In today’s business world, reducing costs is critical to the success and survival of any organization. A sound purchasing strategy, combined with effective negotiation skills, can significantly impact a company’s bottom line. This 3-day course on Purchasing Techniques, Negotiating & Cost Reduction provides participants with the knowledge and tools to achieve cost reductions and improve their purchasing processes.
The course covers various aspects of cost reduction, including data mining and developing strategic plans, methods of cost improvement, purchase price index development, cost improvement reporting, cost reduction vs. cost avoidance, supplier evaluation, low-value activity reduction, best practices in supplier qualification, and the importance of planning in successful negotiations. Participants will also learn how to rate and value the issues in a negotiation, and negotiate important contract clauses. With a focus on practical application, this course will provide participants with the skills and knowledge necessary to implement cost reduction initiatives and improve their purchasing processes.
Introduction to Purchasing Techniques and Cost Reduction
Methods of Cost Improvement
Cost Reduction vs. Cost Avoidance
Planning for Successful Negotiations
Rating and Valuing Issues in a Negotiation
Negotiating Contract Clauses
The programme will be a blend of interactive lectures, group discussions, and practical exercises. The lectures will provide the participants with a comprehensive understanding of the key concepts of cost reduction and purchasing techniques. The group discussions will allow the participants to share their own experiences, ask questions, and learn from each other.
The practical exercises will give the participants the opportunity to apply what they have learned to real-life scenarios. This will help them to understand how the concepts and techniques can be used in their own work environment. The exercises will be designed to be engaging and interactive, and will provide the participants with hands-on experience in negotiating and evaluating supplier prices, reducing low-value activities, and developing purchase price indices. The trainers will be available to provide guidance and feedback throughout the exercises, ensuring that the participants are able to maximize their learning experience.