Strategic Procurement Management

Procurement Management plays a vital role in the profitability and success of every organization. How procurement is managed and run will significantly influence the organization’s bottom line. This 1-day procurement management training program aims to provide Purchasing personnel with the knowledge to be efficient, effective and ultimately, to acquire materials and services at the best price without compromising expected quality. It highlights how a procurement team can help to increase productivity and achieve great savings through effective purchasing strategy.

At the end of this procurement management training, participants should be able to:

• Understand the strategic importance of procurement;
• Obtain up-to-date negotiations techniques and effective guides in preparing a negotiation;
• Master the cost reduction process and techniques in procurement;
• Develop competency and commitment in cost reduction responsibilities;
• Improve the procurement functions and contribute to organisation's efficiency, productivity and profitability.

1. Definition of Procurement

• Roles and responsibilities of procurement

2. Negotiation In Procurement

• What to negotiate?
• Negotiation techniques

3. Cost reduction process

• ABC cost reduction analysis
• Direct materials cost reduction
• Indirect Materials Cost Reduction (MRO items)

4. Suppliers cost reduction responsibilities

• A look into the ways supplier calculate their cost

• Contract & Vendor Management
• Understanding Incoterms 2010
• Inventory Management in the Supply & Demand Chains
• Theory of Constraints in Manufacturing
• Effective Store and Warehouse Management
• More other Business Management Training Courses