Master Class in Procurement Management

Introduction to Procurement & Purchasing

• Procurement vs. purchasing
• Procurement organizations, roles and responsibilities
• Key responsibilities of a buyer
• Procurement trends and future outlook
  
  

Procurement Strategies & Processes

• Strategic sourcing
• Procurement planning and budgeting
• Procurement classification based on profit impact and supply risk
• Procurement life cycle
  
  

Supplier Management

• Supplier selection criteria
• Supplier evaluation and performance measurement
• Supplier relationship management (SRM)
• Risk assessment in supplier selection
• Supplier contract management
  
  

Negotiation Skills for Buyers

• Key negotiation techniques
• Managing supplier negotiations
• Contract negotiation strategies
• Conflict resolution in procurement
  
  

Cost Management & Procurement Efficiency

• Cost reduction strategies
• Total Cost of Ownership (TCO)
• Value analysis and cost-benefit analysis
• Inventory management and cost optimization
  
  

Types of Agreements

• Agreement classification based on risk
• Agreement classification based on other criteria
• Key terms in an international contract
  
  

Compliance, Ethics & Sustainability in Procurement

• Ethical considerations in procurement
• Compliance with procurement policies and regulations
• Sustainable procurement practices
• Corporate social responsibility (CSR) in procurement

Technology & Digital Procurement

• E-procurement systems
• Role of AI and automation in procurement
• Data analytics in purchasing procurement decisions
• Procurement software and ERP integration

• Case studies & group discussions
• Quizzes
• Assignments
• Final project