This specialized training program, designed by Global Horizon Training Center, equips professionals in procurement and supplier management with industry-leading best practices for optimizing supplier relationships and effectively managing procurement contracts. Attendees will gain insights into the principles of supplier evaluation, negotiation tactics, risk mitigation, and contract management. This course will enable participants to develop a strategic, value-oriented approach to supplier partnerships that contribute to long-term organizational success.
By the end of this course, participants will be able to:
Understand the strategic role of supplier management in organizational success.
Develop skills to evaluate, select, and manage suppliers based on performance metrics.
Apply negotiation techniques for favorable contract terms.
Implement best practices in contract formulation and administration.
Manage supplier risks and ensure compliance with contractual obligations.
Align supplier performance with organizational goals and sustainability standards.
Utilize data analysis for monitoring supplier performance and contract fulfillment.
The program will use a mix of lectures, case studies, group discussions, role-playing exercises, and practical workshops. Real-world scenarios and examples will help reinforce concepts, allowing participants to apply their learning directly to their roles. Interactive sessions and peer feedback will further enhance the learning experience, promoting collaboration and active engagement.
Upon completion, organizations will benefit from:
Enhanced supplier relationships leading to better pricing and terms.
Improved contract management processes that minimize risks and legal issues.
Higher standards of compliance, quality control, and supplier accountability.
Cost savings through effective negotiation and contract administration.
Greater alignment between procurement activities and strategic goals.
This program is ideal for:
Procurement and sourcing professionals
Supplier relationship managers
Contract managers and administrators
Supply chain professionals
Project managers involved in procurement activities
Senior professionals seeking to enhance supplier management strategies
Day 1: Foundations of Supplier Management
Introduction to Supplier Management: Role and Importance
Understanding Procurement in the Context of Organizational Strategy
Key Metrics and KPIs for Supplier Evaluation
Day 2: Supplier Selection and Evaluation Techniques
Criteria for Supplier Selection: Cost, Quality, Reliability
Developing a Supplier Evaluation Framework
Supplier Audits and Site Visits
Day 3: Supplier Relationship Management (SRM)
The SRM Process: Building and Maintaining Supplier Relationships
Strategic Partnerships vs. Transactional Relationships
Communication and Collaboration with Suppliers
Day 4: Negotiation Techniques for Procurement Professionals
Preparing for Negotiations: Market Analysis and Supplier Knowledge
Techniques for Achieving Win-Win Outcomes
Common Pitfalls in Supplier Negotiations and How to Avoid Them
Day 5: Procurement Contracts: Structure and Key Elements
Essentials of Contract Law in Procurement
Elements of an Effective Contract: Terms, Scope, Deliverables
Customizing Contracts for Different Types of Suppliers
Day 6: Contract Drafting and Administration
Drafting Clear and Comprehensive Contracts
Contract Administration: Tracking Milestones, Deliverables, and Amendments
Effective Recordkeeping and Documentation
Day 7: Risk Management in Supplier Relationships
Identifying and Assessing Supplier Risks
Risk Mitigation Strategies: Contingency Planning and Insurance
Managing Supplier Defaults and Disruptions
Day 8: Ensuring Compliance and Ethical Standards
Compliance with Legal and Regulatory Standards
Ethical Standards in Supplier Management
Corporate Social Responsibility (CSR) and Sustainability in Procurement
Day 9: Performance Management and Continuous Improvement
Supplier Performance Measurement and Feedback
Continuous Improvement in Supplier Relationships
Tools for Monitoring and Reporting on Supplier Performance
Day 10: Technology and Innovation in Supplier Management
Leveraging Technology for Supplier Management: Digital Tools and Platforms
Trends in Supplier Management: AI, Automation, and Analytics
Developing an Action Plan: Applying Best Practices in the Workplace