Winning Cost Management Strategies for Procurement

2 days’ workshop

INTRODUCTION

In order to be an effective, reduce cost for procuring, you will learn to formulate cost reduction strategies and position your organization to negotiate from strength. Risk modelling skills to reduce procurement cost will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.

Course Objectives                                                                                                                                   
By the end of this course you will be able to:

  1. Identify Ways to Shave Procurement Costs

  2. Ability to reduce Procurement Costs Through Direct Material Sourcing

  3. Understand when to enhance your Negotiating Power

  4. Identify Capex & Operational Expenditure for Saving

  5. Apply Risk Modelling Skills for Procurement

  6. Formulating the Cost Reduction Strategies for Your Organization Costs

METHODOLOGY

Case Study, Video & Group Discussion. Real-current problematic business cases will be analyzed and scenario solutions will be discussed within the workshop.

WHO SHOULD ATTEND

Head of Department, Purchaser, Accountants, Business Managers, Marketing Managers & Supervisors 

Special Feature: NOTE: Please bring laptop along

PROGRAMME OUTLINE

Day 1

Module 1: Ways to Shave Procurement Costs

  • Review the purchasing process

  • Look at historical data.

  • Spending profiles for key suppliers

  • Explore alternative suppliers

Module 2: Three “Cs” of Procurement Cost Reductions

  • Consolidate similar suppliers

  • Consignment-shopping

  • Customer agreements

Module 3: Reduce Procurement Costs through Direct Material Sourcing

  • Ensure suppliers share your growth strategy

  • Share R&D costs with selected industry peers

  • Conduct risk management

  • Utilize your brand strategy

Module 4: Successful Procurement Negotiation

  • Developing the Negotiation Strategy

  • Win-Win versus Win-Lose

  • Negotiating by Telephone

  • Criteria of Successful Negotiators

  • Evaluating Your Negotiation Performance


Day 2

Module 5: Strategy in Purchasing Management- Sourcing 

  • Steps in Cost Reduction

  • Identify Operational Expenditure for Saving

  • Identify Capex Expenditure for Saving

  • CFO Initiatives 

Module 6: Managing Material Costs

  • Procurement 

  • Inventory 

  • Design errors 

  • Technical errors 

  • Reject output 

Module 7: Risk Modelling Skills for Procurement

  • Analyzing the potential risks facing an organization

  • Mitigating controls 

  • Weight the financial impact 

  • Cost/benefit decision analysis

  • Risk Model software 

Module 8: Formulate Your Cost Reduction Problem

  • High production cost

  • High reject cost

  • Cash flow problem

  • High AR- collection Problem

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 Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA. 

Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years period

He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle,  IQPC Worldwide Pte Ltd , Singapore,  Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei,   Risda Group Of Companies,  Sales & Marketing Training  Forum, Sri Lanka, Giant Retail Sdn Bhd,  Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd,  Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd , Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK ; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd

He is currently providing management consultancy and training specialising in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.

Testimonials for Past Participants

“I find most useful in case study on Strategy in AP Management. Know more the cost reduction & expenses for saving” Toh May Ing, Account Executive, Harvest Aluminium Extrusions Sdn Bhd

“AP efficiency can lower the cost of expenses incurred” Pamela Eva, Account Assistant, Kuching Specialist Hospital SB

 “What I enjoyed from this cost reduction program is Dr liew sharing on his real experience; Cost saving method & Case Study”: HR Manager, Hock Seng Lee Concrete

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