Effective Purchasing and Contract Negotiation Strategies

Overview:

Introduction:

This training program is designed to equip participants with the skills and knowledge necessary to excel in purchasing and contract negotiations. It empowers them to drive value and achieve successful outcomes in their purchasing and contract negotiation activities.

Program Objectives:

At the end of this program, participants will be able to:

• Develop strategic procurement plans aligned with organizational goals.

• Employ advanced supplier management techniques.

• Conduct successful contract negotiations.

• Navigate legal and ethical considerations in procurement.

• Measure and manage procurement performance effectively.

Targeted Audience:

• Procurement managers and officers.

• Purchasing professionals.

• Contract managers and administrators.

• Supply chain managers.

• Operations managers.

Program Outline:

Unit 1:

Fundamentals of Purchasing:

• Introduction to purchasing principles and practices.

• The role of purchasing in the supply chain.

• Procurement planning and strategy development.

• Supplier selection and evaluation processes.

• Effective purchasing practices.

Unit 2:

Strategic Supplier Management:

• Building strong supplier relationships.

• Techniques for effective supplier evaluation and selection.

• Supplier performance measurement and improvement.

• Managing supplier risks and disruptions.

Unit 3:

Advanced Contract Negotiation Techniques:

• Principles of contract negotiation.

• Preparing for negotiations: Research and strategy.

• Negotiation tactics and techniques for successful outcomes.

• Methods of Handling difficult negotiations and conflicts.

Unit 4:

Legal and Ethical Considerations in Procurement:

• Overview of legal aspects in procurement and contracting.

• Understanding contract law and its implications.

• Ethical considerations in purchasing and negotiations.

• Compliance with regulations and standards.

• Case studies on legal and ethical procurement issues.

Unit 5:

Procurement Performance Measurement and Management:

• Key performance indicators (KPIs) for procurement.

• Techniques for measuring and analyzing procurement performance.

• Continuous improvement in procurement operations.

• Benchmarking against industry standards.