Applications in Cost Modeling: Singapore

Service Description

Cost Modeling is a technique used by purchasers to better understand the logic behind a supplier’s pricing, especially as it pertains materials, direct labor and overhead expenses. It is typically used to support pricing, and lead to a better understanding of the process that culminates in a make or buy decision. This 2 day workshop will help you understand how supplier and product costs can help the Supply Management professional, such as yourself; develop an appreciation of important cost drivers, which provides a starting point for cooperative relationships to reduce total supply chain costs and show your executive that Supplier cost modelling is an essential tool for corporate survival We will focus on the four key areas of Cost Modeling: 1. Cost Modeling Elements 2. Should Cost vs. Target Cost, 3. TCO-Total Cost of Ownership models, and 4. Rolling out best-in-class practices to your supplier(s).