Strategic Procurement and Inventory Management

Program Overview

Purchasing plays an important role in the profitability and success of every business. The way the purchasing function is managed and run will greatly influence the company’s bottom line. This programme aims to provide Purchasing personnel with the knowledge to be efficient, effective and ultimately to purchase materials and services at the best prices without sacrificing quality and service. It highlights how Purchasing personnel can help to increase productivity and achieve savings through effective purchasing.

Program Objectives

Upon actively participating in this course, you will be able to:

Understand the operational, financial, and marketing strategies of procurement;

Obtain up-to-date negotiation techniques and effective guides in preparing a negotiation;

Master the cost reduction process and techniques in procurement;

Develop competency and commitment in cost reduction responsibilities;

Understand the benefits of benchmarking application in procurement management;

Master the five crucial stages of the benchmarking implementation process;

Improve the procurement functions and contribute to the organisation’s efficiency, productivity, and profitability.

Administrative Details

Methodology

• Hands-on exercises
• Group discussions
• Case studies
• Interactive storytelling
• Commentary on other companies/industries
• Video presentation

Who should attend

Purchasing Managers, Purchasing Executives, and Purchasing Officers.