Advanced Procurement Strategies Training

Introduction:

This Advanced Procurement Strategies course aims to enhance the capabilities of procurement professionals, including Procurement Managers, Senior Buyers, and other key purchasing personnel within organizations. Participants will delve into advanced negotiation and procurement techniques, business continuity, and contingency planning for procurement, gaining insights into the strategic positioning of procurement departments. The emphasis is on leveraging procurement strategy to maximize cost reduction in the supply chain.

The Advanced Procurement Strategies program allows procurement leaders to develop key skills in conflict management, time management, and embracing change. It offers practical tools and guidance grounded in best practices for achieving world-class procurement performance. Procurement strategies play a critical role in the supply chain efficiency.

This Advanced Procurement Strategies course lays the foundation for obtaining an Advanced Procurement Strategies certification by focusing on developing, implementing, and innovating procurement strategies. Participants will explore various procurement strategies, including innovation and supplies, and learn to create a robust strategy framework that benefits the organization. This module will clarify procurement strategies and the benefits of a well-defined one and offer guidance on the strategic development of procurement within the supply chain.

Targeted Groups:

• Procurement Managers and Senior Managers.
• Procurement Professionals.
• Purchasing Managers.
• Senior Buyers.
• Buyers.

Targeted Competencies:

Participants competencies in this Advanced Procurement Strategies training will:

• Supply risk mitigation.
• Critical supply strategies for the future.
• Performance-Based Service Contracts.
• Advanced negotiation techniques.
• Striving for an optimal supply base size.
• Transforming supplier relationships.
• Activity-Based Costing.
• Change Leadership.
• Communication Leadership.
• Negotiation Countermeasures.
• Advanced methods of negotiation control.

Course 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.
• Discuss the current forces of change shaping effective procurement strategies.
• Create rapport, build trust, and establish credibility in workgroups.
• Acknowledge the importance of communication for successful workgroups.
• Develop skills for managing good supplier relationships.
• Understand business continuity and contingency planning for procurement.
• Learn the category segmentation process.
• Plan successful negotiations incorporating different approaches.
• Examine ethical standards within the procurement.
• Assess supplier performance and rating.
• Evaluate suppliers' strengths and weaknesses.
• Elevate their recognition within the organization through improved performance.
• Enhance their skills in advanced procurement stages.
• Develop capabilities in procurement professionals that boost competence, skill, and morale.

Course Content:

Unit 1: Performance Purchasing:

• Role of purchasing in organizational success.
• Influence of the Supply Chain.
• External environmental factors.
• Structure of Purchasing Organizations.
• The complete Procurement Cycle.
• Implementing effective Purchasing Systems.
• Exploring Critical Supply Strategies.
• Mastery of the Category Segmentation Process.

Unit 2: The Supplier Relationship:

• Transforming the Supplier Relationship.
• Specifications.
• Working with end-users.
• Supplier Evaluation Criteria.
• Appropriate Supplier Methodologies.
• Total Cost Approach.
• Defining the Organization's Mission In Building Supplier Relationship.
• How to be A Good Customer?
• Communication, Trust, and Credibility as Key Elements.
• Shrinking the Supplier Base.

Unit 3: Advanced Negotiation Skills:

• Avoiding Confrontational Negotiating.
• Developing Active Listening Skills.
• Negotiating with an Angry Person.
• Dealing with Back Door Selling.
• Power Closes that are used on the Buyer.
• Understanding the other Negotiator's Power.
• Negotiating Pressure Points.
• Negotiating with Untrustworthy Counterpart.
• Negotiation Tactics and Countermeasures.

Unit 4: Leadership Skills for Procurement Personnel:

• Effective communication techniques: verbal, non-verbal, and written.
• Reducing stress through productive communication methods.
• Building trust through open communication and interaction.
• Recognizing and adapting to interpersonal interaction methods.
• Understanding the response to change and perceptions thereof.
• Preparing for human reactions in times of change.

Unit 5: Advancing Procurement Contribution:

• Attract And Retain Supply Management Talent.
• Supplier Measurement.
• Vendor Rating.
• Steps In Developing Performance-Based Contracts.
• Action Planning.
• Business Continuity and Contingency Planning for Procurement.
• What Is Activity-Based Costing?
• Price Cost and Value.
• Ways that Advanced Procurement Can Improve the Organisation's Finances.

Unit 6: Strategic Sourcing and Category Management:

• Introduction to the benefits, definition, and process of strategic sourcing.
• Understanding category management approach, benefits, and challenges in procurement.
• The role of cross-functional teams in strategic sourcing and category management.
• Importance of market intelligence in strategic sourcing decisions.

Unit 7: Negotiation and Contract Management:

• Mastering negotiation strategies in procurement: Preparation, techniques, and deal-closing.
• Developing and managing contracts with knowledge of types, components, and legalities.
• Implementing and understanding the challenges of Performance-based contracting.
• Resolving conflicts in contract management through effective techniques and practices.