International Contract Management

About the Course

The complexity of international contracts and global sourcing has significantly increased, necessitating a deeper understanding of the underlying principles and practices. Organisations are expanding their operations beyond borders to tap into new markets, optimise supply chains, and leverage cost efficiencies. This expansion introduces various challenges and opportunities, making effective contract management and strategic sourcing crucial for maintaining competitive advantage and ensuring operational success.

Successful international contract management requires a thorough grasp of various facets of global sourcing, from negotiating terms to managing supplier relationships and controlling landed costs. As businesses seek to navigate the intricacies of international trade, it becomes imperative for professionals to develop expertise in creating and managing contracts that align with global standards and regulations. This expertise mitigates risks and enhances the ability to capitalize on new market opportunities and drive business growth.

This 5-day comprehensive International Contract Management training course will equip delegates with essential skills and knowledge to manage international contracts effectively and develop robust global sourcing strategies. Focusing on practical approaches and current best practices aims to enhance delegates' ability to handle complex contractual arrangements and optimise sourcing processes. Through theoretical insights and hands-on applications, they will gain the competence needed to navigate the global marketplace successfully and contribute to their organisation's strategic objectives.

Core Objectives

The delegates will achieve the following objectives:

• Analyse the complexities and benefits of global sourcing to identify key factors influencing international contract management
• Evaluate different global sourcing tactics and approaches to determine their effectiveness in various business contexts
• Calculate and manage landed costs to ensure accurate financial assessments and strategic decision-making
• Apply international terms and conditions to draft comprehensive contracts that comply with global standards
• Develop negotiation strategies to handle international contract discussions and resolve disputes effectively
• Assess the impact of cultural differences on international negotiations and adjust strategies to improve outcomes
• Create effective dispute resolution mechanisms to address and resolve conflicts in international contracts efficiently

Training Approach

This training course combines interactive lectures with hands-on exercises to ensure a practical understanding of international contract management principles. Delegates will engage in role-playing scenarios and group discussions to apply theoretical concepts to real-world situations. Additionally, it incorporates case studies and simulations to enhance problem-solving skills and strategic decision-making in global sourcing and contract management.

The Attendees

This training course is designed for professionals managing international contracts and global sourcing activities. It will provide an in-depth understanding of contract terms, sourcing strategies, and dispute resolution, enhancing their ability to navigate and optimise global business transactions.

But, it will be suitable to the professionals but not limited to the following:

• Contract Managers
• Procurement Specialists
• Supply Chain Managers
• Legal Advisors
• Financial Analysts
• Business Development Managers
• Operations Managers
• Compliance Officers
• International Trade Specialists
• Risk Managers

Daily Discussion

DAY ONE: WHY GLOBAL SOURCING MATTERS IN TODAY’S MARKET

• Understanding the Importance of Global Sourcing
• Benefits and Challenges of Sourcing Internationally
• Strategic Objectives for Global Sourcing
• Assessing Global Market Opportunities
• Risk Assessment in Global Sourcing
• Global Sourcing vs Domestic Sourcing
• Global Sourcing Strategies

DAY TWO: GLOBAL SOURCING TACTICS AND APPROACHES

• Types of Global Sourcing Models
• Strategic Sourcing vs Tactical Sourcing
• Supplier Selection and Evaluation
• Developing Global Sourcing Strategies
• Managing Supplier Relationships
• Compliance and Regulatory Issues in Global Sourcing
• Best Practices for Global Sourcing Execution

DAY THREE: EFFECTIVE LANDED COST MANAGEMENT AND STRATEGIES

• Components of Landed Cost
• Calculating Transportation and Logistics Costs
• Customs Duties and Import Taxes
• Currency Exchange and Financial Implications
• Insurance and Risk Management
• Cost Allocation and Control
• Analysing and Optimising Landed Cost

DAY FOUR: INTERNATIONAL TERMS & CONDITIONS

• Key International Contract Terms and Clauses
• Understanding Incoterms® and Their Applications
• Legal Frameworks and Governing Laws
• Risk Allocation and Liability
• Performance Guarantees and Warranties
• Termination and Exit Clauses
• Compliance with International Trade Regulations

DAY FIVE: NEGOTIATION STRATEGIES AND DISPUTE RESOLUTION IN A GLOBAL CONTEXT

• Negotiation Strategies for International Contracts
• Cultural Considerations in Global Negotiations
• Effective Communication and Persuasion Techniques
• Resolving Disputes and Conflict Management
• Mediation and Arbitration Processes
• Drafting Effective Dispute Resolution Clauses
• Building Long-term Relationships with International Partners