This Training program covers the skills required to lead procurement and inventory teams to a world-class performance by running organizations leaner, effectively, and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. It focuses on the ‘gaps’ in performance to be filled in order to provide the continuous improvements needed to meet strategic objectives.
Procurement and Inventory are two of the least understood areas of business in many organisations but are essential for good business results. Adopting sound procurement and inventory management principles will lead to a better return on investment, improved quality, lower costs, and reduced working capital. In an environment characterized by many unknowns, procurement professionals must assist general management by providing purchasing expertise for strategic decisions as it plays an important role in the profitability and success of the business. Purchasing is a very crucial operative in supply chain management.
Purchasing can assist in calculating the probable impact of outside factors on supply, quality, and price. Secondly, effective managers are consensus builders. Consensus is built with artful negotiation. It is not a game of compensating some “wins” with some “losses”. It is also a key process that determines a healthy cash flow within organizations. The ultimate result is the winning of the organization by creating a collaborative relationship. This program offers various methods and techniques to achieve savings through the principles of purchasing, sourcing, and evaluation of vendors, quality control, and cost negotiation, and understanding the impact of Inventories on purchasing decisions.