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Business Consultation

Negotiating, Implementing And Managing Successful Contracts: NIMSC™

Improving your Contractual Relationships And Delivering Successful Projects

Masterclass Summary

We offer two options for your convenience: a 2.5 day classroom event or an online course consisting of 6 sessions, each lasting 3 hours. Choose the option that suits you best and get ready to enhance your skills and knowledge! Supply Chain Management (SCM) is now a fact of life and presents a phenomenal opportunity to bring value to your organization. According to ISM (The Institute of Supply Management), the experts in Supply Management, has stated that every 1% that you reduce cost or achieve efficiency, this equates to 5% in additional sales. One of the key ways that the procurement and supply management professional can optimize this value is in the contracting process. In contrast to your contracts and supplier agreements merely addressing what either party can’t do (based on violating key laws), what if your contracts also addressed what both parties can do (such as mutual cost-reductions and value-added programs)? This NIMSC course explores the latest methodologies in contracting based on both academic research and actual practice in Fortune 100 firms which can both protect you legally, as well as add maximum value to your organization.
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This NIMSC™ masterclass is certified by the Missouri State University International Leadership and Training Center (ILTC) who provide customized, non-credit training and vocational programs for international students and professionals. NIMSC™ has been analyzed by Missouri State University ILTC and it had the proper content and quality to get the university’s quality seal, that means that you’re going to get a top of the line course. Delegates attending all modules and passing an online examination will receive their digital NIMSC™ certificate endorsed by the International Leadersip and Training Center of Missouri State University

Benefits of Attending

  • Develop a strategic negotiation plan which will set the pace for a successful contract

  • Host a supplier conference to clearly roll-out the solicitation/contracting program

  • Understand the various contract types and which one works best for your potential procurement

  • Move from simply boilerplate (reactive language) to proactive language with “teeth,” such as how to drive volume rebates and cost savings

  • Strategically perform contract administration duties to ensure that the supplier is continuing to provide value initially defined in the contract

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Learning Outcomes

  • Evaluate various contract frameworks extensively

  • Apply cost analytical techniques to your contracts

  • Enhance contract drafting, safeguard interests and avoid disputes

  • Communicate effectively with suppliers

  • Deliver a successful project

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Who should attend this NIMSC™ course?

Corporate Directors Directors, Heads and Managers, Officers & other Senior Executives from: 
•    Supply Chain 
•    Procurement 
•    Purchasing 
•    Sourcing 
•    Logistics 
•    Inventory Management 
•    Risk Management 
•    Contracts 
•    Warehousing 
•    Finance 
•    Sales & Marketing

Course Contents

Introduction to NIMSC

  • Program purpose, objectives & why these best practices were selected

  • Participant objectives

  • Icebreaker: what are the type five challenges that your firm faces in contracting?

 

Module 1: Negotiation as a Prelude to Effective Contracting

  • Overview of the negotiation process

  • Establishing key objectives

  • What is your power position? (Review the Porter Five Forces Model and the SWOTT  v analysis)

  • Achieving a Win-Win contract

 

Module 2:  Developing the Negotiation Plan

  • Understanding the key elements

  • Laying the preparatory groundwork

  • Developing strategies and tactics

  • Analyzing buying and selling positions

  • Incorporating the BAFO (Best and Final Offer) and BATNA (Best Alternative to a Negotiated Agreement)

  • Documenting the Negotiation

  • Group Exercise: The Ideal Contract - Based on a case study scenario, we will form key groups of buyers and sellers and they will be negotiating with/against each other to end up with the ideal contract (will it be win-win or win-lose or even, lose-lose?)

 

Learning Objectives • Establish a strategic negotiation plan from the role of the buyer of the seller. • Utilize key negotiation tactics. • Plan the outcome based on the ideal, moderate or minimum position. • Formalize agreement(s) in the contract

 

Module 3: Precursor to Successful Contracts – The Solicitation Process

  • The types of communication methods

  • The types of solicitations/bids

  • Understanding solicitation procedures/ concepts

  • Bonds and other types of surety

  • Complexities in the bidding process

  • Utilizing a supplier conference (prior to a major bid/contract program)

  • PRACTICAL EXERCISE: Review and develop the agenda for the Group Exercise Supplier Bidding/Contracting 

 

Learning Objectives • Determine the agenda points for the conference • Invite key members of senior management and supplier representatives • Establish the best forum to answer supplier questions • Understand the benefi ts of this event vs. one-off communications.

 

Module 4:  Contract Implementation – The Key Elements

  • Comparing the offer and acceptance

  • What constitutes a counter-offer

  • The difference between bi-lateral and uni-lateral agreements

  • The other key elements inc. consideration, competent parties and legal purpose

 

Module 5:  Contract Implementation – Types of Obligation Documents

  • The difference between the contract and the purchase order

  • The difference between written and oral agreements

  • What is a Letter of Intent?

  • What is a Trading Partner Agreement?

 

Module 6:  Contract Implementation – Contracts for Products

  • The key types of fixed-price contracts

  • Utilizing indexes to control price changes

  • Review of sample fixed-price contract language

  • PRACTICAL EXERCISE: Develop a price change clause for Products

 

Learning Objectives • Establish when a price contract is preferable over a cost contract. • Understand the validity and power of a price index. • Review key resources to find applicable indexes. • Select the appropriate index for the contract situation

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Module 7:  Contract Implementation – Contracts for Services

  • Understanding the SOW (Statement of Work) as a precursor to services procurement

  • The key types of cost-based contracts

  • Utilizing indexes to control price changes

  • Review of sample cost-based contract language

  • When to use a SLA – Service Level Agreement

  • Review of Leasing agreements

  • PRACTICAL EXERCISE: Develop a price change clause for Services
     

Learning Objectives • Establish when a cost contract is preferable over a price contract. • Understand the validity of power of cost index. • Review key resources to fi nd applicable indexes. • Select the appropriate index for the contract situation.

 

Module 8:  Contract Implementation – Understanding the Key Boilerplate Clauses

  • The key intellectual property clauses

  • The Indemnification clause

  • The Confidentiality clause

  • The key clauses addressing damages

  • The Reservation of Rights clause

  • The Force Majeure clause

  • The key clauses addressing claims and protesting

  • The clause addressing contract stoppage

  • Other key clauses as applicable

  • Case study: Ethics and Integrity in Contracting - You have been recently hired to be contracting officer at your government’s defense agency and immediately you see some contracting ethics and integrity issues that must be addressed. What will you do to be both professional as well as satisfy your management?

 

Learning Objectives • Identify the contracting ethics and integrity issues presented in the case. • Describe WHAT you would do and WHY you would do it. • Describe WHY it is important for members of the acquisition community to have a shared sense of professional integrity.

 

Module 9:  Contract Implementation – Putting “Teeth” in the Contract

  • Develop the teeth clause: Price Change

  • Develop the teeth clause: Volume Rebates Based On Business Growth

  • Develop the teeth clause: Mutual Cost Reduction Programs

 

Module 10:  Contract Management – The Role of the Successful Contract Administrator

  • Review of the five key objectives of contract administration

  • Understanding the concept of Work Control

  • Ensuring contract compliance

  • Key supplier management concepts

  • Conflict/dispute resolution

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Wrap Up

 

NIMSC™ Assessment and Certification

Only those who successfully complete the examination and participate effectively in the course case studies will receive the Missouri State University certificate  in Negotiating, Implementing and Manging Successful Contracts: NIMSC™

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