Training on Procurement Best Practices
Procurement has evolved from a simple administrative function to a full-fledged strategic business unit. The primary role of a procurement manager has completely changed and now requires an entirely new set of abilities due to the modern advancements in purchasing, which include the ability to acquire raw materials, goods, and services from any location around the globe. This training on procurement best practices course will walk you through the most recent technology developments in procurement, giving participants a competitive edge.
Target Participants
Training on procurement best practices is ideal for procurement staff, project managers, finance staff, operational staff, government officials, and any other professionals who want to build their skills in procurement management.
Course Duration
Online 7 Days
Classroom-based 5 Days
What you will learn
By the end of this course the participants will be able to:
- Understand the evolving nature of procurement in detail and comprehend how the organization will benefit from this
- Recognize global trends and be able to implement them
- Work to increase efficiency within the procurement department by creating custom KPIs and processes based on best practice guidelines
- Develop an effective strategy for sourcing and building relationships with key suppliers and have a framework for how this should be done
Procurement as a Dynamic, Interactive System
- Definition of procurement
- The system approach vs. the traditional functional approach
- What is the goal of procurement?
- Developing the strategic procurement plan
- Overview of the procurement process
- Procurement as part of the supply chain
Developing the Strategic Procurement Decisions
- Make/buy decision
- Vertical integration
- Alliances and partnerships
- Inter-company trade
- Reciprocity and countertrade
- Supplier strategy
- The coordination strategy
- The purchasing organization
Implementing the Tactical Procurement Decisions
- Supplier Involvement
- Value analysis
- Quality assurance
- Supplier selection
- Supplier rating and ranking
- Contract management
- IT systems and e-procurement
- Policies and procedures
- Staffing the procurement department
Dealing with Operational Procurement Decisions
- Selecting the most appropriate ordering process
- Addressing quality issues
- Follow-up
- Overdue orders
- Expediting
- The payment process
- Reducing the cost of the procurement: small-value purchase orders
Contingency Procurement Decisions
- The different contingency situations
- Contingency management
Procurement Performance Measurement
- Spend analysis
- Total cost of ownership
- Supplier performance measurement
