Course Overview
Course Description
This intensive 5-day course provides a comprehensive overview of essential procurement management skills. Participants will gain practical knowledge in strategic sourcing, negotiation techniques, risk management, and supplier relationship management. Through interactive sessions and real-world case studies, attendees will develop the expertise needed to drive value and efficiency in procurement operations.
Learning Objectives
- Develop and implement effective procurement strategies
- Master negotiation techniques for optimal supplier agreements
- Identify and mitigate procurement-related risks
- Enhance supplier relationship management skills
- Apply ethical practices in procurement processes
- Leverage technology to streamline procurement operations
Course Modules
Day 1: Foundations of Procurement Management
- Introduction to procurement management
- The procurement cycle and key processes
- Stakeholder management in procurement
- Legal and ethical considerations
Day 2: Strategic Sourcing and Category Management
- Principles of strategic sourcing
- Category management fundamentals
- Spend analysis and opportunity assessment
- Developing sourcing strategies
Day 3: Negotiation Skills for Procurement Professionals
- Negotiation preparation and planning
- Effective negotiation techniques
- Managing complex negotiations
- Post-negotiation implementation and follow-up
Day 4: Risk Management in Procurement
- Identifying and assessing procurement risks
- Risk mitigation strategies
- Supplier risk management
- Contract risk management
Day 5: Supplier Relationship Management and Technology
- Supplier performance management
- Building strategic supplier relationships
- E-procurement and digital transformation
- Data analytics in procurement
Practical Wins for Participants
- Develop a strategic sourcing plan for a key category
- Create a risk management framework for procurement operations
- Design a supplier performance scorecard
- Implement a negotiation strategy for a complex procurement scenario
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