INTRODUCTION FOR STRATEGIC PROCUREMENT AND EFFECTIVE VENDOR MANAGEMENT & NEGOTIATION SKILLS

In order to improve company profitability and ability to drive up market share, the demand for an effective and efficient procurement management is a pre requisite. Key competencies in area of cost control, applying strategic strategy to manage supplies and the negotiation of the most advantageous benefits to the company is extremely important.

This program promotes the key competencies in strategic procurement strategies, the technique of managing cost saving activities and handling effective negotiation in order for managing an efficient and effective  procurement system in the company.

COURSE OBJECTIVE

By the end of the 14 hours by 4 session interactive online session, the learning curve achieve will enable the following:-

• UNDERSTAND the strategic sourcing role of procurement in business operation
• IDENTIFY The type of strategy to be in place to manage the procurement system
• DEVELOP action plan to implement suppliers management strategies
• CARRY OUT risk assessment and take action to overcome to ensure supplies are not disrupted
• MANAGING negotiation effectively as a procurement person

WHO MUST ATTEND

This training program is highly recommended for employees involve in the managing of the supply chain function in the company, for example, personnel from procurement, warehouse, logistics and planning department and finance.

METHODOLOGY

This training will involve the following area to enhance learning:

• Power point presentation
• Case studies & Brain storming session
• Discussion on subject of learning
• Facilitating by trainer to enhance understanding of subject matter

COURSE CONTENT

Module 1 – The Role of Procurement & Purchasing

• Definition of Purchasing versus Procurement
• Role of Purchasing versus Procurement
• Job Function of Purchasing and Procurement
• Cycle of Procurement
• Key Fundamental to Effective and Efficient Procurement

Module 2 – Strategic and Tactical Objective and Goal of Procurement

• Definition of Strategic and Tactical
• The Ps , Qs and Rs of Procurement
• Key Objectives of Procurement and Purchasing
• Strategic Role of Procurement
• Tactical Role of Procurement

Module 3 – Supplier Sourcing, Management and Cost Evaluation

• Strategic Sourcing Strategy and the different level of sourcing
• Competitiveness Model for strategic procurement system
• Value Chain creation in procurement
• Supplier Quality Management
• Supplier Relationship Management
• Supplier Performance Management
• Supplier Management Process Cycle
• Cause and Effect Technique (5 Why and 1 How) for problem evaluation
• Strategic Cost Evaluation with Should Costing
• Strategic Cost Analysis for best pricing
• Price Analysis versus Cost Analysis
• Supplier Segmentation Management
• Understand suppliers traits
• Key suppliers strategies to manage change
• Breakout room discussion

Module 4 – Managing Smart Negotiation

• Integrative Negotiation
• Distributive Negotiation
• Contract Negotiation
• Stages of Negotiation
• SWOT analysis
• Competitiveness model
• Deciding red lines in negotiation
• Knowing your opponent traits
• The Soft Negotiator
• The Principled Negotiator
• The Hard Negotiator
• Traits of a good negotiator
• Bad Negotiator habits
• Mistakes made in Negotiation
• Body language in negotiation
• Understand when to walk away
• Managing Reject and counter offer
• Dealing with difficult negotiators
• Influential techniques
• WATNA strategies
• BATNA strategies
• Break out room discussion and role ply

Module 5 – Preventing Procurement disruption – Third Party Risk Management

• Definition of 3^rd party risk management
• Cycle of 3^rd party risk management
• Securing supplies with 10 C selection and evaluation
• Conducting audit and key areas of audits
• Suppliers managing strategies

Module 6 – Strategic and Operational Risk Management in Procurement Management

• Definition of Strategic and Operational Risk Management
• Strategic Risk Assessment
• Operational Risk Management
• Conducting Competitiveness Analysis
• Fraud Management
• Preemptive technique to avoid disruption
• Case study – Where are your company operation in term of ensuring undisrupted supplies of inventory?
• Post test x 20 questions

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