Procurement Negotiations & Cost Management

The Procurement Negotiations and Cost Management training is designed to help professionals enhance their proficiency in strategic cost management and negotiation techniques for procurement. In this comprehensive training, participants gain mastery of the best industry practices implemented for effective procurement processes. This course is suitable for professionals who are currently employed in the purchasing and operational departments of their organizations.

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  • 30 Hours Training
  • Online / Classroom / Onsite
  • 28 Jul, 2024 / 28 Jul, 2024
  • Additional Program Dates
  • 100K+ Happy Students

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What is this Procurement Negotiations and Cost Management course all about?

The Procurement Negotiations and Cost Management training offers professionals a comprehensive understanding of advanced negotiations and procurement management processes. This course discusses the principles and techniques of negotiation for effective cost management during procurement. A variety of instructional methods are used in this course including lectures and group discussions. Participants enhance their theoretical as well as practical knowledge by exploring the current best practices for procurement negotiations and learning ways to implement them in their organizations.

Why is getting trained on Procurement Negotiations and Cost Management important?

The Procurement Negotiations and Cost Management training is crucial for professionals to get equipped with the knowledge of essential negotiation and cost management techniques for procurement. Through this training, participants can enhance their workplace skills to have a win-win outcome for cost management in the procurement department. Furthermore, participants learn to plan and prepare negotiation meetings and apply effective cost management approaches for their organizations.

Why do companies hire professionals with Procurement Negotiations and Cost Management certification?

Procurement is an essential segment in an organization that enables securing a wide range of resources efficiently and effectively. Companies hire skilled procurement professionals with demonstrated negotiation and cost management skills to help them achieve their organizational goals. Their credibility in tightly linking procurement strategy to corporate and business unit strategy makes them of great significance in today’s procurement sector.

Industry Trends

Procurement professionals are increasingly being demanded by businesses to deliver growth and improve margins. The Procurement Negotiations and Cost Management certification comes with its own set of merits and opportunities in the market. Let us see how.

Market trends

As a profession, procurement is starting to get recognition as a major contributor to the overall growth of a company, hence unlocking great career opportunities for industry professionals. This exponential growth has made a significant mark on the demand for procurement professionals in the employment market. Job roles such as purchasing managers take up the bright spot in the procurement field with about 45,000 openings in the market.

Salary Trends

Today, procurement is one of the fastest-growing fields worldwide that offers a plethora of job opportunities with impressive salary packages. As per the data from glassdoor.com, the average total compensation of purchasing managers is AED 10,000 per month in Dubai, United Arab Emirates.

Demand & Opportunities

Competition for job roles is keen as procurement is increasingly recognized as an essential part of any business. The Procurement Negotiations and Cost Management certification give an assurance of the necessary competency in related roles, thus making these opportunities easier to avail.

A few of the most-sought procurement jobs available in the Dubai region (as observed in popular Dubai job portals) follow:

  1. Procurement Buyers are responsible for identifying and procuring the goods and services that an organization requires
  2. Purchasing Executives manage inventories and maintain accurate purchase and pricing records
  3. Procurement Specialists are responsible for a myriad of processes including supply chain management, evaluating suppliers, purchase orders, purchasing goods or services, and contract negotiation
  4. Senior Buyers find suppliers, arrange the distribution to several retail outlets and supervise other purchasing agents
  5. Senior Procurement Managers develop sourcing and procurement activities that support key business objectives

Course Outcome

Successful completion of the Procurement Negotiations and Cost Management course will help you to:

  • Gain a comprehensive understanding of advanced negotiations and procurement management processes
  • Understand and implement strategic cost management and negotiation techniques for procurement
  • Explore best industry practices implemented for effective procurement processes
  • Identify the key steps to follow before and after procurement negotiation
  • Maximize value creation by achieving cost savings and other initiatives

Course Module

  • Source to Procure to Pay (s2P2P)
  • Procure to Pay (P2P)
  • Standard cycle process
  • Procurement types
  • Stock & non-stock
  • Capex & Opex
  • Process of Negotiation
  • Approach to Parameter
  • Current affairs in the market
  • Integrating GDP & economy
  • Types  of contract
  • Parameters in contract
  • Elements of a contract
  • Qualitative approach
  • Quantitative approach
  • Sourcing process
  • Contracts under sourcing
  • Resource management in sourcing
  • Identification of KPI
  • Defining the KPI
  • Supplier relationship management (SRM)
  • Price as a process
  • Cost centres & applications
  • Primary stakeholders
  • Secondary stakeholder
  • Cross trades
  • Exports & imports
  • EXIM loans
  • LC

Program Dates

28 Jul
  • 02:00 PM
  • Sun
  • Classroom
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Expert Instructors & Teaching Methods

 

 

We, at Learners Point, take immense pride in our teaching methods and instructors. Our instructors are some of the best experts in their fields and employ a practical approach to learning. Many of them are globally recognised and have a diverse set of experience in their field of expertise. You are always sure to have the best in the industry as your teachers who are ready to guide you at every step and make the experience informative yet enjoyable.  Apart from the focus on learning your chosen course, our instructors also encourage students to develop communication skills and interpersonal skills necessary to excel in the practical world.

Our cutting edge teaching methods make every program an immersive and productive experience for the learners. Our learning methods are research-driven and are continuously updated to stay relevant to present times as well as the future. You will enjoy practical applications of everything learned through theory and regular mock examinations to help monitor your progress. Our courses are led by an instructor in a classroom setup and we do offer online high-quality sessions as well for individuals. We also monitor the training sessions with a progress tracker to maintain high standards of instruction & ethics.

Our Trainers

Why Count on Learners Point?

Being the leading provider of Procurement courses in Dubai, at Learners Point we help professionals master the necessary skill sets by completing the Procurement Negotiations and Cost Management training. 

Following are the USPs our Procurement Negotiations and Cost Management training course offers you:

  • We look at real-world scenarios organizations face and formulate our Procurement Negotiations and Cost Management training course evaluating practical requirements
  • Apart from theoretical knowledge, we also focus on practical case studies to give you a reality check and insight into what exactly will be asked of you while delivering in a demanding role
  • Our bespoke Procurement Negotiations and Cost Management course also equips you with hands-on experience by offering assignments related to the actual work environment
  • Apart from organizing group sessions, we also offer a guided learning experience to enhance the quality of our Procurement Negotiations and Cost Management training program
  • We also take a discrete approach to career guidance so that one can be successfully placed as a professional

Learners Experience

"Completing the Procurement Negotiations & Cost Management program opened doors to my career as a Contract Negotiator. I now confidently negotiate contracts, ensuring favorable terms and cost-effective agreements."

Miyana Rauth

Contract Negotiator

"The Procurement Negotiations & Cost Management program has equipped me with the skills to excel as a Cost Analyst. I analyze procurement data, identify cost-saving opportunities, and contribute to our organization's profitability."

Kunwar Shah

Cost Analyst

"Thanks to the Procurement Negotiations & Cost Management program, I've become a proficient Supplier Relationship Manager. I use advanced negotiation techniques to build strong partnerships and manage costs effectively."

Sana Rihad

Supplier Relationship Manager

Our Graduates

Our graduates are from big companies, small, companies, they are founders, career changers and life long learners. Join us and meet your tribe!

FAQs on Procurement Negotiations & Cost Management

As a profession, procurement is starting to get recognition as a major contributor to the overall growth of a company, and hence offers plenty of great opportunities for skilled and qualified professionals. Especially with an expert level of knowledge, one can easily find his/her way to top positions as it equips them with the versatility to take their career paths to higher levels. With great pay and opportunities for growth, procurement is a lucrative career path.
The Procurement Negotiations and Cost Management course module is underpinned by essential procurement negotiation and cost management principles and models that will equip you and your organisations for current and future challenges. With ample case studies and open key discussions on current topics relevant to the procurement profession, this course offers a guided learning experience that enables you to gain deep practical insights and update your knowledge on significant policy development in procurement.
There are no specific prerequisites required to enrol in this Procurement Negotiations and Cost Management training. However, we do recommend participants to have a basic understanding of procurement.
At Learners Point, if a participant doesn’t wish to proceed with the training after the registration due to any reason, he or she is entitled to a 100% refund. However, the refund will be issued only if we are notified in writing within 2 days from the date of registration. The refund will be processed within 4 weeks from the day of exit.
As organizations are turning to procurement professionals to deliver growth and improve margins, great career options are opening up. The rapid growth of the Gulf region is fuelling demand for procurement professionals, both in the private and public sectors. This can lead to a bright future and impressive job prospects for procurement professionals in the UAE.
This Procurement Negotiations and Cost Management training is designed to offer a comprehensive introduction to procurement and the best negotiation and cost management practices in the sector and so is ideal for professionals employed in the purchasing and operational departments
The training at Learners Point is interactive, immersive, and intensive hands-on programs. We offer 3 modes of delivery and participants can choose from instructor-led classroom-based group coaching, one-to-one training session, or high-quality live and interactive online sessions as per convenience.
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