Advanced Purchasing Skills

Who Should Attend

·     Identify and prioritize saving opportunities to get the biggest cost reduction as possible
·     Tackle the different levers in order set priorities strategically
·     Learn practical and tried-and-tested negotiation techniques that align your company’s interests with those of your customers
·     Gain practical insight into opportunity analysis in light of understanding the customers’ needs and their priorities
·     Follow a step-by-step guide outlining the issues, perceived constraints, related repercussions along with proposed solutions

Analytical approaches to purchasing
·     Opportunity Analysis – a tool for identifying and ranking opportunities based on return, effort and probability of success
·     Price history vs. market or formula
·     Cost Models, price forecasting and margins
·     Contract Model – legal & mathematical
·     Price versus total cost
Strategy development
·     Spend classification and Risk Management
·     Spend Classification: Strategic, Critical, Tail spend
·     Risk management
o   Internal vs External Sourcing
o   Hedging
o   Global vs Regional
o   Contract vs Spot
o   Supplier viability & natural disasters
o   Strategy alignment via supply/sales agreements
Strategic sourcing and improving supplier cooperation
·     Strategic Sourcing to insure the lowest cost.
·     Improving supplier cooperation
·     Alignment with strategy
·     Tracking to plan Purchasing procedures
·     RFQ (Request for Quote) process
·     Supplier development = competition; Supplier Score Cards with weighting that reflects impact on cost
·     Quarterly supplier meetings – to provide feedback
·     Negotiation
Evaluation – Performance metrics
·     PPV – tracking to budget – short term performance
·     YoY price inflation / deflation vs. index – longer term performance
·     Price – volume – mix analysis
·     Individual metrics aligned

Buyers, senior buyers, purchasing supervisors, purchasing managers and all other personnel who need to understand the purchasing function.

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Enrolled: 0 students
Duration: 5 Days
Level: All Level

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