Pricing and Cost Analysis in Purchasing Online Webinar

Learn Different Price-Setting Strategies And Review Price And Cost Analysis To Ensure You're Creating The Most Value For Your Organization

Pricing and Cost Analysis in Purchasing Online Webinar

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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.

Course Fast Facts:

  1. Learn everything you need to know about Pricing and Cost Analysis in Purchasing
  2. Comprehensive agenda about Pricing and Cost Analysis in Purchasing
  3. Study along with simple instructions & demonstrations
  4. Written and developed by leading Pricing and Cost Analysis Instructors
  5. Certificate of completion
  6. Available in multiple formats where you can choose the best format for your needs

Available in :

  • OnDemand Webinar : Archived webinar presentation with audio and slideshow including downloadable reference manual. Watch online anytime.
  • Audio & Reference Manual : PDF and MP3 files delivered on a USB flash drive. Listen and read on any compatible device.
  • MP3 Download : Audio recording of a webinar and reference manual delivered by download. Listen anytime on any compatible device.

Course Delivery

This program is available in several formats.Upon enrolment an automated welcome email will be sent to you (please check your junk email inbox if not received as this is an automated email), in order for you to access your online course

Recognition & Accreditation

All students who complete this course, receive a certificate of completion with a passing score (for the online assessment) and will be issued a certificate via email.

This course is being supplied by Lorman.

Price-Setting Strategy (Economic)

Price-Making Strategy (Psychological)

Discounts

  • Cash
  • Trade Discounts
  • Quantity Discounts

Price Analysis

Cost Analysis

  • Direct Material
  • Direct Labor
  • Tooling (If Relevant)
  • Overhead (Manufacturing or Project)
  • General and Administration
  • Profit

The Learning Curve

  • Direct Material Costs
  • Direct Labor Costs

The Price/Cost Analysis Process

  • Example
  • Negotiations

GENERAL REQUIREMENTS:

Entry Requirements
Students must have basic literacy and numeracy skills.

Minimum education
Open entry. Previous schooling and academic achievements are not required for entry into this course.

Computer requirements
Students will need access to a computer and the internet.

Minimum specifications for the computer are:

Windows:
Microsoft Windows XP, or later
Modern and up to date Browser (Internet Explorer 8 or later, Firefox, Chrome, Safari)

MAC/iOS:
OSX/iOS 6 or later
Modern and up to date Browser (Firefox, Chrome, Safari)

All systems
Internet bandwidth of 1Mb or faster
Flash player or a browser with HTML5 video capabilities (Currently Internet Explorer 9, Firefox, Chrome, Safari)

For LIVE WEBINARS:

Q: What is the webinar viewer?
A: Not every live webinar will have the webinar viewer. The webinar viewer is an online PowerPoint® presentation that the speaker will manipulate. You can access the webinar viewer through a link provided in your confirmation email. Again, Internet access is required.

Q: What is a live webinar?
A: A live webinar is a live training program in which the audio is streamed over the Internet or accessed over phone lines and the written materials are accessed via the Internet. Audio and video reception capabilities of your computer set-up is required.

Q: How do I access the live webinar?
A: Once you have registered for the live webinar, you will receive a confirmation email with a link and an individual PIN to stream the audio over the Internet and access the reference materials.

Q: How do I access the reference materials?
A: Your confirmation email includes a link to the reference materials for your live webinar. The reference materials are typically available for download a day or two before the live webinar.

For OnDemand WEBINARS:

Q: What is an OnDemand webinar?
A: OnDemand webinars are self-paced online programs that allow you to earn continuing education credit at your convenience. Each program includes a downloadable PDF reference manual. A PDF viewer is required.

Q: My OnDemand webinar is not functioning properly. What can I do?
A: Adobe Flash 9+ with Javascript enabled is needed to view the program.

W.C. Benton, Jr.

W.C. Benton, Jr.

The Ohio State University

  • The Edwin D. Dodd professor of management, and professor of operations and supply chain management in the Fisher College of Business at The Ohio State University
  • Teaches courses in purchasing/supply management, manufacturing planning and control, operations analysis, facility design and the business of health care to M.B.A. and doctoral candidates
  • Partner in Supply Chain Solutions, a supply chain management consulting firm
  • Published more than 175 articles in the areas of purchasing management, inventory control, supply chain management, quality assurance, materials management and health care
  • Frequent speaker and recognized operations management researcher
  • Worked as a sourcing consultant for companies throughout the world, including Australia, Canada, India, New Zealand, Korea, Taiwan, Hong Kong, Japan, Vienna, and the United States
  • Served as an expert witness for the private and public sector procurement cases
  • Doctorate in operations and systems management, and quantitative business analysis, Indiana University in Bloomington, Indiana
About this Course

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.

Course Fast Facts:

  1. Learn everything you need to know about Pricing and Cost Analysis in Purchasing
  2. Comprehensive agenda about Pricing and Cost Analysis in Purchasing
  3. Study along with simple instructions & demonstrations
  4. Written and developed by leading Pricing and Cost Analysis Instructors
  5. Certificate of completion
  6. Available in multiple formats where you can choose the best format for your needs

Available in :

  • OnDemand Webinar : Archived webinar presentation with audio and slideshow including downloadable reference manual. Watch online anytime.
  • Audio & Reference Manual : PDF and MP3 files delivered on a USB flash drive. Listen and read on any compatible device.
  • MP3 Download : Audio recording of a webinar and reference manual delivered by download. Listen anytime on any compatible device.

Course Delivery

This program is available in several formats.Upon enrolment an automated welcome email will be sent to you (please check your junk email inbox if not received as this is an automated email), in order for you to access your online course

Recognition & Accreditation

All students who complete this course, receive a certificate of completion with a passing score (for the online assessment) and will be issued a certificate via email.

This course is being supplied by Lorman.

Price-Setting Strategy (Economic)

Price-Making Strategy (Psychological)

Discounts

  • Cash
  • Trade Discounts
  • Quantity Discounts

Price Analysis

Cost Analysis

  • Direct Material
  • Direct Labor
  • Tooling (If Relevant)
  • Overhead (Manufacturing or Project)
  • General and Administration
  • Profit

The Learning Curve

  • Direct Material Costs
  • Direct Labor Costs

The Price/Cost Analysis Process

  • Example
  • Negotiations

GENERAL REQUIREMENTS:

Entry Requirements
Students must have basic literacy and numeracy skills.

Minimum education
Open entry. Previous schooling and academic achievements are not required for entry into this course.

Computer requirements
Students will need access to a computer and the internet.

Minimum specifications for the computer are:

Windows:
Microsoft Windows XP, or later
Modern and up to date Browser (Internet Explorer 8 or later, Firefox, Chrome, Safari)

MAC/iOS:
OSX/iOS 6 or later
Modern and up to date Browser (Firefox, Chrome, Safari)

All systems
Internet bandwidth of 1Mb or faster
Flash player or a browser with HTML5 video capabilities (Currently Internet Explorer 9, Firefox, Chrome, Safari)

For LIVE WEBINARS:

Q: What is the webinar viewer?
A: Not every live webinar will have the webinar viewer. The webinar viewer is an online PowerPoint® presentation that the speaker will manipulate. You can access the webinar viewer through a link provided in your confirmation email. Again, Internet access is required.

Q: What is a live webinar?
A: A live webinar is a live training program in which the audio is streamed over the Internet or accessed over phone lines and the written materials are accessed via the Internet. Audio and video reception capabilities of your computer set-up is required.

Q: How do I access the live webinar?
A: Once you have registered for the live webinar, you will receive a confirmation email with a link and an individual PIN to stream the audio over the Internet and access the reference materials.

Q: How do I access the reference materials?
A: Your confirmation email includes a link to the reference materials for your live webinar. The reference materials are typically available for download a day or two before the live webinar.

For OnDemand WEBINARS:

Q: What is an OnDemand webinar?
A: OnDemand webinars are self-paced online programs that allow you to earn continuing education credit at your convenience. Each program includes a downloadable PDF reference manual. A PDF viewer is required.

Q: My OnDemand webinar is not functioning properly. What can I do?
A: Adobe Flash 9+ with Javascript enabled is needed to view the program.

W.C. Benton, Jr.

W.C. Benton, Jr.

The Ohio State University

  • The Edwin D. Dodd professor of management, and professor of operations and supply chain management in the Fisher College of Business at The Ohio State University
  • Teaches courses in purchasing/supply management, manufacturing planning and control, operations analysis, facility design and the business of health care to M.B.A. and doctoral candidates
  • Partner in Supply Chain Solutions, a supply chain management consulting firm
  • Published more than 175 articles in the areas of purchasing management, inventory control, supply chain management, quality assurance, materials management and health care
  • Frequent speaker and recognized operations management researcher
  • Worked as a sourcing consultant for companies throughout the world, including Australia, Canada, India, New Zealand, Korea, Taiwan, Hong Kong, Japan, Vienna, and the United States
  • Served as an expert witness for the private and public sector procurement cases
  • Doctorate in operations and systems management, and quantitative business analysis, Indiana University in Bloomington, Indiana

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Course Summary

Course ID: 101LRPCAP
Delivery Mode: Online
Access: 90 days
Tutor Support: Yes
Time: 88 minutes
Qualification: Certificate

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