The Art of Strategic Procurement

Strategic Sourcing Mastery: Unveiling the Art of Procurement Excellence

5 Found
Date Duration Venue Fees
06-10 May 2024 5 Days London - UK US$5,450 Register
05-09 Aug 2024 5 Days Dubai - UAE US$4,450 Register
04-08 Nov 2024 5 Days Dubai - UAE US$4,450 Register

Course Overview

In today’s dynamic and competitive business environment, procurement is no longer just a tactical function of buying goods and services. It has evolved into a strategic discipline that can drive significant value creation and competitive advantage for organizations. The Art of Strategic Procurement course equips the participants with the essential knowledge, skills, and tools to transform themselves from a transactional buyer into a strategic procurement leader.

A profitable enterprise is required to implement strategic procurement. Selected products, services, and materials that are essential for an organization to achieve its objectives require a perceptive and insightful judgement. Organizations can enhance their financial stability and optimize their purchasing power through the implementation of a strategic procurement approach.

Course Objectives

The course aims to transform both individuals and organizations by elevating the function from a tactical cost center to a strategic value driver. It offers individuals with the skills and knowledge to become effective partners in their organizations’ success, while also providing organizations with the tools and strategies to achieve significant cost savings, improved efficiency, and a competitive advantage.

After the training course, the participants will learn to:

  • Understand the evolving role of procurement in modern organizations.
  • Develop a strategic mindset for procurement and align it with organizational goals.
  • Master key procurement methodologies and frameworks, such as Total Cost of Ownership (TCO), Spend Analysis, and Category Management.
  • Enhance negotiation and supplier relationship management skills to secure optimal terms and value.
  • Leverage technology and data analytics to drive procurement excellence.
  • Develop effective communication and stakeholder management skills to influence and collaborate across the organization.

Target Audience

This course is designed for project procurement professionals and other project team members at all levels who are looking to develop their skills and knowledge to become strategic partners in their organizations. It is also beneficial for individuals in other business functions who want to gain a deeper understanding of the strategic value of procurement.

It is suitable for a wide range of working professionals, including (but not limited to) the following: 

  • Procurement and Supply Chain Professionals
  • Procurement and Supply Chain Managers
  • Business Owners/Entrepreneurs
  • Managers and Executives
  • Cross- functional teams
  • Anyone interested in business Strategy.
  • Potential Procurement Professionals

Training Methodology

The Art of Strategic Procurement course adopts a blended learning approach, combining interactive lectures, case studies, group discussions, simulations, and real-world examples to provide a comprehensive and engaging learning experience. Participants will have ample opportunities to apply their learnings through practical exercises and assignments, ensuring they leave the course with actionable insights and skills.

Course Outline

Day One

Introduction to Strategic Procurement

  • Understanding the Procurement Landscape
  • The Strategic Procurement Process
  • The role of procurement in value creation
  • The importance of Procurement in Business
  • Procurement’s Impact on organizational performance
  • Procurement and Supply Chain Resilience
Day Two

Procurement Planning and Analysis

  • What is Procurement Planning and Analysis?
  • The Needs assessment
  • Market Analysis and Intelligence
  • Scope of Work
  • The Procurement Management Plan
  • Change Management
  • The Spend Analysis, Methodologies and Tools
  • Sustainable Procurement
  • Technology and Innovation in Procurement
Day Three

Sourcing and Negotiation Strategies

  • Sourcing Methodologies in Strategic Procurement
  • Effective Communication in Procurement
  • Negotiation Strategies and Building Win-Win Strategies
  • Contract Management and Risk Allocation
  • Risk Assessment and Response Strategies in Procurement
  • Supplier Identification and Prequalification
  • Supplier Relationship Management
Day Four

Cost Management and Value Optimization

  • What is Total cost of Ownership?
  • Life Cycle Cost Analysis
  • What is Value Optimization?
  • Value based sourcing in Procurement.
  • Cost Reduction Strategies
  • Supplier Performance Management and Improvement
Day Five

Communication and Dispute Resolution

  • The need for Effective Communication
  • The Stakeholders and effects on Procurement Activities.
  • What are the Exceptional Events?
  • Force Majeure and Hardship Clauses
  • The Dispute Resolution and Avoidance in Procurement


Upon successful completion of this training course, Newage Certificate will be awarded to the delegates.

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