Buying During Inflationary Times

16th to 18th August 2022 9.00am to 1.00pm Online

Overview

‘Buying During Inflationary Times’ explores the practical steps procurement practitoners can take to mitigate inflationary pressures in the supply base. The aim is to equip participants with the methods, tools and capability to manage price increase requests from suppliers. Delivered by an experienced procurement practitioner, the practical and interactive workshop includes presentations, checklists, small group discussions, quizzes and Q&A sessions.

Duration

Three four-hour sessions delivered virtually, over three mornings on ZOOM

Learning outcomes

Attending this workshop will enable you;

  • to identify categories that are most vulnerable to price fluctuations
  • to apply one of a selection of cost management strategies to each category
  • to select the most approptiate cost management approach for the category
  • to identify ‘cost drivers’ and monitor leading and lagging indicators
  • to develop and negotiate a cost model with suppliers to manage costs collaboratively
  • to develop and implement price variation models within their contracts

Outline content

The workshop content is focused upon practical tools and techniques that can be implemented straight away. Every participant will get a PDF toolkit summarising the content and methods that helps ‘hardwire’ the lessons learned into practice. The outline content includes how to:

  • Develop a cost model for manufacturing, distribution and service businesses that shows the impact of bought-in goods and services on costs
  • Identify cost drivers and the associated leading and lagging indicators
  • Profile the spend portfolio and ‘hot spot’ the categories that are most suspceptible to inflationary pressure
  • Apply a variety of cost management strategies, including :
    • Pre-emptive approaches to deter and discourage price rises
    • Reactive approaches including collaboration when we do not have market power and methods when we do have market power
  • Explore cost-reduction initiatives that suppliers may adopt and which may fully or partially offset price increases incuding:
    • Overheads and ‘corporate’ spend
    • Labour costs
    • Bought-in goods and services
  • Distinguish between collaborative and competitive approaches to costs management
  • Develop and implement price variation models within their contracts

Benefits from attending

Attendance will give you:

  1. More tools and approaches to manage cost changes
  2. More chance of being proactive in dealing with key suppliers
  3. Better outcomes and more sustainable agreements
  4. Stronger relationships with suppliers based upon recognition of actual cost changes and joint initiatives to manage cost down/out

Target audience

The workshop is suitable for anyone who manages spend and is responsible for ensuring that spend is within budget, particularly in a procurement role. Whether you are at the start of your journey or want to refresh your existing skills, this workshop will develop your capability.

Workshop facilitator

Paul Rogers FCIPS is an experienced procurement practitioner and a published author. Paul animates the sessions with a wealth of practical tips, methods and advice so that participants have practical take-aways not theoretical models. In a forty-year career Paul has managed procurement in public and private sectors and dealt with inflation in excesss of 15% per annum! https://www.linkedin.com/in/paulrogersprocurementpro/

What others have said:

“It gave me a totally different perspective outside of just following process.”

“A fantastic course! Gives you great good insight into supplier behaviours.”

“Excellent presenter. Humorous with relevant case studies and stories.”

“Paul is a highly regarded professional, coach and mentor. He combines strategic planning and meticulous preparation with a wealth of diverse business experience and sophisticated commercial acumen to achieve a mutually acceptable level of value and risk” Billie Gorman

“Paul has the deepest analytical negotiation knowledge of anyone I’ve worked with in over 30 years in business .If there was a TV series about negotiation, it would be called CSI: Paul” Elliot Epstein

“Paul has an uncanny knack of bringing simplicity to complex process’ by asking the killer questions which enables all stakeholders to develop a clear understanding of value offered and value returned. Once there is a shared understanding it becomes compelling to share the value and move forward in partnership – this is such a rare outcome in negotiations which is surprising but Paul navigates to that place pretty much every time. Oh, and he makes it fun as well” Chris Bayman

Standard Price: $2200+ GST
PASA Connect Member: $1760 + GST

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