STRATEGIC PROCUREMENT & COST REDUCTION TECHNIQUES

Course Objectives

• Learning the changing roles and responsibilities of Procurement
• Understanding the Operational strategies, Financial strategies and Marketing strategies of Procurement
• Obtaining up-to-date negotiations techniques and effective guides to preparing a negotiation
• Learning the seven critical mistakes in negotiation you should avoid
• Mastering the cost reduction process techniques in Procurement
• Knowing the purchasers’ and suppliers’ cost reduction responsibilities
• Increasing your knowledge on:
  o ABC cost reduction analysis
  o Procurement cost analysis
  o Direct materials cost reduction
• Indirect materials (MRO) cost reduction
• Developing procurement personals’ competency and commitment in cost reduction responsibilities

Target Audience

Procurement Managers, Procurement Executives, Procurement Officers, Professional Buyers, Materials Managers, Materials Executives, Production Planning Executives, Inventory Control Managers, Inventory Control Executives, Administrative Managers, Entrepreneurs, all personnel involved in company procurement

Methodology

Real-life examples and exercises will be used during the workshop to stimulate learning and to make workshop interactive and exciting

Course Modules

Module 1: Definition of Procurement
Module 2: Procurement, Profitability, and Added Value
Module 3: Negotiation in Procurement
Module 4: Cost Reduction Techniques