Strategic Sourcing & Negotiation

About this programme

The Strategic Sourcing & Negotiation programme is a comprehensive workshop that aims to equip professionals with the skills and knowledge needed to effectively source goods and services for their organisations. The programme covers a wide range of topics, including supplier selection, contract negotiation, cost analysis, and risk management. Through interactive lectures, case studies, and hands-on exercises, participants will learn how to develop and implement effective sourcing strategies that align with their organisation’s goals and objectives. Additionally, they will learn how to negotiate with suppliers to secure the best possible terms and conditions for their organisation. By the end of the program, participants will have a solid understanding of the principles of strategic sourcing and negotiation and be able to apply these skills to real-world situations.

This programme is developed by Singapore Institute of Purchasing and Materials Management (SIPMM), with industry advisory from global providers and organisations that provide career pathways and job specifications for skills upgrading and mastery. The programme is facilitated by an expert trainer, who has extensive years of experience holding leadership positions in logistics, procurement, and supply chain management. The training session is expected to be lively and interactive, interspersed with relevant exercises and modern case studies on strategic sourcing and negotiation.

Why should you enrol in this programme?

There are several reasons why one should consider enrolling in a Strategic Sourcing & Negotiation programme:

1. Stay competitive: Understanding the principles of strategic sourcing and negotiation will give professionals an edge in today’s competitive business environment. They’ll be able to source goods and services at the best possible prices, which will ultimately benefit their organisation.
2. Increase efficiency: The programme will teach participants how to streamline the sourcing process, which will lead to increased efficiency and productivity.
3. Achieve cost savings: By learning how to negotiate effectively, professionals will be able to secure better terms and conditions from suppliers, resulting in significant cost savings for their organisation.
4. Develop a strategic mindset: The programme will give participants a holistic view of the sourcing process, teaching them to think strategically about sourcing decisions and how they align with their organisation’s goals.
5. Enhance career prospects: Professionals who have completed a Strategic Sourcing & Negotiation programme will be in high demand, as they will have the skills and knowledge needed to take on leadership roles in procurement and supply chain management.

Who should enrol in this programme?

The Strategic Sourcing & Negotiation programme is ideal for professionals in a variety of roles, including:

1. Procurement and Supply Chain Professionals: The programme is designed specifically for individuals working in procurement and supply chain management, who are responsible for sourcing goods and services for their organisation.
2. Operations Managers: Operations managers can benefit from the programme by learning how to negotiate with suppliers and secure the best possible terms and conditions for their organisation.
3. Financial Analysts: Financial analysts can use the knowledge gained from the programme to analyse costs and make strategic sourcing decisions that align with their organisation’s budget.
4. Supply Chain Analyst: Supply Chain Analysts are responsible for the flow of goods and services and will learn how to analyse costs and negotiate with suppliers to secure the best possible terms and conditions for their organisation.
5. Business Development Professionals: Business Development Professionals are responsible for the growth and development of their organisation and will learn how to negotiate with suppliers to secure the best possible terms and conditions for their organisation.
6. Entrepreneurs: Entrepreneurs who are looking to start their own business will learn how to negotiate with suppliers and secure the best possible terms and conditions for their organisation.

In general, the programme is suitable for any professional looking to improve their skills in procurement, supply chain management, and negotiation. It’s a great opportunity for anyone who wants to learn more about the sourcing process and how to make strategic decisions that align with their organisation’s goals and objectives.

How can you benefit from this programme?

Enrolling in a Strategic Sourcing & Negotiation programme can provide several benefits, including:

1. Improved negotiation skills: Participants will learn how to negotiate with suppliers to secure the best possible terms and conditions for their organisation.
2. Increased cost savings: Participants will learn how to analyse costs and make strategic sourcing decisions that align with their organisation’s budget, ultimately leading to significant cost savings.
3. Better supplier management: Participants will learn how to select, evaluate, and manage suppliers to ensure that they meet the organisation’s needs and expectations.
4. Enhanced risk management: Participants will learn how to identify and mitigate risks associated with sourcing decisions, ensuring that their organisation is protected from potential losses.
5. Greater understanding of the sourcing process: Participants will gain a comprehensive understanding of the sourcing process, from supplier selection to contract negotiation, which will enable them to make strategic decisions that align with their organisation’s goals and objectives.
6. Career advancement: Professionals who have completed a Strategic Sourcing & Negotiation programme will be in high demand, as they will have the skills and knowledge needed to take on leadership roles in procurement and supply chain management.
7. Increased efficiency: By learning how to streamline the sourcing process, participants will be able to increase efficiency and productivity, which will ultimately benefit their organisation.
8. Improved communication: The programme will teach participants how to communicate effectively with suppliers, which is essential for building strong business relationships.
9. Networking opportunities: The programme will provide participants with the opportunity to network with other professionals in their field, which can be valuable for future job opportunities or collaborations.

Overall, the Strategic Sourcing & Negotiation programme is a great opportunity for professionals to improve their skills, stay competitive in their field, and advance their careers. It can also provide a significant benefit to the organization by providing better services and increasing cost savings.

Qualify for Accredited Designation Award

At the end of this programme, each participant will attain a Certificate of Competency. This specialised Certificate of Competency is awarded by Singapore Institute of Purchasing and Materials Management (SIPMM) and is accredited by Logistics Institute of Singapore. When a participant attains 3 Competency Certificates, the participant can qualify for the Accredited Designation award. For more information about the qualifying criteria for the Accredited Designation award, please visit https://sipmm.edu.sg/ada/.