In fact, most procurements are made using price analysis since detailed cost data is not required or not available. Where cost analysis is used, price analysis must be used to support the process. Price analysis is not limited to just price comparisons among competing products. Numerous techniques are available which allow buyers to closely analyze all aspects of the seller's offer and to achieve cost-effective procurements. This course is designed to assist buyers and procurement professionals to achieve quality purchases through the use of a variety of price analysis techniques.
Price analysis is sometimes confused with price justification.
Price justification assumes that the proposed price is reasonable and provides reasons to justify it. Since the supplier's quote is seldom questioned in this approach, price justification will not usually provide the best possible price for the company. This course is designed to provide an understanding of the most advanced concepts of price analysis. It will sharpen and expand the skills of experienced practitioners and provide a solid base of knowledge and practical skills upon which less experienced personnel can build. Each attendee receives an extensive course manual including structured presentation notes, textbook, cases and exercises for use during the course and for review after course completion.