5 ways to reduce costs
Round table session held on 4 August 2020
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About the session
Price, cost and value may be three different things, but negotiating cost down will clearly be on the agenda for post-crisis meetings with many of your suppliers.
For the suppliers, their fixed costs are, well, fixed, and will have to be amortised over reduced sales volumes. Prices will have to increase, and with fewer competitors in some markets, their customer’s bargaining power may be reduced. When Government support and subsidies dry up, suppliers will need to recover lost profits, even losses, and that means a round of COVID-inspired price rises. Whatever category you manage, we can expect that buyers will face a new challenge of how to get costs down when suppliers are explaining that “we’re all in this together” translates as “we need price rises in excess of inflation just to restore our margins to what they should have been."
How can procurement practitioners release value and drive COST reductions in ‘new normal’ markets of fewer alternatives, rising prices and supply shortages? Join Paul Rogers FCIPS as he outlines FIVE field-proven ways to get your costs under control. Joining Paul is PASA host Jonathan Dutton FCIPS who will also share the occasional insight. Attendees will also receive a field guide to reducing cost.
Your expert presenter
Paul Rogers FCIPS is one of the most experienced procurement consultants, trainers and facilitators in the country, and has previously been a professional buyer during turbulent times and high inflation. Just one of his latest contributions is the bestselling book “Sales v Procurement” with Elliott Epstein. http://www.paulrogers.pro/