Buying Success: The Procurement Role in Long Term Profitability

by Yusuf Justin Holcroft
access120 days access
cpd hours4 CPD hours
price£75+vat

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

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.

Procurement and the accountant

  • What is procurement?
  • Why use a formal procurement process?
  • Buying success
  • Procurement in your organisation

Best practice

  • The procurement process - an overview
  • Defining the business need
  • The procurement process in your organisation
  • Strategic purchasing planning
  • Strategy or tactics?

The supplier relationship

  • Supplier evaluation
  • The ongoing supplier relationship
  • Resolving quality issues

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

The negotiation process

  • Negotiation steps
  • Step one: presenting
  • Step two: proposing
  • Step three: packaging
  • Step four: Closing
  • Making concessions

Power and problems in supplier negotiations

  • Power in negotiations
  • Rules for team negotiating
  • Dealing with problems
  • Problems in negotiations
  • Negotiation review

Is it actually working?

  • Procurement sense check
  • Conflict of interest
  • Profitability
  • Procurement best practice

Yusuf Justin Holcroft is a Director of CTS Consulting and Training Specialists (Pty) Ltd, a South African company specialised in business rescue, turnaround and expansion.

He became Trade Development Manager at Coca-Cola Amatil Austria in 1996, and subsequently worked with the Iams Company and Procter & Gamble fulfilling country manager roles for Austria, Switzerland and South Africa. His speciality lies in the sales and marketing arena, with particular emphasis on sales planning, key account management and strategic sales development.

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