In an environment characterized by many unknowns, purchasing 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 collaborative relationships.
The objective of this program is to highlight to procurement/purchasing personnel the various methods and techniques to achieve savings. Participants will be exposed to the basic principles of purchasing, sourcing and evaluation of vendors, quality control and negotiate better to achieve cost savings. Understanding the impact of Inventories on purchasing decisions.
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