CONTRACT NEGOTIATION & PURCHASING

Introduction:

In today's dynamic business environment, mastering contract negotiation and purchasing strategies is essential for ensuring operational success and maximizing value. Professionals must be equipped with the right skills to negotiate favorable terms, manage supplier relationships, and secure the best procurement outcomes in this regard Seattle International Institute for Training offers a specialized program aimed at enhancing participants' negotiation capabilities and purchasing management techniques ,This course blends theoretical foundations with practical approaches, enabling participants to lead negotiation processes and procurement activities with confidence and strategic insight.

Objectives:  

Participants in this course will learn to:

Ø  Develop effective negotiation skills tailored for purchasing and contracting scenarios.

Ø  Understand critical stages and techniques in procurement management.

Ø  Learn to build strong, sustainable supplier relationships.

Ø  Enhance capabilities to manage contract terms, risks, and obligations.

Ø  Improve strategic decision-making in purchasing and contract negotiations.

Target Audience:

This course is ideal for:

Ø  Procurement and purchasing managers.

Ø  Contract negotiators and contract managers.

Ø  Supply chain and logistics professionals.

Ø  Project managers involved in procurement activities.

Ø  Professionals seeking to enhance their negotiation and purchasing expertise.

Course Outline:

Day 1: Introduction to Contract Negotiation and Purchasing

• Overview of procurement and purchasing processes.
• Fundamentals of contract negotiation.
• Understanding procurement objectives and strategies.
• Key principles of supply management.
• Identifying stakeholder roles in procurement and contracting.

Day 2: Preparing for Successful Negotiations

• Setting negotiation goals and objectives.
• Conducting supplier research and market analysis.
• Building negotiation strategies and tactics.
• Managing internal communications and approvals.
• Understanding cultural and ethical considerations in negotiations.

Day 3: Conducting Effective Negotiations

• Negotiation phases and techniques.
• Managing offers, counteroffers, and concessions.
• Handling difficult negotiations and resolving conflicts.
• Achieving win-win outcomes in supplier discussions.
• Documenting and formalizing agreements.

Day 4: Advanced Purchasing Management

• Supplier evaluation and selection criteria.
• Contract drafting essentials for purchasing agreements.
• Managing supplier performance and KPIs.
• Risk management in procurement activities.
• Strategies for cost reduction and value creation.

Day 5: Finalizing Contracts and Continuous Improvement

• Final contract review and approval processes.
• Monitoring compliance and contract execution.
• Dispute management and contract amendments.
• Lessons learned and best practices in purchasing and contracting.
• Continuous improvement strategies for procurement operations.