The Successful Buyer: Mastering Strategic Procurement Event, 04.May.2025

Course Description

This intensive 5-day course is designed to equip new and aspiring buyers with the essential skills and knowledge needed to excel in procurement. Participants will learn strategic purchasing techniques, negotiation tactics, supplier management, and ethical practices. Through a combination of theoretical concepts and practical exercises, attendees will gain the confidence and expertise to become successful buyers in today's competitive business environment.

Learning Objectives

• Understand the fundamental principles of strategic procurement and its impact on organizational success
• Develop effective negotiation skills to secure favorable terms and pricing
• Learn best practices for supplier selection, evaluation, and relationship management
• Master the art of contract management and risk mitigation in procurement
• Gain insights into ethical considerations and compliance in purchasing
• Acquire practical tools and techniques for cost analysis and value creation

Course Modules

Day 1: Foundations of Strategic Procurement

• Introduction to modern purchasing concepts
• The role of procurement in organizational success
• Understanding the procurement cycle
• Key performance indicators for buyers
• Ethical considerations in purchasing

Day 2: Supplier Management and Selection

• Supplier evaluation and selection criteria
• Building and maintaining supplier relationships
• Supplier performance management
• Risk assessment and mitigation strategies
• Sustainable and responsible sourcing

Day 3: Negotiation Strategies and Techniques

• Principles of effective negotiation
• Preparation and planning for negotiations
• Negotiation tactics and counter-tactics
• Managing difficult negotiations
• Post-negotiation analysis and learning

Day 4: Contract Management and Legal Aspects

• Key elements of procurement contracts
• Contract terms and conditions
• Managing contract performance and disputes
• Legal and regulatory compliance in procurement
• Intellectual property and confidentiality considerations

Day 5: Cost Analysis and Value Creation

• Total cost of ownership analysis
• Value engineering and value analysis techniques
• Cost reduction strategies
• Leveraging technology in procurement
• Measuring and reporting procurement performance

Practical Wins for Participants

• Develop a strategic sourcing plan for a real-world scenario
• Create a supplier scorecard and performance evaluation system
• Conduct a mock negotiation session with feedback
• Perform a cost analysis and identify potential savings opportunities