Buying Success: The Procurement Role in Long Term Profitability

by

Creating a strong procurement process is a key driver of improved profitability, and accountant’s play a key role in this. This course will help you to develop a good procurement process, strengthen supplier relationships, enhance your negotiation skills, and boost profitability.

£100 +VAT

4 CPD hours

120 days’ access

Use ACPD101 for 10% off any purchase.

Buying Success: The Procurement Role in Long Term Profitability

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

Buying Success: The Procurement Role in Long Term Profitability

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Ensure that your procurement processes maximise your long-term profitability
  • Understand the procurement process and your role within it
  • Build and maintain strong supplier relationships
  • Ensure you have the correct documents for each stage of the procurement process
  • Master the skills for successful negotiations and understand why this is a crucial process
  • Understand the role of power and some of the key issues that can arise during the negotiation process

About the course

Establishing a strong procurement process can improve profitability as well as improving relationships with suppliers and clients. As an accountant you play a crucial role in this process.

In this course, you will find out what makes a good procurement process. It will help you establish and maintain strong relationships with your suppliers and ensure you have the appropriate procurement documents. You’ll learn how to successfully negotiate at different stages of the procurement process and understand why constantly reviewing the process is important for profitability.

Contents

Procurement and the accountant

What is procurement?
Why use a formal procurement process?
Buying success
Why should you be involved?

Best practice

The procurement process – an overview
Define the business need
Specify the exact requirement
Strategic purchasing planning
Strategy or tactics?

The supplier relationship

The next step
The good , the bad and the ugly
Supplier evaluation
Creating a strategic sourcing plan

Documentation

Documentation for every stage
Examples of procurement documents
Structure of a procurement document
The procurement department

Preparing for win-win

Negotiating as part of a long-term relationship
The concept of win-win
Preparing for a negotiation
LIM analysis of objectives
Planning strategy
Negotiation techniques
Negotiation tactics
Dealing with underhand tactics

The negotiation process

When things go wrong
Negotiation steps
Step one: presenting
Step two: proposing
Step three: packaging
Step four: closing
Making concessions

Power and problems in negotiations

Power in the negotiation arena
Power in negotiations
Rules for team negotiating
Dealing with problems
Problems in negotiations
Breaking a deadlock
Negotiation review

Is it actually working?

Procurement sense check
Profitability
Procurement best practice
Final tips

How it works

Author

Yusuf Justin Holcroft

Yusuf Justin Holcroft

Yusuf Justin Holcroft is a Director of CTS Consulting and Training Specialists (Pty) Ltd, a South African company specialised in business rescue, turnaround and expansion.