Mastering Procurement: Advanced Strategies in Contracts and Negotiation

This Management Development Program on Procurement Contracts and Negotiation is designed to provide participants with a deep understanding of procurement contract types and advanced negotiation strategies. Covering essential aspects of supply contracts, strategic components, and cutting-edge negotiation techniques, including AI and automated systems, the program equips participants with the skills needed to drive value and efficiency in their organizations. Through interactive lectures, case studies, role-playing exercises, and technology demonstrations, participants will gain actionable insights and strategies for effective contract management and negotiation.

Participants will benefit from enhanced contract management skills, improved negotiation techniques, and strategic decision-making capabilities. They will build confidence in handling complex negotiations and stay ahead of industry trends with knowledge of the latest technologies. Additionally, the program offers opportunities to apply practical skills through real-world scenarios and expand professional networks by connecting with peers and industry experts. This comprehensive learning experience empowers participants to achieve superior procurement and negotiation outcomes, enhancing their professional value and career prospects.

Pedagogy : 

The program will utilize a blend of teaching methodologies, including:

  • Interactive lectures and discussions.
  • Case studies and real-world examples to illustrate key concepts.
  • Role-playing exercises to practice negotiation tactics and strategies.
  • Group activities and workshops to foster collaboration and experiential learning.
  • Technology demonstrations to showcase AI-enabled and automated negotiation tools.

Prof. Rofin T M (Program Chair) 

Prof. Upasna A Agarwal (Program Co-Chair)

                                                                                                                        

 

 

Upon Successful completion of the program, participants

  • To develop a comprehensive understanding of various procurement contract types and their strategic applications.
  • To enhance negotiation skills, with a focus on both foundational techniques and advanced strategies.
  • To explore the science and art of negotiation, including behavioral aspects and the role of social capital.
  • To introduce state-of-the-art negotiation technologies and their implications for procurement.

Session Plan: 

 

Day 1 – Supply Contracts

Contracts for Strategic Components (1.5 Hrs)

  • Buy-back contracts
  • Revenue Sharing Contracts
  • Quantity Flexibility Contracts

Contracts for Make-to-Stock/Make-to-Order Supply Chains (1.5 Hrs)

  • Pay back contracts
  • Cost-sharing contracts

Contracts with Asymmetric Information (1.5 Hrs)

  • Capacity Reservation Contracts
  • Advance Purchase Contracts

Contracts for Non-Strategic Components (1.5 Hrs)

  • Long-Term Contracts
  • Flexible, or Option, Contract
  • Spot Purchase
  • Portfolio Contract

 

Day 2 – Negotiation

Basics of Negotiation (3 Hours)

  • Types of Negotiation
  • Procurement Negotiation Framework
  • Negotiation Planning, Anchoring, Overconfidence, and Framing
  • Concessions
  • Negotiation Tactics: Trying to reach Agreement
  • Win-Win Negotiation

The Science of Negotiation (3 Hours)

  • ZOPA and BATNA
  • Negotiation under Uncertainty
  • Game Theory and Negotiation

 

Day 3 - Negotiation

The Art of Negotiation (3 Hours)

  • Power in Negotiation
  • Understanding Negotiation Styles
  • Building trust
  • Negotiation Tactics
  • Behaviours and Traits of successful Negotiators
  • Role of networks and social capital

The State-of-the-art of Procurement Contracts and Negotiation (3 Hours)

  • AI-enabled Negotiation
  • Automated Negotiation
  • Negotiation among Software Agents
  • Smart Contracts

This program is ideal for:

  • Procurement professionals seeking to enhance their contract management and negotiation skills.
  • Supply chain managers and executives responsible for strategic sourcing decisions.
  • Business leaders and decision-makers looking to leverage advanced negotiation techniques and technologies.
  • Individuals interested in developing a deeper understanding of procurement and negotiation dynamics in modern supply chains.

  1. Registration fees include the following:

    For all the participants:

    • Classroom sessions
    • Reading material
    • Registration kit
    • Internet and Library access
    • Hard Copy Certificate for Course Completion at the end of the programme

    Residential participants:

    • Single occupancy AC rooms in the MDP hostel
      Check-in and check-out time: The earliest check-in time 3.00 pm (one day before program commencement
      The latest checkout time is 10.00 am (one day after program completion)
    • Tea, breakfast, Lunch, dinner in working hrs.

    Non Residential participants:

    • Breakfast, Working Lunch, tea & snacks

  2. Refund policy

    Fees once paid can be adjusted for 1 financial year against future nominations only. In case a course is canceled on account of inadequate participation or any other unforeseeable reasons, the participants will be informed of the cancellation by e-mail or Fax and the fee will be refunded. IIM Mumbai will not be liable for any other expenses incurred by the company or the participant. Any transaction fee will not be refunded.

  3. Individual Registration

    If you wish to register & make payment, please click here Register

  4. Company-sponsored / Bulk Registration:

    • In the case of company-sponsored candidates, please share the nomination list and GST details to program@iimmumbai.ac.in for invoice generation.

      Download the INVOICE DETAILS FORM

    • Note: Discount is applicable for 5 or more participants from same organization against invoice.

Course Details

Mode Offline / IIM Mumbai
Duration 3 Days
Programme Dates Aug 28, 2024 to Aug 30, 2024
Program Chair Prof.Rofin T.
Program Co-Chair Prof. Upasna A Agarwal

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