The Role of the Buyer: Utilizing Practical Tools
Webinar Details $219
- Webinar Date: January 16, 2024
- Webinar Time: 12:00pm - 1:40pm EST live
- Webinar Length: 100 Minutes
- Guest Speaker: Michael W. Gozzo
- Topic: Purchasing
- Credit: ISM 1.5, ATAPU 1.5, CPE 2.0
Professionals recognize that bullying their suppliers might provide a quick fix on the price, but it isn't a long term solution. Join Mike Gozzo as he provides you with practical and effective way to resolve various issues resulting in beneficial supplier performances. Walk away with an understanding of price/cost analysis, how to define customer needs and understanding how to measure performance.
Your Benefits of Attending:
- Understand the typical roles of a buyer and why that is important.
- Learn how to properly define customer expectations.
- Gain insight into defining goals and objectives that result in positive outcomes.
- Gain 5 practical tools to employ: defining needs, understanding respective commodities, using price/cost analysis, effective negotiation and supplier sourcing/evalution.
Register today and set yourself up for success in the buyer role.
- Content 00:01:41
- Neil Armstrong Quote 00:03:08
- Section 1 00:03:45
- What Is A Buyer? 00:03:53
- What Is A Buyer? (Cont’d) 00:04:58
- Managing The Purchasing Cycle 00:07:14
- Purchasing Cycle Steps 3-5 00:08:42
- Section 2 00:10:13
- Need Determination 00:10:46
- Purchase Requisition 00:15:22
- PR Creation And Approval 00:16:02
- Business Communication Model 00:20:21
- Need/Description - Specification 00:22:16
- Statement of Work (SOW) 00:24:15
- Section 3 00:26:54
- A New Dimension 00:27:10
- Skill Sets 00:31:18
- Commodity Management 00:36:51
- Understanding Supplier/Source Selection 00:38:41
- Section 4 00:41:51
- Tools 00:42:22
- Impacted By Inventory Costs 00:43:14
- ABC/Pareto/80-20 Rule 00:49:07
- Analysis & Execution 00:51:33
- Systems Contracting 00:57:43
- Intent of Price/Cost Analysis 01:01:36
- Introduction to Price/Cost Analysis 01:03:03
- Defining Price and Cost Analysis 01:04:32
- Cost Analysis 01:05:21
- Price Analysis 01:08:06
- Comparison Techniques 01:09:49
- Comparison Cont’d 01:11:31
- Comparison Cont’d 01:12:35
- Comparison Cont’d 01:14:50
- Doing Cost Analysis 01:16:35
- Cost Elements 01:18:33
- What is Negotiation? 01:20:14
- Model of Negotiation Process 01:21:19
- Overview Of The Negotiation Process 01:24:07
- Problems in Negotiating 01:26:40
- Comparison - Negotiation and Collaboration 01:29:19
- Collaborative Relationships 01:31:00
- Transforming The Relationship 01:33:01
- Who Uses What And Why? 01:34:41
- Supplier Rating Report 01:37:23
- Focus Resources For Improvement 01:39:59
- Recap 01:41:58
- Q&A 01:44:25
- Presentation Closing 01:46:18
- 80-20/Pareto Rule 00:49:22
- ASCM - Association for Supply Chain Management 00:05:05
- Buyer 00:01:31, 00:03:51, 00:19:37, 00:27:38, 00:55:28, 01:34:58
- Cost 00:44:43, 01:06:28, 01:12:51, 012:19:19
- Cost Analysis 00:42:43, 01:01:36, 01:05:01, 01:05:29, 01:16:42
- Direct Costs 01:17:09, 00:18:45
- Distribution Requirement Planning (DRP) 00:10:46
- Inventory 00:14:09, 00:43:28
- Invoice 00:08:38
- Material Requirements Planning (MRP) 00:10:46, 00:48:49
- Price Analysis 00:42:43, 01:01:36, 01:04:42, 01:08:09
- Procurement 00:03:58, 00:27:19, 00:43:33, 00:46:08
- Purchase Order 00:07:37
- Purchase Requisition 00:04:39, 00:07:28, 00:15:22
- Statement of Work (SOW) 00:24:35
- Supplier 00:04:51, 00:05:38, 00:07:36, 00:28:31, 00:30:59, 00:34:11, 00:38:56, 00:43:04, 01:20:42, 01:35:47, 01:44:23
- Value Analysis 00:05:40, 00:52:39, 00:55:26, 01:16:05
- Virtual Management 00:31:29
80-20 Pareto Rule: The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.
ASCM - Association for Supply Chain Management: The Association for Supply Chain Management (ASCM) is the global leader in supply chain organizational transformation, innovation and leadership. As the largest non-profit association for supply chain, ASCM is an unbiased partner, connecting companies around the world to the newest thought leadership on all aspects of supply chain.
Buyer: Someone whose job is to choose and buy the goods that a store will sell
Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location
Cost Analysis: The primary reason for conducting cost analysis is generally to determine the true (full) costs of each of the programs under analysis (services and/or products). You can then utilize this knowledge to: Identify and prioritize cost-saving opportunities.
Direct Costs: Direct costs are expenses that directly go into producing goods or providing services, while indirect costs are general business expenses that keep you operating. Examples of direct costs are direct labor, direct materials, commissions, piece-rate wages, and manufacturing supplies.
Distribution Requirement Planning (DRP): Distribution Requirements Planning (DRP) is the process of determining the right quality of finished goods to be sent to each distribution center or warehouse in order to meet customer demand. During DRP, customer and forecasted demand are translated into purchase orders. This process depends on actual demand signals such as customer orders as those orders are used to plan the gross requirements of the supply source.
Indirect Costs: Indirect costs are costs that are not directly accountable to a cost object. Indirect costs may be either fixed or variable. Indirect costs include administration, personnel, and security costs. These are those costs that are not directly related to production. Some indirect costs may be overhead. Examples of indirect costs are production supervision salaries, quality control costs, insurance, and depreciation.
Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
Invoice: An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice.
Material Requirements Planning (MRP): Material requirements planning (MRP) is a system that helps manufacturers plan, schedule, and manage their inventory during the manufacturing process.
Price Analysis: Price Analysis is the process of deciding if the asking price for a product or service is fair and reasonable, without examining the specific cost and profit calculations the vendor used in arriving at the price. It is basically a process of comparing the price with known indicators of reasonableness.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Purchase Order: A legal contract between a buyer and a vendor. It lists the materials or services to be purchased on specified terms and conditions (quantity, price / pricing conditions, delivery date).
Purchase Requisition: A purchase requisition is a document used as part of the accounting process to initiate a merchandise or supply purchase. By processing a purchase requisition, appropriate controls can monitor the legitimacy of a purchase, as well as identify the business need for the products.
Statement of Work (SOW): A statement of work is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. It defines project-specific activities, deliverables, and timelines for a vendor providing services to the client.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Value Analysis: The systematic and critical assessment by an organization of every feature of a product to ensure that its cost is no greater than is necessary to carry out its functions.
Virtual Management: Virtual management, is the supervision, leadership, and maintenance of virtual teams.