London Training For Excellence Purchasing Techniques Negotiation and Cost Reduction London Training For Excellence
Price: USD 4,900
Instructor led live virtual classroom online. Classes may be individual or in group.

Course details

Overview
In the world today it is not unusual for more than 50% of an organization's revenue to be spent on goodsand services; everything from raw materials to overnight mail. So when the goal is to increase earnings bylowering costs World-class organizations look closely at their purchasing strategies. Success in purchasing is dependent not only on an awareness of the potential opportunities but more importantly and the focus ofthis seminar the knowledgeable implementation of the methods processes and techniques that should beutilized in order to become a leader in obtaining real supply management savings.

Objective
By the end of the training programeach participant will be able to:
Learn to win in negotiations.
Taught by a consultant with years of actual experience in negotiations with suppliers and buyers as well as an expert in the implementation of cost reduction programs.
A Fast paced course with group and individual exercises to provide experience with the techniques presented.
Receive a cost reduction reporting procedure and a template for a purchased material/service strategic plan.

Who Should Attend
Contracts, Purchasing, and Procurement personnel
Engineering, Operational, Project, and Maintenance personnel
All others who are involved in the planning, evaluation, preparation and management of purchasing tenders, and contracts that cover the acquisition of materials, equipment, and services, and who are in organizations whose leadership want high levels of competency in those involved in theseactivities.

Course Outlines
Day 1 - Continuous Improvement in Cost and Productivity
The Need For Change
How Do Other Functions View Purchasing
A Purchasing Savings Model
Total Cost Of Ownership Models
Continuous Improvement Skill Sets
Cost Reduction Initiatives
Cost Savings Reporting Procedure
Data Mining
Establishing A Strategic Focus With The ABC Analysis
Modern Methods Of Analysing The Spend

Day 2 - Cost Reduction Opportunities
User Group Brainstorming Sessions
Developing Company Purchase Price Index And Comparing To External Indexes
Understanding Of Supply Marketplace And How Suppliers Price
Benchmarking
Process Mapping To Eliminate Low Value Activities
Developing Purchasing Material/Services Strategic Plans
Resisting Price Increases
You Will Never Be Better Than Your Suppliers
Supplier Performance Measurement
Cost Saving Methods

Day 3 - Methods of Price Evaluation
Price Justification
Model For Selecting Analysis Methods
Methods Of Price Analysis
Competition
Historical Prices
How Much Profit Is Fair
Methods Of Cost Analysis
Breaking Down The Elements Of Cost
Developing 'Should Cost' Successful Negotiations
Our Responsibilities As Agents
Negotiation Skill Sets
Steps In Negotiation Preparation

Day 4 - Methods Of Persuasion
What Does Win/Win Really Mean?
Determining The Issues
Defining Issues For Specific Contract Provisions
Payment Terms
Progress Payments
Warranties
Spare Parts
Rating & Valuing Issues
Standards Of Ethics In Purchasing And Contracting Conduct

Day 5 - Strengths and Weaknesses
Evaluating Your Position
Know Your BATNA
Analysing The Other Side
Negotiation Objectives Diagram
Negotiations Planning Forms
Prepare The Negotiation Team
Tips For The Actual Negotiation
Participants will negotiate model cases and discuss the results to provide an opportunity for hands on experience.

Updated on 05 August, 2024

About London Training For Excellence

Empowering Professionals for Over a Decade

London Training for Excellence is a leading provider of professional development programmes, established in 2013. For over eleven years, we have been committed to equipping individuals and organisations with the skills and knowledge they need to excel in today's ever-evolving business landscape.

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We understand that busy professionals require flexible learning options. We offer a variety of delivery methods to suit your needs, including:

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