📌 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 Objectives
- To equip participants with a strategic understanding of the procurement function and its evolving role in enhancing organisational performance.
- To develop practical skills for optimizing procurement processes through techniques such as Just-in-Time (JIT), EOQ, and strategic sourcing.
- To build capabilities in effective vendor management, including vendor evaluation, development, and consolidation for better supplier performance.
- To enhance participants’ negotiation skills using advanced strategies, psychological insights, and real-world case studies.
- To enable effective monitoring of procurement performance using KPIs and data analytics aligned with business objectives.
- To foster continuous improvement through supplier engagement initiatives such as vendor meets, feedback mechanisms, and reward schemes.
Evolving Role of the Purchase 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
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
COURSE SCHEDULE & FEES
DOWNLOAD COURSE CONTENTS
Please click the button below to download the course content. You'll need to provide your contact information to receive the document.
INCOMPANY/GROUP TRAINING REQUEST
Why Choose Our Incompany Program?
- 🎯 Tailored content specific to your business goals
- 👥 Train entire teams together, saving time and cost
- 📍 Delivered at your location or virtually
- 📅 Flexible scheduling to suit your timelines
- 📈 Increase retention and application of skills