Current segment
Segment 7.3 Achieving Competitive Pricing in Procurement and Supply
Segment 7.3 Achieving Competitive Pricing in Procurement and Supply
Knowledge: Will know and understand | Capabilities: Will be able to |
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The use of competition to obtain quotations on prices |
Promote the use of competitive pricing with suppliers through monitoring prices and obtaining quotations when appropriate |
The comparison of quoted prices to historical data |
Compare historical prices with newly quoted prices, evaluate the reasons for any significant discrepancies and take appropriate actions to secure competitive pricing |
The link between costs, prices, margins and mark ups |
Analyse available data and indices on the costs, prices, margins and mark ups of submitted prices in order to negotiate competitive prices |
The use of open-book costing and adjustments |
Evaluate data supplied through open-book arrangements and take actions to remedy any queries or discrepancies |
The role of negotiation to improve prices |
Negotiate with suppliers to reduce prices, whilst retaining or improving other aspects of value such as quality, availability and sustainability |
The value of estimating whole-life costs |
Analyse the whole-life costs of purchased goods or services and take actions to reduce or avoid ongoing costs |
The use of competition to obtain quotations on prices
Promote the use of competitive pricing with suppliers through monitoring prices and obtaining quotations when appropriate
The comparison of quoted prices to historical data
Compare historical prices with newly quoted prices, evaluate the reasons for any significant discrepancies and take appropriate actions to secure competitive pricing
The link between costs, prices, margins and mark ups
Analyse available data and indices on the costs, prices, margins and mark ups of submitted prices in order to negotiate competitive prices
The use of open-book costing and adjustments
Evaluate data supplied through open-book arrangements and take actions to remedy any queries or discrepancies
The role of negotiation to improve prices
Negotiate with suppliers to reduce prices, whilst retaining or improving other aspects of value such as quality, availability and sustainability
The value of estimating whole-life costs
Analyse the whole-life costs of purchased goods or services and take actions to reduce or avoid ongoing costs
This segment was last updated on: 21st May 2021