Timely and accurate information is the lifeblood of procurement. This makes it crucial that you have the knowledge and skills to get the most out of business information. This course on business analytics will take your supply management activities to the next level. You will cover essential concepts and best practices in cost analysis, market analysis and opportunity analysis. Not only is this supply management workshop rich in information, it also includes valuable hands-on exercises to put your new knowledge into action.
Member Price: $1,395.00
Feb 7-8, 2024
Brandon Hummons, CPSM, CPSD, has over a decade of experience in the Strategic Sourcing and Procurement industry. He began his career in the financial services sector and then moved in consulting with Corcentric. Brandon now functions as a Category Manager at CF Industries, leading the Indirect Category – IT, HR, Sales, Marketing, Finance, and Facilities. In addition to working at CF, Brandon runs his own Procurement Education Firm named Hummons Consulting, which thrives to enable procurement leaders with the skills and resources to create successful teams.
What You Will Learn:
- How to gather data sources and analyze supplier price and cost
- To understand supply market analyses and how to apply them
- How to analyze spend data and gauge improvement opportunities
- To identify and engage key stakeholders with whom analyses need to be shared
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Course Overview & Goals::
- Mega trends in procurement and supply chain - what trends impact business the most, how procurement should respond, supply management's strategic value
- Price/Cost Analysis - price and cost stages
- Supplier portfolio matrix - strategic, leverage, bottleneck, and routine
- Business requirements analysis - needs vs. wants, challenging the wants, determining the requirements
- Conditioning – roles, active & responsive conditioning
- Supplier Pricing – how suppliers set prices, analyzing pricing methods
- Cost Analysis - methods of cost analysis, total cost of ownership (TCO), average total cost and marginal cost
- Supplier market analysis – basic & advanced market analysis, Porter’s 5 forces, STEEP, SWOT, where to find data
- Supplier financial analysis – where to find the data, ratio analysis
- Opportunity analysis – essential concepts & best practices
- Supplier strategies on spend – opportunity matrix, spend analysis & Pareto, opportunity examples
- Stakeholder Identification – analyzing who the stakeholders are
- Action Planning – action planning templates, setting goals
Who Should Attend:
Supply chain and procurement professionals and managers; materials, contracts, projects, maintenance, operations, and financial managers. Also, any manager or practitioner interested in lowering total cost, and increasing productivity and profit contributions through improved supply management operations and strategies.
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.