Cost analysis
Map a current situation involving cost analysis; separate facts from assumptions and identify questions that need clarification.
All programmesProcurement, Contracts & Logistics / PM-PRO-004
Advanced Buying Practice
A practical programme in advanced buying practice, connecting working concepts with team decisions and relevant workplace examples.
About the Course
This programme develops a working approach to advanced buying practice in the context of sourcing, contract performance and delivery choices. Participants move from understanding the main concepts to examining a case, testing alternatives and explaining a practical recommendation. The three modules focus on cost analysis, supplier assessment and negotiation preparation. Examples are selected after the training brief so that they reflect the responsibilities and experience of the participant group.
Course Objectives
- Explain the role of cost analysis and identify the information required for a reliable assessment.
- Use a structured worksheet to examine supplier assessment and compare reasonable alternatives.
- Identify assumptions, missing evidence and implementation concerns related to negotiation preparation.
- Prepare an option comparison with cost, service and exposure considerations for discussion with a supply-chain team.
- Translate the exercise into a workplace action plan with owners, review points and measurable progress.
Who Can Benefit
- Buyers and sourcing professionals: apply cost analysis to their responsibilities through a guided case and a course-specific worksheet.
- Contract and supply-chain coordinators: apply supplier assessment to their responsibilities through a guided case and a course-specific worksheet.
- Operations and logistics planners: apply negotiation preparation to their responsibilities through a guided case and a course-specific worksheet.
Participant experience and learning needs are reviewed before the programme is confirmed.
Curriculum & Practical Work
Supplier assessment
Compare two approaches to supplier assessment; explain the expected benefits, limitations and information gaps.
Negotiation preparation
Develop an action plan for negotiation preparation; assign responsibilities and agree how results should be reviewed.
Learning Method
Short concept discussions, guided worksheets, group comparisons and instructor feedback, followed by a workplace action plan.
Educational programme. No professional accreditation is implied; specialist legal, engineering or tax advice requires qualified professionals.