The Effective Buyer- Effective Purchasing, Supplier Selection & Contract Preparation

202416sepAll Day20The Effective Buyer- Effective Purchasing, Supplier Selection & Contract Preparation

Course Details


• 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


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

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

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

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

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

Who Should Attend ?

Contracts, Procurement, Purchasing, and Project personnel
New Buyers or those appointed to the role in the past two or three years
Managers responsible for buying departments who wish to understand the roles and activities of their team
Staff responsible for Supply Chain Performance
Engineering, Operational, Quality, and Maintenance personnel
And all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts, and services or anyone who wants to improve supplier performance


September 16, 2024 - September 20, 2024 (All Day)(GMT+03:00)


Paris - France

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Health Guidelines for this Event

Masks Required
Physical Distance Maintained
Event Area Sanitized
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