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Savings Strategy Development

Distance-Education.org

Description

Your CEO wants to know: "Are you executing a cost savings strategy or are you just 'winging it'?" Could you respond by producing a top-notch written strategy? If not, the highly personal and interactive online class "Savings Strategy Development" can help you.

You will learn a systematic method of establishing a cost savings strategy in your organization. Your plan will be comprehensive, covering everything from analyzing your spend to strategic sourcing to continually improving cost savings processes. You'll also understand many nuances of how to write an RFP within the context of a step-by-step RFP process.

Frequently Asked Questions

How long will it take me to complete the course?

The amount of time it takes to complete the course is dependent upon the time you are able to spend in study. Each lesson takes approximately 30-60 minutes to complete and the course is comprised of 8 lessons. Students generally complete the course in 4-8 hours

Will I be able to work at my own pace?

Yes. The online format of the instruction method allows you to proceed according to your own pace. Your personal schedule governs your completion time. The material is available on demand online.

Are there any required books for the course?

No. The course is completely online and you will also receive a printer-friendly version of the course. This are included at no additional cost to you.

Can I assess what I have learned?

Yes. Each lesson has a review quiz. From there you will be able to determine if you understood the concepts or if you still need to review the materials further. You will need to score 70% or higher overall on the quizzes to successfully complete the course.


Outcomes

You will learn how to identify savings opportunities by analyzing your spend, plus...

  • How to define several types of savings and avoidances
  • How to create or improve a commodity classification system that optimally supports savings initiatives
  • How to find and take advantage of easy cost savings opportunities
  • How to achieve cost savings by leveraging existing supplier relationships
  • How to negotiate savings without straining a supplier relationship
  • How to diligently manage costs by utilizing the Producers Price Index and developing your own Supplier Price Index
  • How to get everyone to apply the same, proven approach to cost savings by implementing The Ten Phase Approach To World-Class Sourcing
  • How to determine a methodology and strategy when writing an RFP
  • How to write an RFP that is aligned with the final contract
  • How to write an RFP that achieves the perfect balance of standardization and customization
  • How to write an RFP that is aligned with evaluation scorecards
  • How to write an RFP that ensures equitable ("apples-to-apples") supplier comparisons
  • How to write an RFP with an optimized supplier response format
  • How to report cost savings in a way that will be embraced by executive management


Assessment

Evaluation of your performance will be based on...

Eight (8) Individual lesson quizzes consisting of 5 questions each for a total of 40 questions

You must earn a 70% (or 28 out of 40 questions correct) or higher in order to successfully pass the course. You must earn a 70% or higher in order to successfully pass this course (28 out of 40 questions correct). Students may retake quizzes an unlimited amount of times during the 60 days they have from the time of purchase.

course quick facts
course code DED3975
cost $219.00
estimated time to
complete course
8 Hours
course materials
available
60 Days