Buying Success: The Procurement Role in Long Term Profitability

by Yusuf Justin Holcroft

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.

price £75+vat
cpd hours 4 CPD hours
access 120 days' access

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

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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
    • Defining 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
    • The ongoing supplier relationship
  • 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

Author

Yusuf Justin Holcroft

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.

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Access to this course
Total CPD unitshourshours4 unitshourshours21 units20 hours21 hours800+ unitshourshours800+ unitshourshours
Access period120 days120 days12 months12+ 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 teamís needs
Learn moreLearn moreLearn more
Recommended

Why not upgrade?

Find the best way to complete your CPD

Licence

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 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

Why not upgrade?

Find the best way to complete your CPD

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
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

Why not upgrade?

Find the best way to complete your CPD

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
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

Why not upgrade?

Find the best way to complete your CPD

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ 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

Why not upgrade?

Find the best way to complete your CPD

Licence

Recommended

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 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

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
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

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
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

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ 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

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