Course Description

In today's highly competitive market, organizations need to achieve substantial improvements in their purchasing operations to stay ahead. Effective Purchasing & Contract Negotiation Strategies focuses on equipping professionals with the critical skills and knowledge required to become leaders in negotiating and securing cost-effective contracts. This course covers the strategies, techniques, and processes necessary for reducing costs through improved purchasing and negotiation practices. By focusing on both strategic procurement and the negotiation of contracts, participants will gain hands-on experience in achieving cost reduction and enhancing supplier relationships.

Course Goal

To enhance the participants' knowledge, skills, and abilities in negotiating purchasing contracts and applying effective strategies to reduce procurement costs, enabling their organizations to secure value-driven contracts.

Course Objectives

By the end of this course, participant will be able to:

• Understand the importance of performing purchasing gap analysis and how it influences contract negotiations.
• Grasp the concept of Total Cost of Ownership (TCO) and its application in negotiations.
• Use methods of price and cost analysis to evaluate supplier offers.
• Develop “should cost” models to guide negotiations.
• Identify cost reduction opportunities within the purchasing process.
• Apply various contract negotiation approaches to secure favorable terms.
• Understand the tendering process and apply best practices in supplier qualification and selection.
• Master negotiation tactics and strategies for achieving win-win outcomes.
• Analyze strengths and weaknesses in negotiation positions and improve negotiation preparedness.

Who Can Benefit

• Procurement and technical staff involved in specifying and procuring services and supplies.
• Contracts, Purchasing, and Procurement Personnel.
• Engineering, Operational, Project, and Maintenance Personnel.
• Anyone involved in negotiating and managing contracts.