Procurement, Contracts & Supply Chain

Advanced Purchasing Techniques & Cost Reduction Strategies

Elevate your procurement skills with our comprehensive 5-day course covering advanced purchasing techniques, negotiation mastery, and strategic cost reduction approaches

Duration

5 Days

Credits

5 per day

Mode

Full-time

Provider

Blackbird Training Centre

Course Overview

Course Description

This intensive 5-day course equips procurement professionals with advanced skills in purchasing techniques, negotiation strategies, and cost reduction. Participants will learn to optimize procurement processes, master negotiation tactics, and implement effective cost-saving measures to drive organizational value and efficiency.

Learning Objectives

Develop advanced purchasing strategies and techniques
Master negotiation skills for securing favorable terms
Implement effective cost reduction and supplier management strategies
Optimize procurement processes and leverage data-driven insights
Enhance strategic decision-making in procurement

Course Modules

Day 1: Advanced Purchasing Techniques

Strategic sourcing and category management
Supplier evaluation and selection methodologies
E-procurement systems and digital transformation
Risk management in procurement

Day 2: Negotiation Mastery

Negotiation preparation and planning
Advanced negotiation tactics and techniques
Managing complex negotiations
Post-negotiation evaluation and relationship management

Day 3: Cost Reduction Strategies

Identifying cost drivers and savings opportunities
Total Cost of Ownership (TCO) analysis
Implementing cost reduction initiatives
Measuring and reporting cost savings

Day 4: Supplier Relationship Management

Developing strategic supplier partnerships
Supplier performance measurement and improvement
Collaborative cost reduction with suppliers
Managing global supply chains

Day 5: Data-Driven Procurement

Leveraging data analytics in procurement
Key Performance Indicators (KPIs) for procurement excellence
Implementing continuous improvement processes
Future trends in procurement and supply chain management

Practical Wins for Participants

Develop a strategic sourcing plan for a key category
Create a negotiation strategy for an upcoming supplier contract
Identify and quantify potential cost savings in your organization
Design a data-driven procurement dashboard for decision-making

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