Strategic Procurement and Effective Vendor Negotiation Skills

Purchasing is a process. Purchasers should be exposed to the necessary specific steps taken at each stage to ensure the maximum benefit for their organization. This course will focus on the important challenge faced by those responsible for making purchases that is establishing and maintaining their reputation as a strong and experienced buyer. Buyers will also discover skillful ways to make suppliers appreciate their business and reduce the burden of administrative paperwork. This course will also help participants learn masterful negotiating and purchasing techniques used by the most sophisticated and effective buyers in the business. Finally as a buyer you will sound like a professional no matter what you are buying.

  1. Introduction to Procurement
    • Define the 5 objective of procurement
    • The procurement process
    • Single sourcing and multi sourcing
    • The purchasing cycle time
    • Types of purchase
    • Group discussion
  1. Effective Purchasing System
    • 7 key elements of an effective purchasing system
    • Inspect shipments
    • How to resolve deviations to your satisfaction
    • Purchasing techniques to improve company’s profitability
    • Reduce organization’s cost of doing business
    • Price and cost analysis methods
    • How to avoid problem areas that can raise the true cost of inventory
    • Identifying your BATNA
    • Case study
  1. Vendor Development program
    • Effective vendor development program
    • Vendor qualification
    • Vendor selection
    • Vendor evaluation
    • Vendor development
    • Vendor certification
    • Listing of supplier sources
    • Techniques and procedures for locating and evaluating new suppliers
  1. Negotiate Optimum Price, Quality and Service
    • 6 questions to ask after receiving a price quote
    • Negotiating techniques
    • How to increase your buying power?
    • 4 negotiating advantages by dealing on the phone
    • When to make concessions
    • Avoid being intimidated by technical salespeople
    • Role Play
  1. Strategies & Tactics for Skillful Negotiation
    • Ensuring best price and service
    • How to be a good negotiator
    • Discover the most powerful negotiating tool
    • Strategies for negotiating on the telephone
    • Active and passive bargaining tactics

Register Here

  • Date : 19/12/2022
  • Time : 9:00 am - 5:00 pm (Asia/Kuala_Lumpur)

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Strategic Procurement and Effective Vendor Negotiation Skills
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