Developing a Procurement Strategy

ICTD International Centre for Training and Development

ICTD International Centre for Training and Development

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Who should attend

Purchasing and supply chain professionals at all levels of the organization involved in planning, sourcing, buying and bid selection activities, as well as personnel who are involved in the purchasing process.

About the course

It is time for Procurement to move from the low value, transaction, and administrative focus to being the high value strategically focused organization that adds competitive advantage to the organization. Bringing competitive advantage means applying the best practices implemented by world-class procurement operations. The best procurement practices covered in this highly motivating seminar provide significant tactical and strategic value to the organization and strong recognition to the procurement function and those in it.

Course Objectives

Participants attending the program will:

  • Review the meaning of strategic procurement
  • See the procurement job descriptions of the future
  • Discuss integration methods
  • Be given examples of best practices in procurement
  • Study supply risk mitigation from the strategic perspective
  • Review how to obtain best pricing
  • Understand methods of focusing on the more important areas of procurement
  • Learn how to improve the image of purchasing operations
  • Be taught how to develop spend analysis
  • Best practice in dealing with suppliers
  • Consider Key Performance Indicators (KPI) for Procurement

Course Outline

Day 1

Overview of Procurement

  • The Terminologies
  • The major virus of Procurement
  • Strategic fundamentals of a buyer
  • Critical issues for consideration in developing procurement strategy
  • Types of Procurement Methods
  • Centralised Procurement
  • Decentralised Procurement
  • Whole Life Procurement (TCO)
  • The Procurement Management Procedure
  • Project Appraisal and Analysis
  • Sourcing
  • Tendering and Bidding

Day 2

Procurement Cycle

  • Implementing procurement management plan
  • Requirement to purchase
  • Plan the process
  • Prepare the documentation
  • Identify possible suppliers
  • Issue/Receive back the tender/quotation documentation
  • Evaluate the submissions
  • Negotiation - High value Negotiation planning
  • Award and place the contract
  • Delivery
  • Payment
  • Manage and monitor the contract
  • Review the process
  • Procurement Business Process Management
  • Procurement Management Planning
  • Strategic Alignment for the Procurement Manager

Day 3

Financial Skills for Procurement Executives

  • Capital Investment Appraisal
  • Budget forecasting
  • Budget development structuring
  • Procurement Master Budgeting
  • Procurement Financial Performance management
  • Final Investment Decision
  • Procurement Risk Management
  • Guidelines for procurement audit manual
  • Procurement Risk Auditing
  • Procurement Risk Prioritisation and Categorisation
  • Contracts Management Skills for the Buyer
  • Types of contracts and implementation techniques
  • Contract strategies and techniques
  • Using the difference in real life situations.
  • Effective Negotiation in procurement
  • Procurement Performance Management
  • Supplier Development Programming
  • Vendor Administration
  • Strategic Supplier workshop development
  • International Sourcing and E-Procurement
  • Procurement Management technological development
  • Introduction to Electronic Procurements
  • Supplier Management Integration System
  • Oracle Enterprise Resource Planners v. Procurement

Day 4

Procurement Stakeholders Management

  • Stakeholders Analysis
  • Stakeholders Planning
  • Stakeholders prioritisation techniques
  • The Role of the Buyer in the Supply Chain
  • What exactly is the Supply Chain Management?
  • How the Supply Chain works
  • The logistics of procurement in the Chain
  • The buyer’s influence on the Supply Chain
  • Common mistakes in Procurement Management and solutions
  • Legal Issues
  • Terms-of-reference for contract of service
  • Effective Contract Management

Day 5

Key Performance Indicators

  • Optimize existing Procurement Models
  • Costing models - the Total Cost of Ownership
  • Contracting with reduced supplier base
  • Financial Skills for Procurement Executives
  • Formulas For Winning Highly Competitive Bids
  • Project Management & Procurement Analysis

Course Methodology

A variety of methodologies will be used during the course that includes:

  • (30%) Based on Case Studies
  • (30%) Techniques
  • (30%) Role Play
  • (10%) Concepts
  • Pre-test and Post-test
  • Variety of Learning Methods
  • Lectures
  • Case Studies and Self Questionaires
  • Group Work
  • Discussion
  • Presentation

Videos and materials

Developing a Procurement Strategy at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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