Enhancing Your Purchasing Skills: Strategies for Effective Buying

Enhancing Your Purchasing Skills: Strategies for Effective Buying
Objectives:
• Understand the importance of effective buying in achieving organizational goals.
• Develop essential skills and techniques for strategic purchasing.
• Learn how to analyze market trends and negotiate with suppliers effectively.
• Explore methods for identifying cost-saving opportunities and maximizing value.
• Gain insights into supplier relationship management and vendor selection processes.
• Understand the role of technology in modern purchasing practices.
• Acquire knowledge of ethical and sustainable procurement practices.
Course Content:
Introduction to Strategic Purchasing
• Importance of strategic purchasing in organizational success
• Key principles and concepts of effective buying
• Role of purchasing in supply chain management
Market Analysis and Supplier Evaluation
• Market research and analysis techniques
• Supplier assessment criteria and vendor performance metrics
• Supplier segmentation and classification
: Negotiation Skills for Buyers
• Principles of effective negotiation
• Negotiation strategies and tactics
• Win-win negotiation techniques
Cost Analysis and Value Optimization
• Cost analysis methods and tools
• Total cost of ownership (TCO) analysis
• Value engineering and cost reduction strategies
Supplier Relationship Management (SRM)
• Importance of supplier relationships
• SRM frameworks and methodologies
• Building and maintaining effective supplier partnerships
Contract Management
• Basics of contract management
• Contract negotiation and drafting
• Contract administration and compliance monitoring
Technology in Purchasing
• Role of technology in modern purchasing practices
• e-Procurement systems and electronic sourcing tools
• Benefits and challenges of digital transformation in purchasing
Ethics and Sustainability in Procurement
• Ethical considerations in purchasing decisions
• Sustainable procurement practices and corporate social responsibility (CSR)
• Environmental and social impact assessment in supplier selection
Risk Management in Purchasing
• Identifying and assessing procurement risks
• Risk mitigation strategies and contingency planning
• Supply chain resilience and business continuity planning
Performance Measurement and Continuous Improvement
• Key performance indicators (KPIs) for purchasing
• Performance measurement and benchmarking
• Continuous improvement methodologies in purchasing operations

FOR WHOM:
Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:      13th – 16th May,            2025     

2ND BATCH:     25th- 28th Nov,                 2025