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A highly interactive training course on

Purchasing Techniques, Negotiating & Cost Reduction

Putting the Best Foot Forward to Achieve Best Cost Optimization Through Negotiation
Purchasing Techniques, Negotiating & Cost Reduction
5
Days

Course Schedules

 London
 05-09 Feb 2024
 $5,950
 Dubai
 24-28 Jun 2024
 $5,950
 Dubai
 21-25 Oct 2024
 $5,950

Training course overview

Purchasing is a critical business process that enables an organisation to secure a wide range of resources efficiently and effectively. This Coventry Academy training course introduces techniques that enable delegates to return to their organisations and make immediate cost savings across the business. This is a fast paced training course that introduces different ways of relating to suppliers and customers to establish relationships so that there is a commitment based on mutually-agreed objectives to strive for world-class capability and competitiveness. This Coventry Academy training course discusses the principles of negotiation with techniques to highlight advantages and disadvantages of effective negotiation. Delegates will be able to return to their organisations and implement the techniques in order to make significant cost savings in their area of the organisation.

What are the goals?

By attending this Coventry Academy training course you should achieve these goals:

  • How to Understand the Process of Purchasing in Their Business
  • How to Improve Negotiation Skills for a Win-Win Outcome
  • Understand the Errors in Negotiating
  • How to Improve Relationships with Customers and Suppliers
  • How to Rate the Efficiency of Suppliers
  • Understand the Implications of Cost Control
  • Know How to Make Significant Cost Savings in Their Organisations

Who is this training course for?

This Coventry Academy training course is suitable for middle managers who work in purchasing and operational areas in the organisation, as well as consultants and professionals who operate alongside of them. For example:

  • Operational Managers
  • Financial Managers
  • Buyers
  • Managers in the Organisation Who Would Benefit From Understanding the Principles of Purchasing

Course Outline

Day One: Continuous Improvement in Cost and Productivity
  • How do other functions view purchasing
  • A Purchasing Savings Model
  • Total Cost of Ownership Models
  • Cost Reduction Initiatives
  • Establishing a Strategic Focus with Pareto Analysis on Cost
  • Modern Methods of Analyzing the Spend
Day Two: Defining Cost Reduction Opportunities
  • Developing Company Purchase Price Index and Comparing to External Indexes
  • Understanding of Supply Marketplace and how Suppliers Price
  • Benchmarking best practices in Cost Reduction
  • Resisting Price Increases
  • Supplier Performance Measurement
  • Cost Saving Methods
Day Three: Methods of Price Evaluation
  • Price Justification
  • Methods of Price Analysis
  • The Competition that leads to price reduction and evaluation
  • Methods of Cost Analysis
  • Breaking down the Elements of Cost
  • Developing "Should Cost"
Day Four: Successful Negotiations
  • Negotiation Skill Sets
  • Steps in Negotiation Preparation
  • Methods of Persuasion
  • What Does Win/Win Really Mean?
  • Determining the Issues
  • Rating & Valuing Issues
Day Five: Determining Strengths and Weaknesses
  • Know Your  Better Alternatives to Negotiated Agreements (BATNA)
  • Analyzing The Other Side
  • Negotiation Objectives Diagram
  • Prepare the Negotiation Team
  • Tips for the Actual Negotiation
  • Participants will negotiate model cases & discuss the results to provide an opportunity for hands on experience 

The certificate

  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Coventry Academy
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