INTERNATIONAL BUYING BEST PRACTICES

Objective:

• Identify and evaluate new international sourcing opportunities and suppliers
• Understand the impact of digital technologies and the internet on modern procurement operations
• Apply international purchasing best practices to improve procurement performance
• Develop effective strategies for managing global supplier relationships
• Apply modern inventory management concepts to support international procurement
• Strengthen negotiation skills for international purchasing environments
• Understand the principles of drafting and managing international procurement contracts
• Plan and manage international transportation and logistics efficiently

Content:

The Modern Buying Function

• Globalization and its impact on procurement
• Leveraging the internet and digital technologies for procurement
• Modern purchasing practices and trends
• Ensuring supplier performance and accountability
• Methods for determining pricing and procurement costs
• The strategic role of procurement within the organization
• Measuring procurement performance using Key Performance Indicators (KPIs)
• Long-term contract pricing strategies and formulas

International Buying

• Managing international purchasing operations
• Understanding international countertrade
• Achieving the benefits of global procurement
• Overcoming the challenges of international sourcing
• Applying the learning curve to procurement improvement
• Ensuring quality in international material deliveries
• Integrating inventory management with international purchasing
• Reducing inventory costs through effective procurement strategies

International Supplier Sourcing

• Preparing for global sourcing beyond domestic markets
• Developing global sourcing strategies
• Identifying and evaluating international suppliers
• Selecting appropriate supplier sourcing models
• Single-source versus multiple-source procurement strategies
• Supplier evaluation and selection criteria
• Managing exchange rate and currency risks
• Promoting ethics and compliance in international sourcing

Negotiation and Contract Preparation

• Understanding the international negotiation process
• Characteristics of successful procurement negotiators
• Preparing for supplier negotiations
• Advanced negotiation techniques and strategies
• Developing successful supplier partnerships
• Legal considerations in international purchasing
• Drafting and managing international procurement contracts
• International dispute resolution mechanisms

International Movement of Goods

• Understanding international commercial terms (Incoterms)
• Procuring transportation and logistics services
• Managing international air freight operations
• Managing international ocean freight operations
• Marine cargo insurance and risk management
• Calculating total landed cost
• Strategic international purchasing planning
• Reengineering purchasing operations for global competitiveness

For Whom:

• Buyers and Purchasing Officers
• Procurement Managers and Purchasing Managers
• Strategic Sourcing Professionals
• Materials Management Personnel
• Supply Chain and Logistics Professionals
• Import and Export Officers
• Contract and Vendor Management Professionals
• Professionals responsible for international supply chain and procurement operations