Introduction
In today’s fast-paced business environment, procurement plays a crucial role in driving cost efficiency and supply chain resilience. This workshop is designed to equip purchase executives with methodologies to optimize procurement processes, enhance vendor relationships, and leverage digital tools for better decision-making.
Participants will gain deep insights into modern procurement trends, negotiation techniques, and best practices from industry leaders. With a focus on actionable takeaways, this session will empower attendees to drive business value through strategic sourcing and supplier management.
Course Content
Evolving Role of the Purchas e Function
- Traditional vs. Modern Procurement Practices
- Transitioning Procurement to a Strategic Role
- Procurement’s Contribution to Supply Chain and Business Performance
Procurement Optimization & Strategic Sourcing
- Just-In-Time (JIT) Procurement: Enhancing Operational Efficiency
- Economic Order Quantity (EOQ): Modern Interpretation & Application
- Effective Strategic Sourcing & Procurement Planning
Vendor Management Excellence
- Vendor Selection & Evaluation Best Practices
- Vendor Development: Key Value Drivers
- Vendor Rationalization & Consolidation Strategies
Performance Monitoring & Supplier Engagement
- Delivery Performance Metrics & Optimization
- Volume Flexibility & Demand-Driven Procurement
- Conducting Vendor Meets & Strengthening Relationships
Supplier Recognition & Continuous Improvement
- Vendor Reward Schemes for Enhanced Collaboration
- Conducting Vendor Satisfaction Surveys for Performance Feedback
- Implementing Actionable Strategies for Long-Term Improvements
Advanced Purchase Negotiation Techniques
- Negotiation psychology and behavioural insights
- Effective negotiation strategies for cost optimization
- Managing complex supplier negotiations and multi-party agreements
- Leveraging data analytics to support negotiation decisions
- Case studies, Best practices and real-world negotiation scenarios
Key Performance Indicators (KPIs) for Procurement
- Measuring Procurement Effectiveness
- Aligning Procurement KPIs with Business Objectives
- Using Data Analytics for Performance Enhancement
Timings: 10:00 am – 5:00 pm, Registration begins at 9:30 am