Explore the cost factors to use in building your total cost of ownership templates and support selecting the best source of supply.
For many years supply management focused on just the price of materials and supplies they purchased. Often, they were pressured to select the lowest price offering. Unfortunately, often this decision led to late deliveries, nonconforming materials, and added workload. TCO made its entrance into the business world over twenty years ago. However, many supply professionals still struggle in their efforts to identify the cost factors to use in building their TCO templates. This topic explores these factors as well as new costs that organizations incur in today's business world. Total cost of ownership impacts supply demographics, transportation costs, inventory levels, supply base decisions, and true material costs. The goal of TCO is to support selecting the best source of supply even if the price of goods is higher.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Total Cost of Ownership - Who, What, When, Why, and How
- TCO Defined
- Evolution and Importance
- Examples and Best Practices
The Impact on Procurement Decisions
- Low Cost Supply Sources
- Total Landed Cost
- Lowest Ultimate Supply Sources
- TCO and Decision
Total Cost of Ownership
- Identification of TCO Cost Factors
- What Makes Up TCO
- TCO Templates
- Examples of TCO in Action
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on August 21, 2020.
Call 1-866-352-9540 for further credit information.
- CPIM/CFPIM/CSCP 1.0
- This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
- ISM 1.5
- Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Marilyn Gettinger
New Directions Consulting Group
- Owner of New Directions Consulting Group
- Developer and presenter of programs that educate participants on how to improve supply and logistics processes
- Has been teaching logistics including exporting and importing for Union and Middlesex County Colleges as well as for the County College of Morris for several years
- Her global and supply chain courses have also been brought in-house in organizations and she has presented for several of the big freight forwarding companies located in the New Jersey area
- Her supply chain management programs include a focus on global sourcing and logistics along with the successful management of the importing and exporting processes
- Has spoken on capturing total landed costs in a global environment at conferences held by the Association of Supply Chain Management (APICS)
- Conducts regular seminars and workshops on supply chain management including logistics, supply management logistics, inventory management, importing and exporting
- Author of Supply Chain Management and Total Cost of Ownership
- Member of APICS and Director of Education of the Institute for Supply Management-New Jersey Affiliate
- Can be contacted at 908-709-0656 or [email protected]
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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