Training on Procurement Best Practices

About the Course

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 course will walk you through the most recent technology developments in procurement, giving participants a competitive edge.

Target Participants

This course 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

Course Outline

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

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, theory, group work, and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations, and tailor-made needs.