The Advanced Procurement Strategies

Introduction:

This Advanced Procurement Strategies course is designed to enhance the capabilities of procurement professionals, including Procurement Managers, Senior Buyers, and key purchasing personnel. Participants will explore advanced negotiation skills, business continuity, and contingency planning in procurement, understanding the strategic role of procurement departments. The course emphasizes leveraging procurement strategies to achieve significant cost savings within the supply chain.

The program helps procurement leaders develop skills in conflict management, time management, and adapting to change. It provides practical tools and best practices for achieving top-tier procurement performance and underscores the importance of procurement strategies in supply chain development.

The course also prepares participants for The Advanced Procurement Strategies by focusing on creating, implementing, and innovating procurement strategies. It covers various procurement strategies, including innovation and supplier management, and provides guidance on developing a robust strategy framework for organizational growth.

Objectives:

Participants in this Advanced Procurement Strategies course will be able to:

• Review critical supply strategies in supply chain management.
• Comprehend the concepts of activity-based costing.
• Analyze recent and emerging market developments, economic trends, political influences, demographic changes, and technological advancements affecting procurement approaches.
• Establish rapport, trust, and credibility within workgroups.
• Appreciate the role of communication in teamwork.
• Transform suppliers into valuable business partners.
• Understand business continuity and contingency planning in procurement.
• Master category segmentation processes.
• Prepare for and conduct successful negotiations using various methods.
• Discuss ethics and professional conduct in procurement.
• Evaluate and classify suppliers.
• Assess supplier performance and identify areas for improvement.
• Enhance visibility and performance within the organization.
• Develop competencies in advanced procurement stages.
• Implement training strategies to improve competence, skill, and morale in procurement professionals.

Training Methodology:

• Case studies
• Group discussions
• Hands-on activities
• Simulation exercises
• Role-playing scenarios
• Interactive workshops
• Assessments and feedback

Course Outline:

Unit 1: Performance Purchasing

• Position of purchasing within organizational hierarchy
• Managing supplier relationships
• Factors from the external environment
• Relationship structure of purchasing function
• Full procurement cycle
• Effectively managed purchasing systems
• Dynamics in supply array
• Effective use of category segmentation

Unit 2: The Supplier Relationship

• Restructuring supplier relationships
• Buyer-supplier interactions
• Criteria for supplier assessment
• Supplier selection processes
• Cost factor methods
• Objectives across competition management
• Communicating trust and credibility
• Reducing the number of suppliers

Unit 3: Advanced Negotiation Skills

• Confrontational negotiating
• Active listening
• Negotiating with difficult parties
• Handling back door selling
• Understanding negotiating power
• Pressure point negotiation
• Tactics for negotiating with dishonest counterparts
• Negotiation strategies

Unit 4: Leadership Skills for Procurement Personnel

• Communication techniques: email, face-to-face, and written
• Reducing stress through communication
• Building trust through interaction
• Handling interpersonal relations
• Adapting to organizational change

Unit 5: Advancing Procurement Contribution

• Developing supply management competency
• Supplier performance measurement and appraisal
• Creating performance-based contracts
• Action plans and cost management
• Impact of advanced procurement on organizational bottom line

Unit 6: Strategic Sourcing and Category Management

• Goals and advantages of strategic sourcing
• Category management in procurement
• Role of cross-functional teams
• Market intelligence in strategic sourcing

Unit 7: Negotiation and Contract Management

• Negotiation management techniques
• Conducting and administering contracts
• Performance-based contracting challenges
• Conflict resolution in contract management