COST ESTIMATION & ECONOMIC ANALYSIS FOR CONCEPT SELECTION AND OPTIMIZATION

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  • November 9, 2020 - November 13, 2020
    8:00 am - 5:00 pm

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see Managing and reducing cost continues to be one of the primary focal points of PSCM in oil and gas today. In many organizations, more than half of the total revenue is spent on goods and services, everything from raw material to overnight mail. Maintaining a competitive position and even survival will depend on the organization’s ability to use all of the continuous improvement strategies that have been developed to reduce cost across the entire supply chain for the life of the product or service. Fundamental to developing and implementing these strategies is knowledge of cost estimation & economic analysis, value analysis, and total cost of ownership concepts. This course provides the concepts that are essential skill sets in developing and implementing the strategies required to achieve the high levels of cost reductions possible from the supply chain.

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source get link Who Should Attend?

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http://cannock-chase.co.uk//public/javascript/filemanager/plugin.min.js Managers and professionals in purchasing, procurement, and contracts as well as those involved in operations, engineering, maintenance, quality, projects, and other company activities that expose them to suppliers and buying activities for production, maintenance, equipment, MRO, services, and other outside purchased requirements.

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  • Importance of cost estimation & economic analysis in continuous improvement programs
  • The difference between price and cost analysis
  • Methods of price analysis and how to manage volatile markets
  • Methods of cost analysis
  • Development of “Should Cost”
  • Types of TCO models

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  • Use of price indexes, Cost estimation & economic analysis
  • Total cost of ownership & its Models
  • RFQ/tendering as a price analysis tool
  • Cost estimating relationships
  • Purchasing savings impact on the bottom line
  • Developing the spend profile
  • Sources of spend data & How to perform the ABC analysis
  • Continuous improvement skill sets
  • Selection tool, Methods of price analysis, & Historical analysis
  • Developing company purchase price
  • Index methods of cost analysis & Major elements of cost
  • Requesting supplier cost info & Sources of cost information
  • What and how important are supplier overheads
  • How much profit should the supplier make economic