Procurement & Vendor Management

About this Course

Procurement & Vendor Management is a practical and strategic course designed to equip professionals with the essential skills needed to source goods and services efficiently while building strong, value-driven supplier relationships. In today’s competitive and cost-sensitive business environment, effective procurement is not just about purchasing—it is about strategic planning, cost control, risk management, and ensuring consistent quality and reliability.

This course provides participants with a clear understanding of the procurement lifecycle, from needs identification and supplier selection to contract negotiation and performance evaluation. Learners will explore best practices in vendor assessment, price negotiation, contract administration, ethical sourcing, and supplier relationship management. The training emphasizes transparency, compliance, and accountability to ensure procurement processes align with organizational goals and regulatory standards.

Through real-life case studies, interactive exercises, and practical tools, participants will gain the confidence to manage suppliers professionally, reduce procurement risks, and achieve cost efficiency without compromising quality. Whether you are a procurement officer, operations manager, business owner, or administrative professional, this course strengthens your ability to manage vendors strategically.

Course Outline

Introduction to Procurement Fundamentals

• Understanding procurement principles

• The procurement lifecycle

• Roles and responsibilities in procurement

• Ethical sourcing practices

Supplier Identification and Selection

• Market research and supplier sourcing

• Vendor evaluation criteria

• Request for quotation (RFQ) and tendering processes

• Due diligence and risk assessment

Negotiation and Contract Management

• Price negotiation strategies

• Drafting and reviewing contracts

• Service level agreements (SLAs)

• Managing contract performance

Vendor Relationship Management

• Building long-term supplier partnerships

• Communication and collaboration strategies

• Managing vendor performance

• Resolving disputes professionally

Cost Control and Procurement Planning

• Budget alignment and cost analysis

• Total cost of ownership

• Demand forecasting

• Inventory coordination

Risk, Compliance, and Governance

• Identifying procurement risks

• Regulatory compliance requirements

• Fraud prevention and internal controls

• Audit and documentation standards