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Procurement Best Practice

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Procurement Best Practice

“A penny saved is a penny earned – Benjamin Franklin” This statement has for a long time been the driver of many companies in regards to their cost structure and their targets set for the procurement/purchasing divisions. But is this true?

This course will lay the foundation of good procurement practices while at the same time touch base on tying the procurement function into strategy and long-term supplier relationships.

The principal focus of the course will not only be on traditional procurement practices for, eg, cost models, setting up supplier KPIs but also on establishing a framework for conducting procurement exercises as well as creating insights on value creation.

You should today be a buyer or new manager who has been working within procurement or purchasing whether direct or indirect categories. You should see yourself as an individual who has been focusing on reducing costs and leveraging volumes but also now seen the opportunity of capturing value.

This program equips procurement managers with a structured framework to conduct procurement exercises, which factors to consider when capturing value from procured services/products and also a next step platform on how to positioning the importance of procurement and the cost it creates.

After this course, you will be able to apply the processes, skills, and tools that are fundamental to the success of the world’s leading procurement organizations.

You will be able to achieve double-digit cost savings and form productive business partnerships with your stakeholders.

You will learn how to develop business-driven procurement strategies. By becoming an advanced negotiator, you will be able to ensure your suppliers deliver the best value to your business.

Procurement Best Practice course is based around a series of activities and focusses on “learning by doing” to ensure you convert all the learning to back-in-the-office business opportunities.

You might be interested in other Purchasing and Contract Management programs as a next step.

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  • View Schedule
  • COURSE TYPE Practitioner
  • COURSE NUMBER
  • DURATION 4 days
  • COURSE ACCREDITED BY Local Certificate

YOU WILL LEARN HOW TO

Benefits of Attending

Significantly increase cost savings using best practice procurement

Create value for your stakeholders, turning them into supportive business partners

Play a strategic role in your organization by developing and implementing procurement strategies

Consistently deliver the best value to your business through effective supplier relationships

Become an advanced negotiator – effectively apply the ten negotiation maxims

IMPORTANT COURSE INFORMATION

Certificate

Students will receive Strategic Axis professional certificate accredited by UAE Government.

COURSE OUTLINE

Modules:

Module 1: Procurement – From Zero

Why cost saving is still the focus in business

What is best practice procurement?

How to exceed your procurement goals

Making procurement a business leader

Identifying your key stakeholders’

How to speak their language

How to apply win-win to your relationships

Analysing stakeholders’ objectives

Kraljic product portfolio matrix

Why are we always busy with less important things?

Strategies and actions to optimize savings opportunities

Policies and efforts to maximize business value opportunities

Module 2: Strategic Suppliers

Supplier preferencing matrix

When you might need a motivated supplier

Building win-win relationships

Developing the Strategic Procurement Plan

Fundamentals of supply contracts

Why suppliers’ costs keep going down

Knowing your suppliers’ true prices

The total cost of ownership – Knowing your organization’s true cost

Why risk is so important

Risk management tools

Module 3: e-Procurement

Welcome to the future

Data visibility

Operational performance

e-Catalogues

e-Auctions

Module 4: Supplier Selection

Managing stakeholder input

Getting stakeholder buy-in

Focussing on business objectives

Building the Balanced Scorecard

RFP, RFQ, and RFI process

Selecting the right supplier

Why ethics are important to you and your organization

Examples of ethical challenges

Why sustainability is important to you and your organization

What is a procurement strategy?

Types of strategy

How to build your strategy

How to sell your strategy

Module 5: Developing the Strategic Procurement Decisions

  • Make / Buy Decision
  • Vertical Integration
  • Alliances and Partnerships
  • Inter-company Trade
  • Reciprocity and CounterTrade
  • Supplier Strategy
  • The Coordination Strategy
  • The Purchasing Organisation

Module 6: Dealing with Operational Procurement Decisions

  • Selecting the most Appropriate Ordering Process
  • Addressing Quality Issues
  • Follow-up
  • Overdue Orders
  • Expediting
  • The Payment Process
  • Reducing the Cost of Procurement: Small Value Purchase Orders
  • The Different Contingency Situations
  • Contingency Management
  • Spend Analysis
  • Supplier Performance Measurement

Module 7: Procurement Negotiation

Focussing on objectives

Applying BATNA/LIM/ZOPA

What to hide from the other party

What to share with the other party

How to ask questions and listen to answers

Getting what you need – Turning objectives into variables

Managing negotiation concessions

Secret body language

Psychology of persuasion – Logic, emotions, and threats!

The ten negotiation maxims and how to apply them

  • In The Classroom

  • Live, Online

  • Private Team Training

  • Indiviual Private Session

Please Register for More Information

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