because of lack of analytical skills among them. Cost Cutting Techniques for Purchase Decisions Training Course is to give analytical teeth to all the decision makers.

Yes, the very nature of their job makes procurement professionals most suitable for Cost Cutting Techniques for Purchase Decisions workshop. However, this training is also useful for all the decision makers like Managing Directors, Directors, Admin Heads, Entrepreneurs, and Independent Business Personnel and so on.

COURSE AGENDA

  • Tools of comparison for cost analysis
  • Make vs Buy Decisions
  • Lease vs Buy Decisions
  • Make vs Buy vs Rent decisions
  • Deciding between or among production systems
  • Basics of Decision Making
  • Understanding the various costs
  • Making a cost cutting strategy
  • Calculation of Breakeven point
  • Types of Capital Purchases
  • Factors to be considered while buying a Capital Equipment
  • Economic analysis of purchase of capital equipment
  • Checklist for Selecting Suppliers of Capital Equipment
  • Practice Examples on PBP, IRR, ARR, NPV
  • Return on Capital Employed (ROCE) and its limitations

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