The Successful Buyer

By attending this bespoke,  Successful Buyer training course, participants will develop a thorough understanding of the need to initiate processes, systems and best practice procedures to make sure that effective purchasing does not only concentrate on cost reductions; rather it focuses on supplier collaboration and the absolute requirement to enter into a contract that is deemed innovative, sustainable and will deliver efficiencies and cost saving initiatives throughout the life cycle of the contract.

 

Course Objectives of The Successful Buyer

• Achieve Operational Efficiency in Purchasing

• Select and Managing Suppliers

• Develop a Balanced Performance Measurement Framework that is value driven

• Evaluate Suppliers - developing key measures for a total cost and value approach

• Understand the Stages of Effective Contract and Supplier Management

Day 1
The Procurement Process and the Financial Impact on its Outcomes

• The Importance of Effective Purchasing

• Understanding the Procurement Strategy

• The Five Steps of the Procurement Process

• Implementing Strategies for Cost-effective Purchasing and Procurement

• Strategic Cost Management as opposed to Ad-hoc Cost Reduction

• Measuring the Impact of Cost Management initiatives on Profitability

Day 2
The Critical Elements of the Statement of Work, Scope and Specifications

• Capturing the Real Requirement of the End Users

• What a Good Specification for goods and services looks like?

• Defining Needs and Wants - Essential vs. ‘nice to have’

• Who Needs to Develop and Contribute to the Specification?

• Important Questions to ask When Developing a Specification

• Understand the Total Cost of Ownership in Relationship to the Actual Requirements

Day 3
Supplier Selection and Developing Robust Criteria for Supplier Evaluation

• Creating a Supplier Development Plan

• Developing the Criteria for Pre-Qualification

• Selecting Suppliers - A Balanced Judgment

• Using Carter’s 10 C’s as a Tool for Selection

• Price and Long Term Cost Considerations

• Analyzing Cost vs. Value

Day 4
Developing the Relevant Tender Process and Awarding the Contract to the Most Suitable Supplier

• Determining the Key Principles Underpinning all Tendering and Procurement

• The Competitive Bidding Process

• Understanding the Full Tender Process from Notice to Award

• Evidencing Capability, Reliability and Quality

• Qualitative and Quantitative Assessment, Review and Continual Improvement

• Negotiating the Deal

Day 5
Fundamentals of Contract Management

• The Importance of Contract Management

• Principles and Concepts around Contract Management

• The Contract Management Process

• Contractual Risk - How it is created?

• Critical Success Factors for Effective Contract Delivery

• Managing Contract Performance