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Live Webinar

90-minute live streaming program
  • August 21
  • 1:00 - 2:30 pm EST

Successful Use of Total Cost of Ownership

August 21

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.

Learning Objectives

  • You will be able to define the cost factors in total cost of ownership.
  • You will be able to describe how to use this concept in your organization.
  • You will be able to discuss total cost of ownership in supply decisions.
  • You will be able to explain true cost of international purchases.

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Why Lorman?

Over 33 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 33 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

Live Webinar Registration

  • 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.
     
  • CPE 1.8 including Production 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Production for 1.8 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for purchasing and procurement professionals, buyers, material managers, contract administrators, project managers, controllers, accountants and bookkeepers.

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Why Lorman?

Over 33 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

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 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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Why Lorman?

Over 33 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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Product ID: 407110
Published 2020
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