Introduction

Purchasing Management plays a crucial role in the efficient functioning of any organization’s supply chain. Effective management of purchasing processes not only ensures cost-efficiency but also enhances supplier relationships and overall operational performance. This comprehensive 5-day training program is designed to equip participants with the essential skills and knowledge needed to excel in Purchasing Management, covering everything from strategic sourcing to contract management and continuous improvement.

Objectives

• Understand the fundamentals of Purchasing Management and its strategic importance within supply chain operations.

• Learn the role and responsibilities of a Purchasing Manager in driving organizational success through effective procurement strategies.

• Master key techniques for strategic sourcing, supplier relationship management, and negotiation.

• Gain insights into cost analysis, pricing strategies, and contract management to optimize purchasing decisions.

• Develop proficiency in inventory management, logistics, and risk mitigation to ensure smooth supply chain operations.

• Apply performance metrics and continuous improvement methodologies to enhance purchasing effectiveness and efficiency.

Target Audience

• Purchasing Managers looking to enhance their skills and knowledge in procurement strategies and supplier management.

• Supply Chain Professionals involved in purchasing, procurement, and logistics operations.

• Business Owners and Managers are responsible for procurement decisions and cost management.

• Anyone interested in pursuing a career in Purchasing Management or seeking to strengthen their understanding of supply chain dynamics.

Outline

Day 1: Introduction to Purchasing Management

• Overview of Purchasing Management

• Importance in Supply Chain Management

• Role and Responsibilities of a Purchasing Manager

• Strategic Sourcing and Vendor Selection

• Supplier Relationship Management

Day 2: Procurement Process and Procedures

• Procurement Planning and Budgeting

• Purchase Requisition and Approval Process

• Request for Proposal (RFP) and Tendering Process

• Negotiation Techniques in Purchasing

• Contract Management and Legal Aspects

Day 3: Cost Analysis and Pricing Strategies

• Total Cost of Ownership (TCO) Analysis

• Cost Benefit Analysis and Value Engineering

• Price Forecasting and Market Analysis

• Pricing Strategies and Discounts

• Managing Price Escalations and Cost Reduction Techniques

Day 4: Inventory Management and Logistics

• Inventory Control Methods and Techniques

• Just-in-Time (JIT) Inventory System

• Warehouse Management and Optimization

• Transportation and Logistics Management

• Risk Management in Supply Chain

Day 5: Performance Metrics and Continuous Improvement

• Key Performance Indicators (KPIs) in Purchasing

• Supplier Performance Evaluation

• Lean Procurement and Six Sigma in Purchasing

• Continuous Improvement Techniques

• Case Studies and Best Practices