Strategic Purchasing Management: Strategies for Effective Procurement

Objectives:
• Understand the role and importance of strategic purchasing management in organizational success.
• Learn best practices and techniques for optimizing the procurement process.
• Develop skills to effectively source, negotiate, and manage supplier relationships.
• Gain insights into cost-saving strategies and risk management in procurement.
• Explore the use of technology and data analytics in purchasing decision-making.
• Understand ethical considerations and compliance requirements in purchasing management.
• Learn how to align purchasing strategies with organizational goals and objectives.
Course Content:
Introduction to Strategic Purchasing Management
• Importance of strategic purchasing in organizational performance
• Evolution and trends in purchasing management
• Role of purchasing in supply chain management
Strategic Sourcing
• Strategic sourcing process and methodology
• Supplier segmentation and selection criteria
• Make vs. buy decisions and outsourcing strategies
Negotiation Techniques
• Principles of effective negotiation
• Negotiation strategies and tactics
• Relationship-building and collaborative negotiation
Supplier Relationship Management (SRM)
• Importance of supplier relationship management
• Supplier performance measurement and evaluation
• Supplier development and collaboration initiatives
Cost Management and Value Optimization
• Total cost of ownership (TCO) analysis
• Cost-saving strategies and value engineering
• Pricing models and contract management
Risk Management in Procurement
• Identifying and assessing procurement risks
• Risk mitigation strategies and contingency planning
• Supplier risk management and business continuity
Technology in Purchasing
• Role of technology in procurement process automation
• E-procurement systems and digital transformation
• Data analytics and predictive analytics in purchasing
Ethical and Legal Considerations
• Ethical principles and standards in purchasing
• Compliance requirements and regulatory frameworks
• Anti-corruption measures and fair business practices
Performance Measurement and KPIs
• Key performance indicators (KPIs) for purchasing management
• Metrics for measuring procurement performance
• Dashboard reporting and performance tracking
Aligning Purchasing Strategies with Organizational Goals
• Strategic alignment of purchasing with business objectives
• Linking purchasing strategies with corporate strategy
• Role of purchasing in achieving competitive advantage

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:        2nd – 4th Apr,    2025     

2ND BATCH:       7th – 10th Oct, 2025