Buying Success: The Procurement Role in Long Term Profitability
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.
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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.
Look inside
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
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Why not upgrade?Find the best way to complete your CPD | CourseNeed just a few unitshourshours? | Pick n MixAll you need for this year's CPD. | LicenceAll you need for this year and more. | TeamKeep your whole team up to date. |
|---|---|---|---|---|
| Access to this course | ||||
| Total CPD unitshourshours | 4 unitshourshours | 21 units20 hours21 hours | 800+ unitshourshours | 800+ unitshourshours |
| Access period | 120 days | 120 days Access to end 2025 | 12 months | 12+ months |
| Audit-proof CPD completion certificate | ||||
| Immediate access to our entire CPD catalogue | ||||
| Exclusive news and CPD every week plus monthly webinars, all year round | ||||
| Account manager on hand to support your team’s needs | ||||
| Learn more | Learn more | Learn more | ||
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Use CPA101 for 10% off any purchase.