MGMT19123 Contract Negotiation and Management

Purchasing is gaining increasing recognition as an area of business where there is considerable opportunity to make significant cost cavings. Unlike sales increases, which are diluted by a profit margin, savings made in purchasing go straight to the firm's bottom line in their entirety. Therefore, a rational, professional approach to this topic is a management issue. Furthermore, the traditional role of a purchasing officer as a direct buyer of goods and services, is expanding in both the public (Government) and private sector towards contract purchasing and out-sourcing. Frequently, management of these activities falls to the Purchasing Officer. The activities covered in this course begin in the middle of the procurement cycle, and assumes that contract definition, negotiation and award have already occurred. The course picks up from the award phase, and covers Negotiation and Contract Management in two discrete five week modules. The Purchasing Manager will develop the negotiating skills to interact with a contractor and the management skills to carry the contract forward through to completion.