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Contract Management

  • 4.7(45,580 Rating)

Course Overview

Purchasing advance is at the heart of the supply chain function. The purchasing department can spend up to 70% of a company’s money which means that the money should be spent very carefully. In this course, we will explore the strategic role of the purchasing function and how this department can contribute to the entire organization. Supplier evaluation and negotiation will be discussed to maximize the contribution of the purchasing department. Furthermore, the latest innovative techniques for continuous improvement in the purchasing department will be explored.

learning outcomes

Successful completion of the CPCM Certification in Dubai will help you to:

  • Identify the important organizational role of the purchasing department(advance)
  • Use proper negotiation techniques with suppliers
  • Evaluate the performance of the department at the macro level
  • Decide how to choose the best suppliers for their operations
  • Apply the latest innovative purchasing techniques

Target Audiance

  • The eager entrepreneur, seeking to master contract negotiation tactics for business growth.
  • The meticulous legal professional, honing their skills in drafting airtight contracts to mitigate risks.
  • The astute project manager, aiming to streamline procurement processes through effective contract management strategies.

Schedule Dates

Contract Management
17 September 2024 - 20 September 2024
Contract Management
17 December 2024 - 20 December 2024
Contract Management
17 March 2025 - 20 March 2025
Contract Management
17 June 2025 - 20 June 2025

Course Content

  • Total value analysis
  • Linking the purchasing function to the organization’s strategy
  • Optimizing purchasing productivity
  • Proper buying of materials
  • Proper buying of services
  • Proper buying of capital equipment
  • Speeding up the production of the final product
  • Linking the purchasing function to the other supply chain functions

  • Qualities of a successful negotiator
  • Proper planning strategies
  • Preparing the right list of questions
  • Things to do before the negotiation
  • Things to do during the negotiation
  • Things to do after the negotiation
  • The right time to negotiate with suppliers
  • The number of suppliers to negotiate with
  • Choosing the right suppliers

  • Centralization versus decentralization
  • Advantages of centralized purchasing
  • Advantages of decentralized purchasing
  • Reasons for departmental performance appraisal
  • Creating a strong purchasing team
  • Distributing the correct workload among the buyers
  • Increasing the efficiency of the buyers
  • Increasing the team spirit within the department
  • Designing and conducting end users surveys

  • Technical training on purchased items to increase productivity
  • The number of training hours per year
  • Visiting the supplier plant as a training tool
  • Visiting the supplier warehouse as a training tool
  • Commodity rotation as a training tool
  • Continuous professional development
  • Training on ethical behavior

  • Innovative purchasing methods
  • Implementing new creative purchasing ideas
  • Improvement initiatives
  • Monitoring global market conditions
  • Updating purchasing KPIs
  • The right number of purchasing KPIs
  • Adding value to the total organization

FAQs

Contract Management involves the administration of contracts made with customers, vendors, partners, or employees. It includes activities such as negotiation, execution, and analysis to maximize operational and financial performance while minimizing risk.

Effective Contract Management ensures that all parties involved adhere to the terms and conditions outlined in the contract, minimizing misunderstandings, disputes, and legal issues. It also helps organizations optimize their resources, reduce costs, and enhance their overall performance.

Professionals involved in procurement, legal affairs, project management, vendor management, or any role that requires dealing with contracts would greatly benefit from a Contract Management course. This includes contract administrators, procurement officers, project managers, and legal advisors.

Common challenges include poor contract visibility, ineffective communication between parties, changing regulatory requirements, scope creep, and insufficient resources for contract administration. A Contract Management course equips professionals with strategies to address these challenges effectively.

Participants in a Contract Management course typically develop skills such as negotiation, risk management, contract drafting, legal compliance, communication, and relationship management. They also learn about contract analytics and the use of contract management software.

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