Purchasing Management

Overview:

Introduction:

This training program is designed to equip participants with the essential skills and knowledge in purchasing management. It empowers them to streamline purchasing processes and contribute to organizational success.

Program Objectives:

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

• Understand the fundamentals of purchasing management.

• Develop effective procurement strategies.

• Manage supplier relationships and performance.

• Conduct successful contract negotiations.

• Optimize inventory management and control.

Targeted Audience:

• Procurement managers and officers.

• Purchasing professionals.

• Supply chain managers.

• Operations managers.

• Anyone involved in the purchasing process.

Program Outline:

Unit 1:

Fundamentals of Purchasing Management:

• Introduction to purchasing principles and concepts.

• The role of purchasing in supply chain management.

• Purchasing process: From requisition to payment.

• Legal and ethical considerations in purchasing.

• Case studies on effective purchasing management.

Unit 2:

Procurement Strategies and Best Practices:

• Developing procurement plans and strategies.

• Sourcing and supplier selection techniques.

• Cost management and reduction strategies.

• Sustainable procurement practices.

• Risk management in procurement.

Unit 3:

Supplier Relationship Management:

• Building and maintaining strong supplier relationships.

• Supplier performance evaluation and improvement.

• Techniques for effective communication with suppliers.

• Conflict resolution and negotiation with suppliers.

• Case studies on successful supplier management.

Unit 4:

Contract Negotiation Skills:

• Principles of contract negotiation.

• Preparation strategies for successful negotiations.

• Tactics and techniques for effective negotiation.

• Managing and mitigating negotiation risks.

• Post-negotiation contract management.

Unit 5:

Inventory Management and Control:

• Fundamentals of inventory management.

• Inventory control techniques and systems.

• Demand forecasting and inventory planning.

• Just-in-time (JIT) inventory systems.

• Case studies on inventory optimization.