Procurement is an organizational function that covers a multitude of business functions. This includes specification development, value analysis, supplier market research, negotiation, buying activities, contract administration and inventory management. This course will provide a holistic approach to managing your supply chain and drive strategic value to impact both bottom-line costs and top-line revenues.
Member Price: $1,395.00
May 14-15, 2024
- Category Management & Sourcing: Introduction and expectations for the program; review the role of category management and the sourcing process.
- Business Requirements: Addressing business requirements, distinguishing needs versus wants, instructional video on needs versus wants, and an activity around priorities.
- Price & Cost Development and Roles: Understanding when focus on Price is appropriate and focus on Cost is worth the effort; identifying the stage of Price & Cost and your role activity.
- Supplier Segmentation & Analysis: Determining the type of supply relationship you are in with your supplier, and the appropriate approach and behaviors given each type activity.
- Supplier Engagement Strategies: Taking supplier segmentation and adding how they view you as a customer to arrive at the best engagement strategy for the situation as an activity.
- Supply Market Analysis: Practicing techniques for analyzing the market dynamics, (SWOT, Porter’s Five Forces), from basics to projecting trends activity.
- Financial Analysis: Analyzing supplier financial statements, performing ratio analysis and gaining insights for use in risk management and negotiation prep activity.
- Negotiation Introduction: Understanding the seven steps to negotiation, and the impact that natural negotiation styles have on the approach and outcomes, with styles activity.
- Conditioning, Influencing, Planning: Identifying conditioning messages received and how to influence others with conditioning. Using planning templates to improve negotiation organization and results.
- Negotiation Styles: Identifying your natural negotiation style, how to leverage it, how to shift it and practicing style management in a 1:1 negotiation activity.
- TCO: Identifying the useful components of total cost for the category you manage, how to gauge total fixed, variable and semi-variable costs activity.
- Stakeholder Management: Identifying, engaging and managing stakeholders, mapping their profiles, creating an engagement plan activity and video on information control.
- SRM: Reviewing SRM cycle to management and optimize supplier performance over the contract lifecycle.
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Who Should Attend:
This supply management training is ideal for fundamental & proficient level professionals involved in the end-to-end aspects of procurement. You will discover tools to gain insight across the entire supply chain that will enable strategic value to your company, your stakeholders and your suppliers.
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.