Savings Strategy Development

Learn to develop a world-class savings and sourcing strategy

2116 member reviews

Competency: Sourcing
CEH's: 8

Your CEO wants to know: "Are you executing a sourcing strategy for cost savings or are you just 'winging it'?" Could you respond by producing a top-notch written strategy? If not, our highly personal and interactive online class "Savings Strategy Development" can help you.

You will learn a systematic method of establishing a cost savings strategy in your organization. Your plan will be comprehensive, covering everything from analyzing your spend to strategic sourcing to continually improving cost savings processes. You'll also understand many nuances of how to write an RFP within the context of a step-by-step sourcing process.

You will learn:

  • How to identify sourcing and savings opportunities by analyzing your spend
  • How to define several types of savings and avoidances
  • How to define and calculate several types of cost savings and cost avoidances
  • How to find and take advantage of easy cost savings opportunities
  • How to achieve cost savings by leveraging existing supplier relationships
  • How to negotiate savings without straining a supplier relationship
  • How to diligently manage costs by utilizing the Producers Price Index and developing your own Supplier Price Index
  • How to get everyone to apply the same, proven approach to cost savings by implementing The Ten Phase Approach To World-Class Sourcing
  • How to track the progress of your sourcing strategy
  • How to determine a methodology and strategy when writing an RFP
  • How to write an RFP that is aligned with the final contract
  • How to write an RFP that achieves the perfect balance of standardization and customization
  • How to write an RFP that is aligned with evaluation scorecards
  • How to write an RFP that ensures equitable ("apples-to-apples") supplier comparisons
  • How to write an RFP with an optimized supplier response format
  • How to report cost savings in a way that will be embraced by executive management

How this online course works

  • You can start this on-demand course any time after you enroll; there's no pre-scheduled start date!
  • You progress through the course at your own pace, accessing easy-to-understand reading material, exciting exercises, optional multimedia, quizzes, and even a fun mid-term game!
  • You will have access to a friendly, expert instructor for any questions you may have!
  • You will learn best practices and processes designed so that you can apply your new skills in the real world!

To learn more about how full-length online procurement courses
from the Next Level Purchasing Association work, click on the short video below.

What are others saying about this course?

Purchasing Best Practices - Learn 14 Purchasing Best Practices

"This is the course I would highly recommend to everyone whose responsibilities include spending his/her organization's money whether in private or public sector. This course shows you how to achieve cost savings by becoming a world class strategist. I have definitely gained recognition within my institution after I have started to apply the techniques learned from this course"

John Habonimana, SPSM
Procurement Specialist
Kigali, Rwanda

Ready to enroll?

Enroll in just this course

Enroll in the Senior Professional in Supply Management® Program

If you want to learn how to analyze your spend and continually improving cost savings processes, then enroll in "Savings Strategy Development". The course "Savings Strategy Development" is one of the six online courses that count towards SPSM® Certification. Thinking about pursuing your certification? Then, now might be the time to enroll in the Senior Professional in Supply Management® Program, which gives you all you need to become certified, including "Savings Strategy Development."
Bonuses for enrolling by deadline below: Bonuses for enrolling by deadline below:
Length of course: 6-8 hours Length of program: 44-48 hours (on average)
Duration of access to course: 60 days Duration of access to program: 1 year
Course start date: Access begins as soon as you enroll Program start date: Access begins as soon as you enroll

The deadline for the pricing and bonuses listed above is April 30, 2016.

Interested, but have a few questions?

For immediate assistance, call our office at +1 (412) 294-1990 and speak with a member of the NLPA Team,
Monday through Friday from 8AM to 5PM Eastern US Time.

Click on the button below to submit your questions electronically and a member of the NLPA team will
contact you within one business day.