
Overview
Strategic Procurement Strategies with Competency in Negotiation
In order to improve company profitability and ability to drive up market share, the demand for an effective and efficient procurement management is a pre requisite. Key competencies in area of cost control, applying strategic strategy to manage supplies and the negotiation of the most advantageous benefits to the company is extremely important.
This program promotes the key competencies in strategic procurement strategies, the technique of managing cost saving activities and handling effective negotiation in order for managing an efficient and effective procurement system in the company.
Learning Outcomes
By the end of this course, participants should be able to:
- UNDERSTAND the strategic sourcing role of procurement in business operations
- IDENTIFY the most effective strategies for procurement and inventory.
- DEVELOP supply management action plans.
- CARRY OUT risk assessment to ensure supply chains are not disrupted.
- MANAGE the contract management system to ensure effective management.
Who Must Attend
This training program is highly recommended for employees involve in the managing of the supply chain function in the company, for example, personnel from procurement, warehouse, logistics and planning department and finance.
Course Details
Module 1 – The Role of Procurement & Purchasing
- Definition of Purchasing versus Procurement
- Role of Purchasing versus Procurement
- Job Function of Purchasing and Procurement
- Cycle of Procurement
- Key Fundamental to Effective and Efficient Procurement
Module 2 – Strategic and Tactical Objective and Goal of Procurement
- Definition of Strategic and Tactical
- The Ps , Qs and Rs of Procurement
- Key Objectives of Procurement and Purchasing
Module 2 – Strategic and Tactical Objective and Goal of Procurement
- Strategic Role in Procurement
- Tactical Role in Procurement
- Strategic Sourcing Strategy and the different level of sourcing
- Competitiveness Model for strategic procurement system
- Value Chain creation in procurement
- Supplier Quality Management
- Supplier Relationship Management
- Supplier Performance Management
- Supplier Management Process Cycle
- Cause and Effect Technique (5 Why and 1 How) for problem evaluation
- Strategic Cost Evaluation with Should Costing
- Strategic Cost Analysis for best pricing
- Price Analysis versus Cost Analysis
- Supplier Segmentation Management
- Breakout room discussion
Module 3 – Cost Reduction and Cost Avoidance
- Cost Reduction versus Cost Avoidance
- Area of Cost Reduction and Cost Avoidance
- Key Factors to consider in Cost Reduction
- Opportunity cost in cost reduction activities
- ERRANT cost reduction and avoidance strategy
- Break out room discussion
Module 4 – Managing Smart Negotiation
- Integrative Negotiation
- Distributive Negotiation
- Contract Negotiation
- Stages of Negotiation
- SWOT analysis
- Competitiveness model
- Deciding red lines in negotiation
- Knowing your opponent traits
- The Soft Negotiator
- The Principled Negotiator
- The Hard Negotiator
- Traits of a good negotiator
- Bad Negotiator habits
- Mistakes made in Negotiation
- Body language in negotiation
- Clear planning of objectives and goals
- Understand when to walk away
- Managing Reject and counter offer
- Dealing with difficult negotiators
- WATNA strategies
- BATNA strategies
- Break out room discussion and role ply
Module 5 – Preventing Procurement disruption - Third Party Risk Management
- Definition of 3rd party risk management
- Cycle of 3rd party risk management
- Securing supplies with 10 C selection and evaluation
- Conducting audit and key areas of audits
- Suppliers managing strategies
Module 6 - Strategic and Operational Risk Management in Procurement Management
Definition of Strategic and Operational Risk Management
- Strategic Risk Assessment
- Operational Risk Management
- Conducting Competitiveness Analysis
- Fraud Management
- Preemptive technique to avoid disruption
- Case study – Where are your company operation in term of ensuring undisrupted supplies of inventory?
- Post test x 20 questions
Methodology
This training will involve the following:
- Power point presentations.
- Case studies & Brain storming session.
- Q&A sessions.
- Facilitating by trainer to enhance understanding of subject matter.
Course Leader
Steven Yeo
Certified HRDF Trainer (TTT certificate number 4669)
Certified Professional Trainer and Facilitator (University Malaya, Malaysia)
MBA in Supply Chain Management (USA)
Steven Yeo is a certified HRDF trainer who specializes Procurement, Warehousing, Logistics and Supply Chain and Operational issues.
Yeo comes with a solid 32 years of corporate working experience in the area of supply chain management. His last tenure before retiring from full time employment was as Company Director cum Supply Chain Manager for a mega French-based company in Melaka.
He started his career as a Storekeeper in a chemical plant and through the years of striving for the best, he worked his way up the ladder to become the Plant Manager before joining another Multinational company in procurement and supply chain management.
Among his tremendous achievement was his success in spearheading a cost reduction exercise and managed to achieve a saving of more than RM6.5 million in three years. He has increased the productivity in the company through intrinsic and extrinsic action plans. He is also instrumental in promoting supply chain management concept to his staff and colleagues in his last company whom he served for 10 years before retiring.
Yeo is passionate about training and coaching others. He loves people, he loves to share. Throughout his career, he has been sharing his skills and knowledge with an open heart. After his retirement from the corporate world, he dedicated his time to conduct more trainings and consultancy.
He has conducted in numerous companies in Malaysia since 2008 in the area of warehousing, purchasing, logistics, supply chain, risk management, `incoterm, and international payment system.
Here are some of the companies whom he has conducted trainings.
Sepang Aircraft Engineering Sdn Berhad |
My Medic Innovation |
Accenture Malaysia |
Q Value Add Penang |
Inari Amerton |
World Kitchen Sdn Berhad |
Food Excellence Sdn Berhad |
Nanmu Yarn |
With Yeo’s vast experience in the industry, he brings his experiences to the training room and share all the failures and successes in the Supply Chain field. Many of his participants have raving feedback and commendation for his ability in delivering real-life knowledge, skills and sharing of his life experiences helping them save a lot of times and mistakes along the way.
For training and advisory services, feel free to contact us at info@itrainingexpert.com or call us at +603 8082 3707 | +603 8074 9056 | +6012 6869 628 | +6018 2175 123
Testimonies
Some of the comment from the participants from Accenture Consulting above…..”Practical, must attend, fun and recommended, eye opener, proven and solid, practical, energetic delivery, good and practical and guaranteed to make you learn”
Investment
Normal Fee |
Sign up 1 pax |
Pay before course starts |
MYR 2,990.00 |
USD 890.00 |
Early Bird |
Sign up 1 pax |
Pay 14 day(s) before course starts |
MYR 2,590.00 |
USD 760.00 |
Group Fee |
Sign up 3 pax or more |
Pay 14 day(s) before course starts |
MYR 2,490.00 |
USD 730.00 |
Upon successful completion of this program, you will receive Certificate of Achievement.
Payment mode:
1. Online Payment by Credit card: You can opt to register and pay online with our latest payment integration system through
our website.
2. Bank Transfer- You can also opt to use GIRO or telegraphic transfer of payment via international banks.
3. HRD Corp Claimable Courses Skim Bantuan Latihan Khas - Applicable to Malaysian Employer Only