Contracts are essentially the heartbeat of the procurement function and getting this wrong has the power to make or break profit margins. This runs hand in hand with the challenge of reducing lead times, improving quality and optimising the Total Cost of Ownership of purchases. Critical to this effort is the creation and maintenance of appropriate collaborative relationships with suppliers and service providers.
There has been a steady increase in the focus on strategic procurement functions across various, if not all, industries. Procurement departments within companies have garnered themselves pivotal roles in determining the success of global firms in ways that old-fashioned purchasing managers would never have thought to be possible. The highly complex global environment, limited supplies of critical commodities and the ongoing impact of economic ‘headwinds’ have focused senior management attention towards the challenges of buying the goods and services their organisation needs to satisfy customers and stakeholders.
The complex and changing environment means all organisations need to become accomplished in the activities involved in buying needed goods and services, both finding then and putting in place the necessary contractual arrangements to obtain them. In particular, the latter processes include- the drafting, managing, negotiating and finalising of procurement contracts.
- Exploring new and leading edge procurement strategies
- Identifying key areas of contract management excellence
- Detecting and eliminating sources of contract value leakage
- Effectively reducing the Total Cost of Ownership of the supplies and services purchased
- Implementing leading edge Supplier Relationship Management (SRM) approaches
- Applying innovative, effective and integrated negotiation approaches
- Elevating cross functional collaboration by procurement and contracting functions
- Establishing an understanding of the importance of a WIN/WIN approach
- Gaining insight into the best approaches to Contract Governance
- Leveraging relationships with partners to deliver outstanding results
Who should attend?
VPs, GMs, Directors, Heads and Managers of:
- Procurement / Purchasing
- Supply Chain Management
- Materials Management
- Vendor Relations
- Business Process Management
- Corporate Planning and Strategy
- Quality and Performance Management
- Corporate Affairs
- Stores and Inventory Control