The Successful Buyer Event, 03.Mar.2025

Introductions

Effective buyers should understand how to bring about change. They must understand the impact and value they can make by having a deep understanding of how to capture the real requirements of the business; select those suppliers who are a strategic match through a robust qualification and tender process; and negotiate and prepare viable and sustainable supply contracts that add real and tangible value.

By attending this bespoke,  Successful Buyer training course, participants will develop a thorough understanding of the need to initiate processes, systems and best practice procedures to make sure that effective purchasing does not only concentrate on cost reductions; rather it focuses on supplier collaboration and the absolute requirement to enter into a contract that is deemed innovative, sustainable and will deliver efficiencies and cost saving initiatives throughout the life cycle of the contract.

Course Objectives of The Successful Buyer

• Achieve Operational Efficiency in Purchasing
• Select and Managing Suppliers
• Develop a Balanced Performance Measurement Framework that is value driven
• Evaluate Suppliers - developing key measures for a total cost and value approach
• Understand the Stages of Effective Contract and Supplier Management

The successful Buyer Course Outlines

Day 1
The Procurement Process and the Financial Impact on its Outcomes

• The Importance of Effective Purchasing
• Understanding the Procurement Strategy
• The Five Steps of the Procurement Process
• Implementing Strategies for Cost-effective Purchasing and Procurement
• Strategic Cost Management as opposed to Ad-hoc Cost Reduction
• Measuring the Impact of Cost Management initiatives on Profitability

Day 2
The Critical Elements of the Statement of Work, Scope and Specifications

• Capturing the Real Requirement of the End Users
• What a Good Specification for goods and services looks like?
• Defining Needs and Wants - Essential vs. ‘nice to have’
• Who Needs to Develop and Contribute to the Specification?
• Important Questions to ask When Developing a Specification
• Understand the Total Cost of Ownership in Relationship to the Actual Requirements

Day 3
Supplier Selection and Developing Robust Criteria for Supplier Evaluation

• Creating a Supplier Development Plan
• Developing the Criteria for Pre-Qualification
• Selecting Suppliers - A Balanced Judgment
• Using Carter’s 10 C’s as a Tool for Selection
• Price and Long Term Cost Considerations
• Analyzing Cost vs. Value

Day 4
Developing the Relevant Tender Process and Awarding the Contract to the Most Suitable Supplier

• Determining the Key Principles Underpinning all Tendering and Procurement
• The Competitive Bidding Process
• Understanding the Full Tender Process from Notice to Award
• Evidencing Capability, Reliability and Quality
• Qualitative and Quantitative Assessment, Review and Continual Improvement
• Negotiating the Deal

Day 5
Fundamentals of Contract Management

• The Importance of Contract Management
• Principles and Concepts around Contract Management
• The Contract Management Process
• Contractual Risk - How it is created?
• Critical Success Factors for Effective Contract Delivery
• Managing Contract Performance