BravoSolution Real World Webinars – Procurement Planning and Cost Management

The next BravoSolution Real World Procurement webinar is in just two weeks’ time on November 14th and features our friend Guy Allen (pictured here and a CPO for many years at Abbey, Santander, Fujitsu etc) talking about Procurement Planning for 2018. How will you make next year even more successful than this in terms of procurement performance and results?

Guy is going to talk about how to develop and implement a robust planning process for procurement, involving engagement cross-functionally with stakeholders and procurement colleagues.  And how can you incorporate some ground-breaking initiatives as well as the “business as usual” deliverables? Guy’s sessions are always full of practical, experience-based advice with a bit of innovation thrown in and I’m sure this will be no exception. You can register here – sessions are at 12 noon UK time and 7pm UK time (ideal for US delegates).

And while we’re talking about the BravoSolution webinar series, the most recent in the series saw Professor Robert Handfield on Strategic Cost Management. I missed the live session but having listened and watched it on catch-up over the weekend, I can say that it’s another content-packed session from Handfield.

He talks about cost modelling, total cost of ownership and “should cost” models, all of which are powerful tools and should really be in the armoury of any procurement professional. Much of this is most applicable in a manufacturing environment, and some of the case studies Handfield gives from firms in that sector are really impressive (almost frighteningly so).

In one firm, he says “Product cost engineering (PCE) conducts competitive teardowns, cost analysis, and best of breed modeling to derive a best of breed product and a target price that is set in stone. “PCE tells us where to buy, what to buy, and what the design gaps are for all of our new products”.”

It’s a long way from 3 bids and a bit of negotiation, that’s for sure! But Handfield lays out a route to increasing maturity – so even if you aren’t near that level yet, he suggests some ways of getting started, such as appointing a corporate champion for cost management, and developing cost management key performance indicators.

As we’ve said many times before, you should always think about value really as the prime driver for procurement. But we accept that for some products and for some spend areas or items, cost reduction will always be a key driver – perhaps THE key driver. So this is an important topic for many professionals, and this session gives some strong insights into how to execute these techniques.

You can access it here – free on registration.

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