You’re the first to know…our new course “Basics of Smart International Procurement” is now open for enrollment!
I’m really excited about this new course. To buy interenationally takes a lot of preparation and requires you to understand many things that you don’t need to consider when sourcing domestically. This course covers dozens of concepts you need to learn before even beginning to communicate with international suppliers.
Here’s just a sampling of what you will learn:
- How to assess the cultural differences that you may experience with suppliers from different parts of the world
- 7 key characteristics of cultural differences that you need to know to avoid any unpleasant surprises from your suppliers
- How to determine whether international suppliers might be withholding bad news from you
- How international suppliers differ in the importance they place on personal relationships
- How the importance of contracts will differ among international suppliers
- When you might face one of the worst shocks – an international supplier’s request to renegotiate a contract
- 5 critical clauses that should be included in every international procurement contract
- 6 principles for writing contract language that is clear and ideally suited for international procurement situations
- Tips for reducing intellectual property risks
- How to handle communication when you and your supplier have different native languages
- Little known facts for reducing communication misunderstandings with foreign suppliers, including the use of jokes, hand gestures, and written communications
- How exchange rates get factored into international procurement transactions
- How to calculate currency conversions
- Currency risks associated with international procurement transactions
- How hedging tools like forward contracts and options are used to protect buying organizations from cost increases
- 3 ways that products are services are priced and a currency strategy for each
- The increased significance of accurate forecasts in international transactions and how poor forecasts impact cost
- A risk sharing formula that truly distributes risk equally between a buyer and a foreign supplier
You can enroll in Basics of Smart International Procurement on our Web site’s Sign Up page.
And if you have any questions about the class, please call us at 1-412-294-1990 or email us at firstname.lastname@example.org.
Official press releases and mailings will be coming out shortly. But I wanted you to know first!
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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