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Best Practices in Procurement & Purchasing
Quantifying Procurement Impact and Translate Savings into Tangible Business Outcomes
Level of course:
Beginner
Delivery:
In-Person Learning
Duration:
/ 2 days
Upcoming Course Schedule:
For In-House Training Only
Course Overview
Are you a procurement professional ready to transform your role? Move beyond basic cost-saving tactics and become a strategic partner driving value creation for your business?
This short, impactful course equips you with a structured framework for conducting procurement exercises, focusing on key factors for capturing value from your purchases. Learn to quantify the impact of your decisions, build strong supplier relationships, and position procurement as a critical function contributing to your company's success.
Who is this course for?
Newly appointed supervisors and managers as well as senior buyers with less than 3 years of procurement experience.
Key Takeaways
Course Pre-requisites :
None
Topics
Here's what you get to
learn in this course
Topic 1
We will start of walking thru a simple framework with a set of supporting questions / rules that will enable us to go through simple to complex sourcing exercises
Topic 2
Many models and comparisons exist and we will be looking at some of them. There is not right or wrong model but we will try to match which one(s) is best at a given scenario and also more important how do we tie it into stakeholder management and presenting to them.
Topic 3
One of the key things a procurement person or buyer need to be able to do is to present savings in the language of customer. Creating the saving is one thing, but being able to display is a different one. We will review various options of presenting costs savings as well as how and when to communicate during the 6 Sourcing Steps.
Topic 4
Moving from costs to value will take time within each organisation. Total Cost of Ownership is the term that most companies and corporations refer too, but what we will discuss is Total Value of Ownership concept and what to consider in-terms of tangible and intangible benefits surfacing from procurement.
Topic 1
Internal stakeholder management during a procurement exercise is of outmost importance to uncover the real need as well as ensuring that the deal can be struck and signed. This part of the course will focus on the interaction with internal stakeholders using some of the tools given above as well as ensure how to gain buy-in from key stakeholders.
Topic 2
We will review basis the strategic importance of the category and the macro-economic factors at which relationship distance a supplier should be e.g. arms-length versus strategic partner..
Topic 3
Negotiation is in itself a skill. We will in the course focus on key characteristics during a face-to-face negotiation but also work on how to ensure proper wording is done for email exchanges during negotiations to capture most value from non-physical negotiations.
Topic 3
A key take-away from the training is a small toolbox, which can be used to execute procurement exercises. It will cover all of the items we will run thru during the course as well as enable you to personalize it to you, your job and your company in your working environment.
Instructor
Know your course instructor
Michael Nielsen
An experienced manager having lived in various Asian countries including India, China and Singapore. He has worked with multiple Fortune 100 companies as well as set up his own companies in Hong Kong, Denmark and Singapore.With an Executive MBA from INSEAD as well as one from Tsinghua University which both have given him a strong theoretical toolbox in regard to finance and strategy. Michael completed his undergraduate degree in International Business at Copenhagen Business School in Denmark
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Fundings & Subsidy
* Participant need to meet the attendance and assessment requirements to be eligible for the funding.
| For Singapore Citizens & PR (below 40yrs old) |
For Singapore Citizens (40yrs old and above) |
|
|---|---|---|
| Course Fees | ||
| Funding Support | ||
| Total Fee payable |
Assessments
As part of the requirement for SkillsFuture Singapore, there will be an assessment conducted at the end of the course.
Participants are required to attain a minimum of 75% attendance and pass the assessment to receive a digital Certificate of Completion issued by Impress Training along with a WSQ Statement of Attainment.
SkillsFuture Credit
Eligible Singapore Citizens may use their SkillsFuture Credit balance to offset respective course fees. This is only applicable to Self-sponsored Individuals.
The Course is very useful. Trainer was engaging and I learned a lot.
Lee Ser Hiang
Senior Manager, CPF Board
The course was very interesting and Trainer was engaging and helpful.
Cheryl Foo
Manager, Supreme Court
Very engaging Trainer and knowledgeable in this field, Training was well-structured and many useful tips shared.
Abigail Lee
Marketing Executive, ST Telemedia Global Data Centres Pte Ltd
Well designed course and had great takeaways and backed by research.
Nigel Goh
Manager, Sembcorp Industries
Mind-blowing professional training course that helped my team with techniques to structure/plan a good presentations before diving into it.
Valerie Lee
Head, Corporate Development, Sembcorp Industries Ltd
I never knew PowerPoint has so much to offer. Thank you for alerting me to its possibilities.
Seah Boon Kiat
Deputy Manager, Temasek Polytechnic
Amazing instructor that never fails to wow and amuse me with his powerpoint creations. I enjoyed the course a lot. Keep it up!
Miko Chong
Product Innovator, NCS Pte Ltd
One of the most useful courses I've attended. Many hands-on practices. Great!
Samantha Wu
Manager, Civil Aviation Authority of Singapore
Great content delivered with great energy. Lots of learnings and insights.
Rakesh Patni
Research Director, IDC Asia Pacific
This course is a MUST for any professionals who does presentations, whatever the frequency maybe. Overall lots of knowledge gained & this would be very relevant and beneficial to my career.
Rubegan Soundarajan
Plant Manager, ST Engineering Innosparks Pte Ltd
The Trainer has done an impressive job in delivery a concept and impactful course on producing and presenting business presentations. He is entertaining and delivered the course very effectively.
Roderick Leong
Manager, Nxera SG Pte Ltd
Interesting Course - Animation are more effective than we thought. Passionate Trainer!
Ong Lay Khoon
Vice President, Sembcorp Energy Markets Pte Ltd
The course is amazing. Trainer is great, has lots of knowledge and very engaging.
Alberto Resco Perez
Senior Director, Software Engineering, Singtel
Trainer is very engaging and approachable, along with excellent delivery of course content.
Cedric Ang
Associates - Investments, Fraser Hospitality
Every Minute well-spent! On a more important note, definitely seeing myself applying the learning into my daily work.
Megan Niu
Lead, Sembcorp Industries Ltd
Fun learning session, a lot of insights sharing during the training.
Song Peilin
Senior Finance Manager, Mapletree Investments
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