In an environment characterized by many unknowns, purchasing professionals must assist general management by providing purchasing expertise for strategic decisions. Purchasing can assist in calculating the probable impact of outside factors on supply, quality and price. Secondly, effective managers are consensus builders. Consensus is built with artful negotiation. It is not a game of compensating some "wins" with some "losses". Ultimate result is the winning of the organization by creating collaborative relationship.
Cost Reduction of attending this Training or ROI on Training: - If attendees start selecting the vendors based on TCO, they can recover the cost of the training in just one month. In fact cost of training could be a small fraction of the benefits accrued by implementing TCO. Still more big chunk of benefits are expected from "Make Vs Buy Analysis". The intangible benefits are expected from procurement strategy by using Kraljic Matrix. The quantification of tangible and intangible benefits can be monitored by increase in Inventory Turnover Ratio (ITR) for the raw material.
The Effective Purchase Management training course is designed to improve the understanding of strategic aspects of purchase function vis-a-vis developing analytical skills.
By attending Effective Purchase Management - Essentials workshop, delegates will learn to:
- Develop threadbare understanding of the importance of the purchase function and how it impacts the business as a whole
- Improve decision making skills in general
- Take decisions effectively as to how much quantity to order, when to order and why only that quantity to order
- Understand the various qualities that a good negotiator should possess
- Get hands on experience of success and failure of the negotiations
By attending Effective Purchase Management - Advanced workshop, delegates will learn to:
- Develop deeper understanding of the importance of purchase function and how it impacts the business as a whole
- Understand strategic aspects of the procurement function
- Understand how to measure performance of the purchase department
- Improve their understanding or clear their misunderstandings about Just In Time (JIT)
- Improve decision making skills on "make vs buy" items
- Understand how to audit the procurement function
For Effective Purchase Management - Advanced course:
You will get well-researched document on "Procurement Strategy". The second takeaway is on Inventory Turnover Ratio (ITR). You will have complete understanding on reduction of working capital when ITR increases.
Indigenous concept by the faculty: - In addition to the document on "Procurement Strategy", how to analyse the procurement spend is always a challenge to procurement professional. In this course, you will get exposure to multiple ways of doing procurement spend analysis. These are developed by the faculty and you will not find these in any book or website.