Procurement & Inventory Management

Duration 14 Hours
Tel 68263049

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1. Definition of Procurement
    - Roles and responsibilities of procurement
    - Operational strategies
    - Financial strategies
    - Marketing strategies
    - The 5 ‘Rights’ of procurement

2. Procurement Profitability And Added Value
    - The evolution of procurement
    - Procurement and the change
    - Buyer’s and seller’s strengths matrix

3. Negotiation In Procurement
    - What to negotiate?
    - Negotiation techniques
    - Negotiation guides to preparation
    - The 6 basic steps in negotiation
    - The 3 categories in negotiation
    - Summary of bargaining stages
    - 7 Critical mistakes in negotiation
    - General rules in negotiation

4. Cost Reduction Techniques
    - Purchasers’ cost reduction responsibilities
    - Changing the roles of procurement and its perception
    - Cost reduction process
    - ABC cost reduction analysis
    - Direct materials cost reduction
    - Indirect Materials Cost Reduction (MRO items)
    - Suppliers cost reduction responsibilities
    - Developing procurement personals’ KPI/KRA

At the end of the 2-day programme, participants will be able to:

1. Understand the operational, financial and marketing strategies of procurement;

2. Obtain up-to-date negotiation techniques and effective guides in preparing a negotiation;

3. Master the cost reduction process and techniques in procurement;

4. Develop competency and commitment in cost reduction responsibilities;

5. Understand the benefits of benchmarking application in procurement management;

6. Master the five crucial stages of benchmarking implementation process; and

7. Improve the procurement functions and contribute to organisation’s efficiency, productivity and profitability.


2 days (9.00am ~ 5.00pm)

SMF Members: $556.40*
Non-Members: $599.20*
*Prices are inclusive of 7% GST

Telephone: 6826 3100
Fax: 6826 3113

Terms & Conditions

1. All notice of withdrawal must be given in writing before the issuance of letter of confirmation. Once confirmation letter is sent to participant, no cancellation will be allowed or penalty charges will apply.

If notice of withdrawal is received:

- At least 1 week before commencement of the course, a 20% of the full course fee will be charged. For government-funded course, a 20% of full course fee before funding will be charged.

- Less than 1 week before commencement of the course, a 30% of the full course fee will be charged. For government-funded course, a 30% of full course fee before funding will be charged.
- No show on the scheduled date, a full course fee will be levied. For government-funded course, a full course fee before funding will be charged.

2. For all government-funded programmes (WSQ & Non-WSQ), funding is only applicable to:
- Singapore Citizens or Singapore Permanent Residents
- Participants who have achieved at least 75% attendance and sat for all required assessments

Full course fee will be charged to participants who fail to meet the above-mentioned criteria.

3. When a course is cancelled, fail to commence or fail to complete under unforeseen circumstances, participant is allowed to defer the intake at no cost or withdraw from the course; under such situation, a full refund of the advance payment will be given.

4. Notice of change in participant’s name must be given in writing, not less than 5 days before the course commencement date.

5. SMF CCL reserves the right, at our sole discretion, to change, modify or otherwise alter these terms and conditions at any time. Such modifications shall become effective immediately upon the posting thereof.