Learn how to identify opportunities in contracts and analyze data to help lower fixed costs.
Many companies are stuck in underperforming contracts that do nothing to help reduce costs. In far too many cases overall spending continues to grow. With the complexity of contracts today, this content will help companies understand how to look at their data, determine exactly where their dollars are being spent, and help reduce those fixed price costs. This material will also help you understand how to formulate a request for pricing as well as monitor the performance of the contract once implemented.
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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
Understanding Your Fixed Price Agreement
- Data- How to Find and Use the Proper Data to Prepare for a Renegotiation
- Benchmarking- the Importance of Determining What Type of Discounts and Reductions to Expect
- Preparing a Formal Request for Pricing (RFP)- This Will Help You Formulate an RFP That Is Easy for Your Supplier to Understand and Help You Define Exactly What Is Best for Your Company
Negotiating Your Fixed Price Contracts
- Approaching the Supplier- Timing and Best Ways to Approach Your Suppliers Regarding a Contract Negotiation
- Analyzing the Proposals- Determining What the True Savings Are, Not What the Supplier Promises Your Company Will Save, but What You Will Truly Save Based on Your Historical Data
- Determining Which Proposal Is Right for You- Each Service and Proposal Offers Unique Benefits. Tailoring a Contract Which Best Suites Your Company Can Lower Costs Significantly
Analyzing the Benefits of Your Contracts-
- Ensuring That Your Contract Performs as Expected- Knowing What to Look for to Ensure the Agreement Is Performing as Promised
- Watching for Red Flag Areas in Your Costs- Areas of Concern to Look for
- Knowing When It's Time to Renegotiate- Knowing When to Renegotiate Your Agreement Using a Variety of Factors
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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 January 18, 2024.
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.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.2
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
- NJ CLE 1.2
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.2
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 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.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- NJ CLE 1.3
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
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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
Johnny K. Telos
Transportation Audit and Recovery Services
- President/CEO of Transportation Audit and Recovery Services-TARS
- Transportation consulting company specializing in parcel audit and contract negotiations
- Conducts regular talks on the subject of contract negotiations around the country, including the ASD tradeshow in Las Vegas and eComChicago
- Winner of numerous sales awards at FedEx over 15 years, including Account Executive of the Year
- Johnny has grown his company, TARS, to over 50 million in just under 4 years
- Subject matter expert when it comes to negotiating parcel agreements with savings of his current clients averaging more than 20%
- Can be contacted at 1-855-459-TARS (8277) or [email protected]
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Credit
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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.
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