Effective Procurement Management – Cost Savings and Negotiation Strategies

27-28 May, 2024, Wyndham Grand Bangsar Kuala Lumpur

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Learn from the Best

Mr. Steven Yeo

MBA in Supply Chain Management (USA)

Certified HRDF Trainer (TTT certificate number 4669)

Certified Professional Trainer and Facilitator (University Malaya, Malaysia)

 

Steven Yeo has more than 33 years of corporate working experience in the area of Supply Chain Management.He specializes in training, facilitation and consulting to both the public and private sector in Malaysia and abroad in the areas of Procurement, Supplier Management, Warehousing, Logistics and Supply Chain, Risk Management, International Payment System and Operations.

 

Steven’s last position before retiring from full time corporate employment in 2019, was as Company Director and Supply Chain Manager for a multinationalFrench Company in Melaka.

 

Among his many major achievements include the following:

• Managing and spearheading a cost reductionmanagement program from 2008 to 2013 and reduced cost for the company by up to RM6.5 mil.

• Involve in managing suppliers’ contractand involving in proposing and drafting new contract and contract renewal for suppliers from 2008 until 2019 (early retirement) by working with suppliers and internal stakeholders withguidance from legal expert.

• Managing Non-Disclosure Agreement with suppliers to protect company intellectual property.

• Involve in negotiating with a major customer from Europe to secure new contract and beside visitingoverseas suppliers for performances improvement and selection of new suppliers.

• Establishing control and procedure and bringingawareness to employee on important of supply chain control in 2004 until 2019 and achieving 100% shipment performances to customers

• Introducing new procedures in warehouse and operation for better control of operation and reporting system

 

Steven Yeo has trained a wide range of organizations such as:

 

Sepang Aircraft Engineering (a subsidiary of AIRBUS), Inari Amerton Berhad, Syarikat Wen Ken Drug Sdn Berhad, MyMedic Innovation Sdn Berhad, Q Value ADD Penang, World Kitchen Berhad (Pasir Gudang), Food Excellence Sdn Berhad, Nanmu Yarn Manufacturing, Chuen Cheong Food Industry, Syarikat Batu Bata Kia Lim Berhad, Accenture, Continental Tyres Malaysia, Plexus Malaysia, Escatec Manufacturing, Canon Medical System, Kian Joo Manufacturing, Frenken Mechatronics, Hershey Foods, BINA Plastics, Kian Joo, AUO Sun power, Alliance Contract Manufacturing, Everbest Bio Tech Kulim, Infineon Malaysia, Adient Malaysia, COHU Malaysia, Overland Total Logistics, Toshiba Transformers Malaysia and Overseas training program in Dubai and India sub-continent.

 

Steven Yeo’s extensive industry experience enriches his training sessions as he openly shares both successes and failures from the Supply Chain industry. The participants consistently praise his adeptness in imparting practical knowledge and skills, and they value his insights that have proven to be instrumental in saving them considerable resources, time, and potential errors.

Venue Details

Wyndham Grand Bangsar Kuala Lumpur
Jalan Pantai Baharu, Jaya Tower 3,
Phone : 03-2298 1888

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Module 1 – Cost Reduction and Cost Avoidance
  • Module 2 – Managing Powerful Suppliers
  • Module 3 – Understanding Suppliers Traits and Behaviors for Negotiation
  • Module 4 – Key Principle of Negotiation
  • Module 5 – Principled Negotiation
  • Module 6 – Understanding your Alternatives
  • Module 7 – Dealing with Offer and Rejection
  • Module 8 – Negotiator Profile and Traits
  • Module 9 – Influencing Strategy
COURSE OBJECTIVES

To improve company profitability and the ability to drive up market share, the demand for effective and efficient procurement management is a prerequisite. Key competencies in the area of cost control, applying strategic strategy to manage supplies and the negotiation of the most advantageous benefits to the company are extremely important.

This course promotes the key competencies to manage procurement and purchasing effectively by delivering the technique of managing cost saving activities and handling effective negotiation.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. IDENTIFYING the type of negotiation strategy to be in place to managing procurement negotiation.
  2. DEVELOPING skills in handling difficult negotiations.
  3. UNDERSTANDING successful negotiator techniques.
  4. UNDERSTANDING the positive traits to develop in order to be a successful negotiator.
  5. IDENTIFYING own and opponent strength and weakness and developing alternatives before going into negotiation.
  6. UNDERSTANDING the correct techniques of cost reduction using the ERRANT methodology.
  7. DEVELOPING competencies in handling cost savings and negotiation.
WHO SHOULD ATTEND
This Course Is Highly Recommended For Employees Involved In The Management Of The Supply Chain Function In The Company, For Example, Personnel From The Procurement, Warehouse, Logistics And Planning Department And Finance.
METHODOLOGY

This training will involve the following area to enhance learning:

  • Case Studies & Brain Storming Session
  • Discussion On Subject Of Learning
  • Interactive Facilitating by trainer to enhance understanding of subject matter
  • Participants will receive a Case Study on the first day of the class on Negotiation and Cost Reduction. They will be expected to present their solutions for the cost reduction case study by the end of Day 1, and for the negotiation case study by the end of Day 2.
Day 1
9:00

MODULE 1 – COST REDUCTION AND COST AVOIDANCE

  • Cost Reduction versus Cost Avoidance
  • Area of Cost Reduction and Cost Avoidance
  • Key Factors to consider in Cost Reduction
  • Opportunity cost in cost reduction activities
  • ERRANT cost reduction and avoidance strategy
  • Team setting for cost reduction
  • EXCEL spreadsheet reporting on cost avoidance and reduction
  • Break out room discussion
10.45

MODULE 2 – MANAGING POWERFUL SUPPLIERS

  • Problems with powerful suppliers
  • Strategies to control powerful suppliers
  • Bringing new value to the supplier
  • Changing buying strategy
  • Create new source
  • Play hardball
12.00

MODULE 3 – UNDERSTANDING SUPPLIERS TRAITS AND BEHAVIORS FOR NEGOTIATION

  • Key suppliers’ traits that all buyers looking for
  • The Leader
  • The Innovative
  • The Monopoly
  • The Follower
  • The Complacent
  • Understanding the Negotiation Competitiveness Model
  • Integrative or Distributive negotiation
  • Case study
1:00 Lunch
2:00

MODULE 4 – KEY PRINCIPLE OF NEGOTIATION

  • What is Negotiation?
  • Stages of Negotiation
  • 5 principles of ethical negotiation
  • 7 elements of negotiation
3:45

MODULE 5 – PRINCIPLED NEGOTIATION

  • 4 key principles of principled negotiation
  • Generate Option for positive result
  • How to use Objective Criteria to Present Argument
  • Handling Challenges
  • Getting a Yes in negotiation
5:00 End of Day 1
Day 2
9:00

MODULE 6 – UNDERSTANDING YOUR ALTERNATIVES

  • Definition of WATNA and BATNA
  • Steps to develop your alternatives
  • Looking for ZOPA
10.45

MODULE 7 – DEALING WITH OFFER AND REJECTION

  • Deciding red lines in negotiation
  • Understand when to walk away
  • Managing Reject and counteroffer
  • Dealing with difficult negotiators
1:00 Lunch
2:00

MODULE 8 – NEGOTIATOR PROFILE AND TRAITS

  • Negotiation Team
  • The Soft Negotiator
  • The Principled Negotiator
  • The Hard Negotiator
  • Traits of a good negotiator
  • Bad Negotiator habits
  • Mistakes made in Negotiation
  • Body language in negotiation
  • Bad Negotiator habits
  • Mistakes made in Negotiation
  • Body language in negotiation
  • Dealing with difficult negotiators
  • Break out room discussion and role play
3:45

MODULE 9 – INFLUENCING STRATEGY

  • Why Influencing is Important
  • How do you build Influence
  • Positive Influencing others
  • Key Sources of Influence
  • Power strategy versus Influencing strategy
  • 3 Rs of Influencing Strategies
  • SWOT analysis
  • Case study and Role Play
5:00 End of Course