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SIM Professional Development

Procurement Fundamentals for Managers

Next dates

Jun 20—21
2 days
Singapore
SGD 1123 ≈USD 815
SGD 561 per day
Sep 23—24
2 days
Singapore
SGD 1123 ≈USD 815
SGD 561 per day

Description

Introduction

Effective procurement can contribute significantly to a company’s financial performance and success. This programme takes participants through the end-to-end process of procurement and provides a practical range of purchasing tools and techniques used in procurement.

Benefits to You

Business Outcomes

By having a solid understanding of the key elements of procurement, managers who are involved in procurement can improve the value achieved from supply markets and suppliers for the organisation.

Learning Outcomes

  • Understand the value strategic procurement can add to an organisation
  • Understand concepts of an effective procurement system
  • Apply a set of principles to most procurement activities

Programme Outline

  • Importance and role of procurement
  • How procurement impacts managers
  • Interaction between managers/stakeholders and the procurement function
  • Business needs and specifications
  • Analysing and approaches to supply markets
  • Evaluation techniques
  • Legal aspects of procurement
  • Managing price increases
  • Negotiating with suppliers
  • Managing suppliers and contracts

Who should attend

  • Level 3 - New Managers
  • Level 4 - Managers
Smeal College of Business

Strategic Procurement and Purchasing

Next dates

Jun 6—7
2 days
University Park, PA, United States
USD 2150
USD 1075 per day

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Description

Acquire a foundational understanding of managing and optimizing procurement and supplier management. You will learn basic principles of purchasing and develop strategies in supplier negotiations impacted by economic and regulatory issues.

Program Benefits

Improve your ability to:

  • Discuss the importance of purchasing in the supply chain—often the largest expense for a company (cost of goods sold)
  • Explain the dynamic environment of the purchasing industry including economic and regulatory issues
  • Decide what procurement strategies make sense for your company
  • Understand the basics of spend analysis
  • Discuss key issues in supplier negotiation that can be used in practice

Note: This program awards 1.5 CEUs. Penn State Continuing Education Units (CEUs) are available based on a standard of one unit per ten hours of classroom instruction.

Program Content

Trends in Procurement and Purchasing

  • Domestic
  • International

Key Purchasing Concepts

  • Spend analysis
  • Commodity segmentation
  • Supplier and industry research
  • Supplier evaluation (including financial analysis)
  • Request for information/proposal development
  • Supplier bid evaluation
  • Total cost of ownership analysis
  • Sustainability in the supply base
  • Supplier quality
  • Supplier management
  • Global/worldwide sourcing
  • Ethics in procurement

Value For You and Your Organization

Strategic Procurement and Purchasing provides practical information to better manage purchasing operations. You will learn techniques for lowering total procurement costs or maintaining current costs in an environment where material costs are on the rise.

Who should attend

This introductory program is for managers or directors who are new to purchasing, new to managing purchasing staff, or anyone looking to brush up on current purchasing issues and strategies. Past participant titles have included:

  • Procurement Operations Specialist
  • Director, Accounting Services
  • Manager, Contract Management
  • Strategic Influencers
  • Material Control Supervisor
  • Purchasing Manager
  • Strategic Sourcing Manager
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