Cost Reduction for Procurement: Using Supply-side Tools

How do you hit a seemingly impossible cost reduction target, especially when you’ve already exhausted all your internal opportunities to save? Your best bet is to start looking outward so you can cut costs from the other side. In this course, join instructor Martin John as he shows you how to reduce costs externally—and save even more using supply-side tools.

Discover actionable techniques used by successful procurement professionals who are always looking for new cost reduction opportunities. After exploring the essentials and key market-based contexts, Martin gives an overview of the eight most important supply-side levers that you can use to start reducing your costs immediately. Explore the power of tools such as benchmarking, supply chain mapping, demand consolidation, consortium purchasing, competitive bidding, e-auctions, supplier negotiation, as well as discounts, rebates, and incentives.