Course description
This course aims to provide a comprehensive understanding of strategic procurement, focusing on key elements such as supplier management, strategic sourcing, negotiation, and contract management. We will also discuss future trends, including digitalization and sustainable procurement. By the end of the course, you will be equipped with the knowledge and skills to develop and implement an effective strategic procurement plan in your organization.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This course is ideal for:
- Procurement professionals aiming to enhance their strategic thinking and decision-making skills.
- Managers and executives involved in strategic planning and decision making related to procurement.
- Business students specializing in supply chain management or related fields.
- Consultants advising businesses on procurement strategies.
- Business owners seeking to improve their procurement practices for competitive
Outcome / Qualification etc.
Upon completion of this course, attendees should be able to:
- Understand the concept and importance of strategic procurement and align it with corporate strategy.
- Manage suppliers effectively, including selection, relationship building, performance improvement, and risk management.
- Apply strategic sourcing and category management principles in procurement.
- Negotiate effectively and manage contracts in procurement.
- Understand future trends in strategic procurement, including digitalization and sustainability, and prepare a strategic procurement plan.
Training Course Content
Day 1
Understanding Strategic Procurement
- Introduction to Strategic Procurement: Definition, importance, and evolution.
- The role of strategic procurement in an organization's success.
- Alignment of procurement strategy with corporate strategy.
- The strategic procurement process: From needs assessment to contract management.
Day 2
Supplier Management and Relationship Building
- Identification and selection of suppliers: Criteria and strategies.
- Building and managing supplier relationships: Communication, performance monitoring, and dispute resolution.
- Supplier development and performance improvement.
- Supplier risk management: Identification, assessment, and mitigation.
Day 3
Supplier Management and Relationship Building
- Identification and selection of suppliers: Criteria and strategies.
- Building and managing supplier relationships: Communication, performance monitoring, and dispute resolution.
- Supplier development and performance improvement.
- Supplier risk management: Identification, assessment, and mitigation.
Day 4
Negotiation and Contract Management
- Negotiation strategies in procurement: Preparation, techniques, and closing.
- Developing and managing contracts: Types of contracts, key components, and legal considerations.
- Performance-based contracting: Objectives, implementation, and challenges.
- Conflict resolution in contract management: Techniques and best practices.
Day 5
Future Trends in Strategic Procurement
- Impact of digitalization on strategic procurement: Automation, AI, and blockchain.
- Sustainable procurement: Strategies, benefits, and challenges.
- Skills for the future: Essential competencies for strategic procurement professionals.
- Developing a strategic procurement plan: Steps, considerations, and presentation.
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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,...