Proven Techniques of Cost Management in Advanced Procurement
This course delves into proven techniques for cost management in advanced procurement, exploring key concepts like strategic vs. operational procurement, cost management vs. cost reduction, and gross margin improvement (GMI).
Professional Certificate
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1 hour 30 minutes
6 Lessons
6 Quizzes
Exclusive SCMDOJO Cetificate
4.8/5 (4 Reviews)
18 Students Enrolled
This course provides a comprehensive understanding of advanced cost management techniques within the procurement function. It explores the key distinctions between strategic and operational procurement, delves into the nuances of cost management versus cost reduction, and introduces the concept of Gross Margin Improvement (GMI). You’ll learn how to create effective cost management budgets, identify and mitigate potential cost increases, and implement strategies for achieving cost savings. The course also emphasizes the importance of strategic procurement in aligning with overall business objectives and achieving competitive advantage.
Why Learn with Manoj:
Manoj fervently advocates for innovation and excellence in Supply Chain Management and Procurement.
He is a thought leader with 30 years of working experience in various industries like Project, Pharma, Engineering etc as a Supply Chain Head.
Manoj is passionate about creating smart, bespoke strategies for purchasing and procurement.
Beyond my role of leading Supply Chain Function, I am deeply involved in mentoring and training professionals in the supply chain world through institutions like BLUEOCEAN CORPORATION, DUBAI, and ISM USA.
He is a BE Mechanical by qualification with a Post Graduate Diploma in International Business and Materials Management. He is a Lead trainer for CIPP, CIPM, CISCP, and CISCM Courses of Blue Ocean Corporation.
What you'll learn
- Strategic vs. Operational Procurement: Understand the key differences between strategic and operational procurement and their impact on cost management.
- Cost Management vs. Cost Reduction: Differentiate between cost management and cost reduction, and learn how to implement strategies for both.
- Gross Margin Improvement (GMI): Explore the concept of GMI and its significance in enhancing profitability.
- Cost Management Budgeting: Learn how to create and manage budgets effectively to control costs and mitigate risks.
- Cost Increase Management: Develop strategies for identifying, analyzing, and managing potential cost increases.
- Proven Cost Reduction Techniques: Discover and implement various techniques for reducing costs across the supply chain.
- Strategic Procurement KPIs: Learn to measure and track key performance indicators (KPIs) to evaluate the effectiveness of procurement strategies.
Course Content
What's Included
- Immediate unlimited access to course materials
- 30-day money-back guarantee
- Exercises and quizzes to help you put theory into practice
- English Closed Captions
- Full transcripts in PDF for each lesson
- Suitable for mobile or desktop
- SCMDOJO Certification when you pass the course quiz (accessible from Learning Center post-sign-in)
Requirements
- Access to Internet
- Computer / Laptop / Mobile Device
Earn a sharable certificate
- Showcase on your LinkedIn Profile under the "Licenses & certifications" section
- Download or print out as PDF to share with others
- Share as PDF online to demonstrate your skill
- The certificate's authenticity can be confirmed online using a QR code

Why people choose SCMDOJO?
I think that your Academy content is very good. Easy to understand, regardless your professional level and experience. Your Academy has a very complet ... Read more
Luis Eduardo SierraMiami-Fort Lauderdale AreaSCMDOJO’s courses are exceptional. Over the past year, I’ve completed nine courses and found the content highly practical and up-to-date. The teaching ... Read more
Abhishek SurIndiaIt has been more than five years since I started following Dr. Muddassir and SCMDOJO. I consider myself blessed to have access to SCMDOJO, its content ... Read more
Ketan BhamareIndiaSCMDOJO features an amazing range. It has a full suite of practical, proven, real world tools and techniques which will equip the supply chain communi ... Read more
Susan RandallUnited KingdomI discovered SCMDOJO when I was finishing my master's in supply chain management. At that time, SCMDOJO was a key resource to extend my learning outsi ... Read more
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Reviews and Ratings
4.8
/5 from 4 Reviews
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Great explanations of goals and types of procurement. Solid advice on how to navigate and succeed through the frustrating aspects of finance departments and corporate settings.
Great course to understand more how to monitor cost management
excellent demonstration on gross margin improvement
Theory was covered very well. I think that the case study needs to explained with supporting calculation to reaffirm the understanding
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