The impact of skills & training on cost modeling

We asked what factors negatively impact effective cost modeling, and top overall impediment was lack of readily available cost data, at 54%; however, the remaining responses revolved around skills and training. Training budgets averaged $1,265 per FTE in 2021 (Metrics of Supply Management, CAPS Research, 2021). Revisiting training could help address the gaps in cost modeling and increase cost savings.