Executive Development Programme in Material Procurement Best Practices

• Introduction to Material Procurement: Understanding the fundamentals of material procurement, its importance, and the role of an executive in the process. • Procurement Strategy Development: Creating strategic plans for material procurement, including setting objectives, identifying risks, and selecting suppliers. • Category Management: Managing procurement categories effectively, including identifying key categories, setting policies, and monitoring performance. • Supplier Relationship Management: Building and maintaining positive relationships with suppliers, including negotiation, communication, and collaboration. • Cost Management and Analysis: Analyzing and controlling costs associated with material procurement, including identifying cost drivers, conducting cost-benefit analyses, and implementing cost-saving measures. • Contract Management: Managing contracts effectively, including drafting, negotiating, executing, and monitoring contracts with suppliers. • Risk Management in Procurement: Identifying and mitigating risks associated with material procurement, including supply chain disruptions, compliance issues, and financial risks. • Technology in Procurement: Leveraging technology to improve procurement processes, including e-procurement systems, data analytics tools, and artificial intelligence. • Sustainable Procurement Practices: Implementing sustainable procurement practices, including considering environmental impact, ethical considerations, and social responsibility.