Pricing and Cost Analysis in Purchasing

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

Pricing and Cost Analysis in Purchasing

Pricing and Cost Analysis in Purchasing

Learn different price-setting strategies and review price and cost analysis to ensure you’re creating the most value for your organization. One of the most important and complex decisions a business or organization has to make is how much to pay for its items or services. The buying professional should be able to easily detect prices that are too high. Thus pricing decisions must be given careful consideration when buying industrial products and services. The price of a product or service should be expected to cover cost of production, promotion and distribution, plus reasonable profit. In order to obtain the most efficient and acceptable price the purchasing professional must make sure that they are aware of market conditions and prices associated with quality levels required for the buying firm’s needs. The effective buyer must become an expert for the items that they purchase. The objective of price-cost analysis is not to get the lowest price, but to obtain the best value with consideration for delivering time, acceptable quality levels, in the appropriate quantities. In general price is important; however, remember it is only one of many variables that are included in purchasing decisions.

Learning Objectives

  • You will be able to discuss price-setting strategy (economic).
  • You will be able to review price analysis.
  • You will be able to explain cost analysis.
  • You will be able to identify the learning curve.

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    Who should attend?

    This live webinar is designed for purchasing managers, buyers, contracting and materials managers, procurement managers, presidents, vice presidents, accountants, bookkeepers and financial professionals.

    Training content

    • Price-Setting Strategy (Economic)Price-Making Strategy (Psychological)Discounts
    • Cash
    • Trade Discounts
    • Quantity DiscountsPrice AnalysisCost Analysis
    • Direct Material
    • Direct Labor
    • Tooling (If Relevant)
    • Overhead (Manufacturing or Project)
    • General and Administration
    • ProfitThe Learning Curve
    • Direct Material Costs
    • Direct Labor CostsThe Price/Cost Analysis Process
    • Example
    • Negotiations

    Costs

    The cost of this Pricing and Cost Analysis in Purchasing live webinar is $199 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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