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Training Course: Supplier Management and Procurement Contracts: Best Practices


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PU235640

30 Dec - 10 Jan 2024

London (UK)

Hotel : Landmark Office Space - Oxford Street

Cost : 8400 € Euro

Introduction

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.

Objectives

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.

Course Methodology

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.

Organizational Impact

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.

Target Audience

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

Outlines

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

Purchases & Stores

Training Course: Supplier Management and Procurement Contracts: Best Practices


Register Now
Quick Inquiry
Discount Group Download Brochure  

PU235640

30 Dec - 10 Jan 2024

London (UK) - Landmark Office Space - Oxford Street

Hotel : Landmark Office Space - Oxford Street

Cost: 8400 € Euro


  About London

The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.


  Things to do and places to visit in London

With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.

Some unmissable London attractions include:

  • Seeing priceless masterpieces in the Tate Britain or the National Gallery.
  • Watching the changing of the guard at Buckingham Palace.
  • Visiting Trafalgar Square's famous monument.
  • Marveling at the Crown Jewels in the Tower of London.
  • Getting a bird's eye view of the city from the London Eye.
  • Tasting one of Brick Lane's famous curries.
  • Browsing the exclusive shops of Knightsbridge.
  • Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
  • Admiring design from around the world in the Victoria and Albert Museum.
  • Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
  • Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
  • Eating Britain's most famous dish, fish and chips.
  • Watching the street performers in Covent Garden.
  • Enjoying the views at a South Bank cafe.
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