COURSE OVERVIEW
Purchasing plays a critical role in influencing an organization’s profitability and overall success. Today, it has evolved into a strategic competency, requiring firms to identify, develop, and collaborate with suppliers while leveraging specialized expertise that adds substantial value. This Advanced Purchasing and Cost-Saving Strategies training program is designed to equip participants with practical knowledge and techniques to optimize purchasing operations and reduce departmental costs effectively.
LEARNING OBJECTIVES
Upon completion of this course, participants will be able to:
- Understand the strategic importance of the purchasing function
- Conduct thorough and accurate supplier evaluations
- Implement effective negotiation strategies with suppliers
- Recognize the significance of value analysis in purchasing
- Enhance the efficiency and impact of the purchasing department
TARGET AUDIENCE
This program is ideal for professionals across industries and various purchasing functions, including:
- Buying, Purchasing, Procurement, Commercial, Tenders, Contracts, Finance, Engineering, Projects, Construction, Public Sector
The course is especially suited for individuals focused on maximizing profits, minimizing costs, and managing time efficiently, such as:
- Buyers and Senior Buyers
- Purchasing Supervisors and Managers
- Professionals involved in negotiations with external agencies
- Those seeking to enhance supplier performance
TRAINING METHODOLOGY
This results-driven program follows adult learning principles, blending engaging lectures with structured lessons from the training manual. Participants will benefit from interactive PowerPoint presentations, videos, practical exercises, group discussions, and action planning. Ample time is allocated for Q&A, and pre- and post-course assessments will gauge learning outcomes.
COURSE CONTENT
Module 1 – Strategic Role of Purchasing
- Pre-Test
- Aligning Purchasing with Organizational Strategy
- Developing a Purchasing Mission Statement
- Balancing Quality, Service, and Cost
- Key Objectives of the Purchasing Function
- Understanding Purchasing Strategy
- Five-Step Purchasing Process
Module 2 – Supplier Evaluation and Negotiation
- Negotiation Techniques with Suppliers
- Understanding Power Dynamics in Negotiation
- Negotiation Planning
- Reaching Effective Supplier Agreements
- Supplier Performance Evaluation Criteria
- Building Strong Supplier Relationships
- Developing Strategic Supplier Partnerships
- Selecting the Right Suppliers
Module 3 – Value Analysis
- Defining Effective Specifications for Goods and Services
- Differentiating Needs vs. Wants (Essential vs. “Nice to Have”)
- Collaborative Specification Development
- Critical Questions in Specification Design
- Enhancing Purchasing Productivity
- Adding Value as a Purchasing Professional
Module 4 – Managing and Evaluating Department Performance
- Centralization vs. Decentralization
- Department-Level Performance Assessment
- Supervising and Managing Other Buyers
- Key Performance Indicators (KPIs) for Purchasing
Module 5 – Enhancing Purchasing Efficiency
- Managing Internal Stakeholders
- Conducting Surveys to Improve Performance
- Effective Internal and External Communication
- Ethical Conduct with Suppliers and End Users
- Ethical Practices Within the Department
- Developing and Implementing Purchasing Policies and Procedures
