Procurement best practice courses outline

Course overview
Procurement is a strategic function tasked with improving an organisation’s profitability. It does this by driving cost savings and adding business value, whilst typically being responsible for spending more than 60% of an organisation’s revenue. Research shows procurement can and does deliver, but only when procurement teams and professionals apply procurement best practice

After these courses, you will be able to apply the processes, skills and tools that are fundamental to the success of the world’s leading procurement organisations. You will be able to achieve double-digit cost savings and form constructive business partnerships with your stakeholders. You will learn how to develop business-driven procurement strategies. By becoming an advanced negotiator, you will be able to ensure your suppliers deliver the best value to your business.

Who Should Attend
These courses will greatly benefit you if you are a procurement professional:

With tough savings targets and/or high business demands
Looking to accelerate your development and career progression
Who is an experienced, senior practitioner wishing to update or refresh your procurement knowledge and skills and support your team in becoming more strategic and effective
The courses will also benefit other business functions who have procurement as part of their role or who often partner with procurement:

Sales professionals looking to understand the thought process of the procurement function
Professionals looking to learn from and network with other like-minded professionals
Courses outline

Course 1 Adding Value in procurement function

Procurement categories
5 rights of procurement
stakeholder management
Segmenting external expenditure
ABC analysis & Kraljic Matrix
Course 2 procurement cycle & infrastructure

procurement cycle review
procurement department structure
e-procurement and supply chain systems
procurement in different sectors
Course 3 understanding and developing specification

Definitions of specifications
Examples of specifications such as drawings, samples, branded and technical
Conformance & performance specifications
Typical sections of a specification
Course 4 understanding costs & budgets

Types of market data that can provide information on costs and prices
Direct and indirect costs
Producing estimated costs and budgets
Approaches to total costs of ownership/ total life cycle costing
The purpose of financial budgets
Cost entries and timings of cash flows
Performance and control of budgets
Dealing with variances to budget
Course 5 sourcing process

Strategic and tactical sourcing
The sourcing process
Selection and contract award criteria
Gathering and verifying supplier information
Vendor performance management (KPIs)
Supply and Supplier preferencing Model
Supplier appraisal and selection models
Assessment of suppliers’ proposals
Course 6 Financial Appraisal of Suppliers

Why appraise suppliers’ financial position
Sources of financial information on suppliers
The balance sheet
The profit and loss account
Cash flow statements
Ratio Analysis
Course 7 Surveying the Supply Market

Purchase research & Demand analysis
Supply market analysis
Inquiries, quotations & tenders process
Recommending sources of supply
International and global sourcing
The use of incoterms & Payment mechanism
Opportunities in international sourcing
Risks in international sourcing
Managing currency and exchange rate risk
Course 8 Negotiation

Understand the main approaches in the negotiation of commercial agreements with external organisations
Understand how to prepare for negotiations with external organisations
Understand how commercial negotiations should be undertaken
Course 9 Contracting in procurement and supply

Developing commercial agreements
Contract terms & contract schedules
Standard and model form contracts
Legal Issues in Creating Commercial Agreements
Understanding legal aspects of contracts
Elements of a legally binding agreement
Invalid and incomplete agreement
Contractual agreements for supply
Course 10 Managing Contracts

Types of contracts (One-off purchases, Blanket,etc.)
The contract management process
Remedies for breach of contract
Limitation of liability
Termination of contract
Contractual disputes
Responsibilities of the contract manager
Contract administration & performance data

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