Course description
Success in purchasing is dependent not only on an awareness of the potential opportunities, but more importantly, is the knowledgeable implementation of the methods, processes, and techniques that should be utilised in order to become a leader in obtaining real supply management savings through negotiations and understanding cost reduction
Purchasing Techniques, Negotiation and Cost Reduction training course will provide the skills for negotiating in purchasing and provide the skills to reduce costs, as business organizations throughout the world focus very carefully at their purchasing strategies to increase earnings and reduce costs.
Thecourse will provide all the knowledgeable implementation of the methods, processes that can be utilized to become a leader in efficient supply management and increase savings through negotiation and cost reduction.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
Purchasing Techniques, Negotiation and Cost Reduction Training course , is ideal for :
- Contracts, Purchasing, and Procurement Personnel
- Engineering, Operational, Project, and Maintenance Personnel
- Those who are involved in the planning, evaluation, preparation and management of purchasing, tenders, contracts that cover the acquisition of materials, equipment, and services
Outcome / Qualification etc.
At the end of thePurchasing Techniques, Negotiation and Cost Reduction training course , you will be able to :
- Examine the key features in spend profiles
- Evaluating costing reduction opportunities
- Understanding supplier pricing structures
- Apply purchasing strategic plans
- Develop common approaches in planning for negotiations
- Understanding the efficient methods for cost reductions
- Methods of creating Purchase price index
- Techniques for assessing supplier prices
- Evaluation cost reduction techniques
- Techniques of negotiation and common approaches
- Understanding and implementing the purchasing strategic plans
Training Course Content
Day 1
Modern Methods in Cost and Productivity
- Understanding and implementing a cost reduction model
- Understanding the concept of “Pareto Optimality” and its application on cost reduction
- Analysing the spending and how to manage/control
- Understanding the concept of “Total cost of ownership model”
- Methods of cost reduction
Day 2
Opportunities for Cost Reduction
- Company purchasing price index and comparison to external index
- Pricing of suppliers and understanding of the supplier marketplace
- Best practises in cost reduction
- Understanding the concept of “Resisting price increase” and supplier performance measurement and further methods of cost saving
Day 3
Methods for Evaluation of Price
- Methodology of price analysis
- Evaluation of price and price reduction
- Different elements of cost analysis
- How much “Should Cost”? actual price vs selling price vs buying price
Day 4
Skills for Successful Negotiation
- Methods / techniques for preparation before negotiation
- How to determine the issues and “Rating” and “Valuing” issues
- Methods/ techniques of persuasion
- Methodology of “Win-Win” situation
Day 5
SWOT Analysis
- Determination of the strengths and weaknesses
- Concept of “BATNA”- best alternative to a negotiated agreement
- Preparation of the negotiation team
- Tips and training for actual negotiation
- Workshop training where trainees will create a negotiation model and discussion of results to provide hands on opportunity
- Review of the course and “Question and Answer session”
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...