Introduction
This intensive 5-day program provides senior professionals with a strategic overview of purchasing and contract management. Participants learn how to draft, negotiate, and manage contracts, optimize procurement strategies, lead supplier relationships, and align purchasing with organizational goals. The course integrates real-world case studies, practical exercises, and interactive discussions to ensure immediate applicability.
Objectives
By the end of this program, participants will be able to:
- Understand and apply the principles of strategic contract and purchasing management
- Create, draft, and negotiate contracts in domestic and international contexts
- Manage supplier performance and optimize procurement strategies
- Implement modern procurement tools and best practices
- Enhance negotiation, leadership, and decision-making skills in procurement
Target Audience
- Senior buyers and procurement managers
- Contract managers and administrators
- Supply chain and sourcing professionals
- Project managers involved in procurement or contracts
- Legal advisors and compliance officers responsible for contracts
5-Day Course Outline
Day 1 – Contract Fundamentals & Creation
- Contract basics: formation, formalities, witnesses, authority
- Tendering: competitive vs single-source, framework agreements
- Contract types: fixed-price, cost-reimbursable, performance-based
- Letters of Intent, Award, Bonds, Guarantees, and Insurance considerations
Day 2 – Contract Drafting & Key Clauses
- Drafting clear and enforceable contracts
- Critical clauses: HSE, standards, indemnities, insurance, deadlines
- Liquidated damages, warranties, penalties, force majeure
- Exercises in drafting and reviewing contract clauses
Day 3 – Negotiation & Contract Management
- Negotiation techniques and preparation
- Handling disputes: arbitration, mediation, expert determination
- Contract administration: roles, document control, change management
- Payment processes, performance monitoring, and closeout
Day 4 – Strategic Purchasing & Sourcing
- Modern purchasing practices and total cost of ownership
- Category management, segmentation, and supplier evaluation
- Supplier selection: single vs multiple sourcing, global procurement
- Supplier ethics, CSR, and aligning suppliers with organizational strategy
Day 5 – Purchasing Improvement & Project Alignment
- Leading purchasing improvement programs
- Integration of procurement with organizational strategy
- Tools for project management in procurement
- KPIs, supplier performance monitoring, scenario planning
- Action planning and individual development for strategic purchasing
