Strategic Vendor Selection and Management

Course Objectives

• Identify and reduce procurement risk through development of a plan of action
• Enable improved performance from your existing suppliers through evaluation and performance measurement
• Understand and strengthen your supply chain
• Improve operating relationships within your organization
• Award contracts on the basis of measured performance/criteria
• Provide a working understanding of the Negotiation process

Target Audience

• Purchasing professionals
• Those involved in defining the specification and evaluating supplier performance
• Those involved in preparing and analyzing bids
• Those with an involvement in supplier relationships
• Those whose role involves negotiation with outside agencies

Methodology

Combined interactive presentations, case studies, participant activities and exercises to maximize the impact of the learning experience. Delegates will have ample time to consider the ideas and apply the skills discussed. The training seminar will cover both practical and theoretical aspects of purchasing.

Course Modules

• Module 1: What is the Role of Purchasing in the Company
• Module 2: Developing the Purchasing Strategy
• Module 3: Selecting the Right Supplier & Evaluating Performance
• Module 4: Vendor management and it’s importance
• Module 5: Tendering and Analyzing the Bid
• Module 6: Negotiating the Contract and Preparing a Plan of Improvement Action for Purchasing
• Module 7: The revolution of IOT and Industry 4.0