course | Procurement Skills: Strategies to Reduce Vendor Prices
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PSCO-650 | Procurement Skills: Strategies to Reduce Vendor Prices
Course Sector : Procurement & Supply Chain Operations
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 5 Days | 2025-06-16 | 2025-06-20 | Barcelona | $4,950 | Book now |
| 5 Days | 2025-08-18 | 2025-08-22 | Dubai | $4,250 | Book now |
| 5 Days | 2025-11-09 | 2025-11-13 | Riyadh | $4,250 | Book now |
| 5 Days | 2025-12-01 | 2025-12-05 | Online | $2,150 | Book now |
Course Introduction
This intensive training course is aimed at improving the skills of the Procurement Professional and Buyers in organizations. The training course examines the strategic importance of procurement within departments by using concepts and ideas in order to maximize the procurement department’s effectiveness and thereby reducing costs throughout the supply chain. It is therefore imperative for Procurement to constantly deliver value to the organisation by delivering products and services that contributes to the well-being of the organisation. This is an important training course for Purchasing professionals who will return to their organisation with actual realistic plans on how to make considerable cost savings.
Course objective
- Develop critical supply strategies
- Apply the concepts of activity-based costing
- Understand the Supply Marketplace and how Suppliers Price
- Develop skills required for effective supplier relationships
- Practise successful negotiations and apply negotiation techniques
Course Outline | Day 01
Continuous Improvement in Cost and Productivity
- How do other functions view purchasing
- A Purchasing Savings Model
- Total Cost of Ownership Models
- Cost Reduction Initiatives
- Establishing a Strategic Focus with Pareto Analysis on Cost
- Modern Methods of Analyzing the Spend
Course Outline | Day 02
Defining Cost Reduction Opportunities
- Developing Company Purchase Price Index and Comparing to External Indexes
- Understanding of Supply Marketplace and how Suppliers Price
- Benchmarking best practices in Cost Reduction
- Resisting Price Increases
- Supplier Performance Measurement
- Cost Saving Methods
Course Outline | Day 03
Methods of Price Evaluation
- Price Justification
- Methods of Price Analysis
- The Competition that leads to price reduction and evaluation
- Methods of Cost Analysis
- Breaking down the Elements of Cost
- Developing "Should Cost"
Course Outline | Day 04
SUCCESSFUL NEGOTIATION and TECHNIQUES
- Negotiation Skill Sets
- Steps in Negotiation Preparation
- Methods of Persuasion
- What Does Win/Win Really Mean?
- Determining the Issues
- Rating & Valuing Issues
- Avoiding Confrontational Negotiating
- Developing Active Listening Skills
- Negotiating with an Angry Person
- Power Closes that are used on the Buyer
- Understanding the other Negotiator’s Power
- Negotiation Tactics and Countermeasures
Course Outline | Day 05
Determining Strengths and Weaknesses
- Know Your Better Alternatives to Negotiated Agreements (BATNA)
- Analyzing The Other Side
- Negotiation Objectives Diagram
- Prepare the Negotiation Team
- Tips for the Actual Negotiation
- Participants will negotiate model cases & discuss the results to provide an opportunity for hands on experience
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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