Strategic Purchasing and Contract Management in the Modern Business Environment

Objectives:
• Understand the evolving landscape of purchasing and contract management in modern businesses.
• Learn strategic approaches to procurement and contract negotiation.
• Explore best practices for supplier selection, evaluation, and relationship management.
• Develop skills to mitigate risks and ensure compliance in purchasing and contracting processes.
• Gain insights into the use of technology and data analytics for efficient purchasing and contract management.
• Understand the importance of sustainability and ethical considerations in procurement practices.
• Learn how to optimize cost savings and value creation through effective purchasing and contract strategies.
Course Content:
Overview of Modern Purchasing and Contract Management
• Evolution of purchasing and contract management practices
• Importance of strategic procurement in modern businesses
• Trends and challenges in purchasing and contract management
Strategic Procurement Planning
• Strategic sourcing methodologies
• Make-or-buy decisions and outsourcing strategies
• Developing procurement strategies aligned with organizational goals
Supplier Selection and Evaluation
• Supplier identification and prequalification
• Supplier performance metrics and evaluation criteria
• Supplier relationship management (SRM) principles
Contract Negotiation and Management
• Principles of effective contract negotiation
• Key contract terms and conditions
• Contract lifecycle management (CLM) processes
Risk Management in Purchasing and Contracting
• Identifying and assessing procurement risks
• Risk mitigation strategies and contingency planning
• Legal and regulatory compliance in procurement activities
Technology and Digital Transformation
• Role of technology in modern procurement
• E-procurement systems and tools
• Data analytics for procurement decision-making
Sustainable Procurement Practices
• Environmental and social considerations in procurement
• Sustainable sourcing and ethical supply chain management
• Certification and compliance standards (e.g., ISO 20400)
Cost Optimization and Value Creation
• Total cost of ownership (TCO) analysis
• Value-based procurement strategies
• Cost reduction and value enhancement techniques
Performance Measurement and Continuous Improvement
• Key performance indicators (KPIs) for procurement and contracting
• Performance monitoring and reporting
• Continuous improvement methodologies (e.g., Lean, Six Sigma

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:      28th – 30th Apr,                  2025     

2ND BATCH:     11th – 14th Nov,                 2025