Purchasing Techniques, Negotiating & Cost Reduction

In the world today it is not unusual for more than 50% of an organization’s revenue to be spent on goods and services — everything from raw materials to overnight mail. So, when the goal is to increase earnings by lowering costs, World-class organizations look closely at their purchasing strategies. Success in purchasing is dependent not only on an awareness of the potential opportunities, but more importantly, and the focus of this seminar is the knowledgeable implementation of the methods, processes, and techniques that should be utilized in order to become a leader in obtaining real supply management savings.

• How to be on the road to world-class in cost reductions
• Processes for data mining and developing strategic plans
• Methods of cost improvement
• Process for developing purchase price index
• Procedure for reporting cost improvements
• Cost Reduction vs. Cost Avoidance
• How to evaluate supplier prices
• Reducing low-value activities
• Best practices in qualifying suppliers
• The importance of planning in successful negotiations
• Approaches in negotiations
• Standards of ethics
• The importance of rating and valuing the issues in a negotiation
• Negotiating important issues in various contract clauses
• Important elements of the final preparation

This seminar is designed for:

• Procurement Managers and Purchasing Officers
• Strategic Sourcing and Category Managers
• Supply Chain Managers and Supply Chain Analysts
• Commercial and Contract Managers
• Cost Reduction and Spend Management Specialists
• Vendor and Supplier Relationship Managers
• Operations and Finance Professionals involved in procurement savings initiatives
• Tendering and Negotiation Specialists
• Project Managers responsible for procurement and supplier contracts
• Business Analysts working on cost optimization and spend analysis
• Professionals seeking to develop advanced skills in strategic procurement, cost reduction, and negotiation effectiveness