Procurement & Inventory Management SMF Centre for Corporate Learning
Price: SGD 556

    Course details

    PROGRAMME OUTLINE

    Definition of Procurement

    • Roles and responsibilities of procurement
    • Operational strategies
    • Financial strategies
    • Marketing strategies
    • The 5 ‘Rights’ of procurement

    2. Procurement Profitability And Added Value

    • The evolution of procurement
    • Procurement and the change
    • Buyer’s and seller’s strengths matrix

    3. Negotiation In Procurement

    • What to negotiate?
    • Negotiation techniques
    • Negotiation guides to preparation
    • The 6 basic steps in negotiation
    • The 3 categories in negotiation
    • Summary of bargaining stages
    • 7 Critical mistakes in negotiation
    • General rules in negotiation

    4. Cost Reduction Techniques

    • Purchasers’ cost reduction responsibilities
    • Changing the roles of procurement and its perception
    • Cost reduction process
    • ABC cost reduction analysis
    • Direct materials cost reduction
    • Indirect Materials Cost Reduction (MRO items)
    • Suppliers cost reduction responsibilities
    • Developing procurement personals’ KPI/KRA

    PROGRAMME OBJECTIVES

    At the end of the 2-day programme, participants will be able to:

    1. Understand the operational, financial and marketing strategies of procurement;
    2. Obtain up-to-date negotiation techniques and effective guides in preparing a negotiation;
    3. Master the cost reduction process and techniques in procurement;
    4. Develop competency and commitment in cost reduction responsibilities;
    5. Understand the benefits of benchmarking application in procurement management;
    6. Master the five crucial stages of benchmarking implementation process; and
    7. Improve the procurement functions and contribute to organisation’s efficiency, productivity and profitability.
    Updated on 08 November, 2015

    About SMF Centre for Corporate Learning

    The Singapore Manufacturing Federation (SMF), formerly known as the Singapore Manufacturers' Association, was first established in 1932. Its main aim is to champion the Singapore manufacturing sector. With a membership of over 2,800 corporate members ranging from MNCs to SMEs, SMa carries out a myriad of activities to enhance the competitive edge of our members.

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