Course Overview:
The Strategic Management of Contract & Supplier Relationships course is a five-day program designed to empower professionals with the knowledge and skills required to effectively manage contracts and cultivate strong supplier relationships. Participants will gain insights into the strategic aspects of contract management, negotiation techniques, and best practices for building collaborative and sustainable partnerships with suppliers.
Course Objectives:
- Fundamentals of Contract Management:
- Understand the basics of contract management, including drafting, negotiation, and execution.
- Explore different types of contracts and their implications.
- Learn to create clear, enforceable contracts that align with organizational objectives.
- Strategic Supplier Relationship Management (SRM):
- Recognize the strategic importance of supplier relationships.
- Develop techniques for assessing and segmenting suppliers.
- Understand how to align supplier relationships with organizational goals.
- Negotiation Skills for Contract Management:
- Acquire effective negotiation skills for successful contract outcomes.
- Explore principled negotiation techniques.
- Learn how to handle conflicts and disputes during negotiations.
- Risk Management in Contracts:
- Identify and assess potential risks in contracts.
- Implement strategies for mitigating and managing risks.
- Understand the role of risk management in the contract lifecycle.
- Continuous Improvement and Performance Monitoring:
- Explore methods for continuous improvement in contract and supplier management.
- Develop key performance indicators (KPIs) for supplier performance evaluation.
- Learn to conduct effective post-contract evaluations and reviews.
Course Duration
- Physical/Classroom-based 5 Days
- Online 5 Days
Course Outline:
Day 1: Fundamentals of Contract Management
- Introduction to Contract Management
- Types of Contracts and Their Features
- Drafting and Negotiating Contracts
- Contract Execution and Implementation
Day 2: Strategic Supplier Relationship Management (SRM)
- Importance of Supplier Relationships
- Supplier Segmentation and Categorization
- Strategies for Building Strong Supplier Partnerships
- Case Studies on Successful SRM
Day 3: Negotiation Skills for Contract Management
- Basics of Effective Negotiation
- Principled Negotiation Techniques
- Conflict Resolution in Contract Negotiations
- Practical Negotiation Exercises
Day 4: Risk Management in Contracts
- Identifying Contractual Risks
- Risk Mitigation and Management Strategies
- Legal Aspects of Contractual Risk
- Case Studies on Contractual Risk Management
Day 5: Continuous Improvement and Performance Monitoring
- Implementing Continuous Improvement in Contract Management
- Key Performance Indicators (KPIs) for Supplier Performance
- Post-Contract Evaluation and Reviews
- Course Recap and Certification Ceremony
Target Audience: This program is suitable for contract managers, procurement professionals, supply chain managers, and anyone involved in negotiating and managing supplier relationships.
Prerequisites: Basic understanding of contract management concepts and procurement processes.
Training Methodology
This practical and results-oriented Procurement, Logistics & Supply Chain Management training course is based on adult learning concept. It will be presented using a combination of interactive presentations, case studies, participant activities and exercises to maximise the impact of the learning experience. Delegates will have ample time to consider the ideas and apply the skills discussed.
Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants. Training manuals and additional reference materials are provided to the participants.
Certification: Upon successful completion of the program, participants will receive a certification in Strategic Management of Contract & Supplier Relationships from Skyrokers Training & Consultancy Institute at the end of the course, validating their expertise in optimizing contract outcomes and fostering strategic supplier partnerships.
