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Principles of Purchasing Management

Overview of purchasing management and its role in the supply chain.

Understanding procurement processes and their importance to business.

Developing a purchasing strategy aligned with organizational goals.

Analyzing purchasing trends and market conditions to forecast needs.

Identifying Cost-Saving Opportunities

Analyzing purchase data to identify inefficiencies and areas for savings.

Implementing competitive bidding and tendering processes.

Consolidating purchases to leverage volume discounts.

Exploring alternative sourcing options (local vs international suppliers).

Negotiation Skills for Cost Savings

Key negotiation techniques for achieving cost reductions.

Building strong supplier relationships to secure better deals.

Negotiating favorable payment terms and delivery schedules.

Overcoming common challenges in procurement negotiations.

Supplier Selection and Relationship Management

Criteria for selecting suppliers based on cost, quality, and reliability.

Conducting supplier performance evaluations and audits.

Developing long-term supplier partnerships to enhance cost savings.

Managing supplier risks and maintaining consistent quality.

Technology and Data Analytics in Purchasing

Using e-procurement tools and software to automate purchasing processes.

Leveraging data analytics for cost tracking and decision-making.

Integrating procurement data with enterprise resource planning (ERP) systems.

Implementing digital solutions for supplier collaboration and communication.

Effective Inventory Management for Cost Control

Techniques for optimizing inventory levels and reducing holding costs.

Understanding demand forecasting and its impact on purchasing decisions.

Managing stock outs and excess inventory to avoid unnecessary costs.

Implementing Just-In-Time (JIT) and Lean principles in inventory management.

Certificate

Upon full attendance of this training course, participants will receive an accredited certificate issued by Al Manhal Institute, which is licensed by the Abu Dhabi Center for Technical and Vocational Education and Training. This certificate is regionally recognized, providing holders with a competitive advantage both within their organizations and when seeking new career opportunities.

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Purchasing Management & Cost Saving Techniques

Goals

Contents

Principles of Purchasing Management

Identifying Cost-Saving Opportunities

Negotiation Skills for Cost Savings

Supplier Selection and Relationship Management

Technology and Data Analytics in Purchasing

Effective Inventory Management for Cost Control

Certificate

Certificate

Extra Options

Principles of Purchasing Management

Identifying Cost-Saving Opportunities

Negotiation Skills for Cost Savings

Supplier Selection and Relationship Management

Technology and Data Analytics in Purchasing

Effective Inventory Management for Cost Control