Procurement Beyond Savings (HALF DAY, ONE DAY)
Procurement leaders are playing an increasingly important role in governing the purchasing of marketing-related services. Often an organization's largest indirect spend category, debates about cost versus value and marketing's intangible nature makes this one of the most complex spend areas to manage. The complexities of marketing services procurement creates a number of challenges but with global marketing spend often running into hundreds of millions, procurement can add real value to the bottom line by implementing new processes, systems, techniques and approaches to tackle this often unmeasured and fragmented area of spend.
The goal of this course is to provide participants with the fundamentals required to explore the efficiencies of agency management in order to create cost savings, higher return on investment and better value from their advertising expenditures. Participants taking this course have a variety of job responsibilities including: financial managers working with advertising/marketing; procurement/sourcing specialists; and members within general marketing and advertising management; all of them in the end are responsible for managing the procurement process as a strategic part of business operations.
Taking this course will help you gain a clear understanding of corporate and advertising procurement strategy development and the tools needed to develop and lead initiatives designed to increase marketing/advertising efficiencies, cost savings, return on investment and as well as the building of stronger partnerships with outside vendors. The challenge? Marketing Procurement is full of complexities: for example striking a balance between brand building and demonstrable ROI; creating a healthy working relationship between marketers, procurement, and agencies; finding a universally accepted definition of "value," "equity" and "success."
Despite these complexities, a handful of marketing procurement professionals have figured out how to navigate them, earning the respect of marketing business partners, agency personnel, CMOs, and CFOs alike. This course helps make you one of them.
Who is this course for?
Purchasing and supply professionals with operational responsibility for procurement as well as senior managers and budget-holders with accountability for implementing procurement. This workshop is also designed to equip people new to purchasing with the tools and techniques to ensure effective expenditure of company and organization budgets.
- How to strategically source Marketing investments
- The places to look for Marketing spend efficiencies
- Analytical frameworks and approaches used by strategy consulting firms to help identify, prioritize, and capture opportunities
- Alternative Marketing Procurement staffing and organizational deployment models
- Resources available for continuing education
- Defining the key objectives of purchasing and the opportunities it creates for adding real value.
- Types of specification, promoting and managing competition, interpreting supplier tenders and selecting the right contract terms.
- The basics of negotiation are reviewed together with real-life case studies.