Course Summary
Strategic procurement practices are essential for organisations seeking to optimise their supply chain and enhance overall operational efficiency.
This approach involves a holistic and forward-thinking strategy in sourcing goods and services to meet organisational objectives. Effective strategic procurement goes beyond mere cost considerations; it involves assessing supplier capabilities, fostering long-term partnerships, and mitigating risks in the supply chain.
This practice encompasses market analysis, supplier segmentation, and implementing technology-driven solutions for streamlined procurement processes. By aligning procurement with broader organisational goals, businesses can leverage their purchasing power, negotiate favourable contracts, and drive innovation in the supply chain. Strategic procurement practices contribute to cost savings and enhance resilience, agility, and competitiveness in a dynamic business environment.
During this course, you’ll learn:
- To understand the significance of strategic procurement and its alignment with corporate strategy.
- To effectively oversee suppliers, encompassing selection, relationship cultivation, performance enhancement, and risk mitigation.
- To implement strategic sourcing and category management principles within procurement processes.
- To demonstrate proficiency in negotiation and contract management within the procurement domain.
- To stay informed about upcoming trends in strategic procurement, such as digitalization and sustainability, and develop a comprehensive strategic procurement plan.
This course is designed for anyone responsible for managing procurement relationships or creating an effective and profitable supply chain. It would be most beneficial for:
- Procurement Managers
- Business Owners
- Supply Chain Managers
- Project Managers
- Financial Managers
- Executives
- Procurement Professionals
- Risk Assessors
- Business Consultants
- Business Relationship Managers
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will view trainer-led presentations to understand all elements of an effective procurement department and the most essential skills required to maintain an effective and profitable supply chain.
They will work in groups to conduct role-playing activities to enhance their negotiation skills to secure high-end contracts and undergo scenario training to help them keep stakeholders on side when an issue occurs. They will have the opportunity to review real-world case studies to understand the impacts of mutually beneficial procurement relationships to help them select the best suppliers for their future organisations.
Course Content & Outline
Section 1: How Important is Strategic Recruitment to the Business?
- Identifying key talent acquisition strategies.
- Aligning recruitment with organisational goals.
- Building employer branding for strategic hiring.
- Leveraging technology in the recruitment process.
- Effective use of social media for talent acquisition.
- Diversity and inclusion in strategic recruitment.
- Employee retention as a strategic recruitment outcome.
- Adapting to market trends in recruitment.
- Measuring and evaluating recruitment success.
- Legal and ethical considerations in strategic hiring.
- Continuous improvement in recruitment strategies.
Section 2: Building Effective Supplier Relationships
- Understanding supplier dynamics.
- Implementing collaborative supply chain practices.
- Risk management in supplier relationships.
- Supplier performance metrics and evaluation.
- Contractual agreements and legal considerations.
- Ethical sourcing and corporate responsibility.
- Leveraging technology for efficient supplier management.
Section 3: Product Sourcing & Category Management
- Strategic approaches to sourcing.
- Supplier selection and evaluation.
- Principles of category management.
- Market analysis and demand forecasting.
- Effective negotiation strategies.
- Contract management in sourcing.
- Supply chain optimization techniques.
- Technology applications in category management.
- Sustainability considerations in sourcing.
- Risk management in supply chain categories.
- Performance metrics and key performance indicators (KPIs).
- Adapting to market trends in sourcing.
Section 4: Negotiation & Communication Skills
- Communication strategies with suppliers.
- Negotiation skills for successful partnerships.
- Essential principles of effective negotiation.
- Strategic communication strategies.
- Building trust and rapport in negotiations.
- Active listening and questioning techniques.
- Non-verbal communication mastery in negotiations.
- Tactical preparation for successful negotiations.
- Conflict resolution and managing difficult situations.
- Achieving mutually beneficial outcomes.
- Ethical considerations in negotiation practices.
- Negotiating across diverse cultural contexts.
- Leveraging technology in communication and negotiation.
- Tailoring communication to various stakeholders.
- Optimising negotiation team dynamics.
Section 5: Future Trending Analysis of Procurement Practices
- Technological advancements impacting procurement.
- Sustainability and green procurement practices.
- Digitalization of procurement processes.
- Strategies for supplier diversification.
- Agile methodologies in procurement.
- Data analytics and predictive procurement.
- Globalisation and international procurement trends.
- Ethical and social procurement strategies.
- Risk management in future procurement.
- Industry 4.0's influence on procurement.
- Innovations in procurement technology.
- Building resilience and adaptability in procurement.
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