Strategic Procurement Management

Introduction

This 2 days Training program covers the skills required to lead procurement and inventory teams to world class performance by running organizations leaner, effectively and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. 

Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital.

In an Environment characterized by many unknowns, procurement professionals must assist general management by providing purchasing expertise for strategic decisions as it plays an important role in the profitability and success of the business. 

The Objective of this program is to highlight to procurement/purchasing personnel the various methods and techniques to achieve savings. Participants will be exposed to the basic principles of purchasing, sourcing and evaluation of vendors, quality control and negotiate better to achieve cost savings.  Understanding the impact of Inventories on purchasing decisions. 

This program will help you secure greater value, performance, effectiveness, innovation and security of supply as well as reduced supply chain risk. It will enable you to identify those suppliers who are important and why, and equip those who attend with the tools and approaches to determine and effect the right interventions with the right suppliers. It also includes how to drive Sustainable Procurement for important and strategic supplier relationships.

Outcome

At the end of this program, participants will be able to:

- Obtain a broad understanding of Integrated Supply Chain Management
- Understand the major drivers of supply chain performance and SCOR
- Develop the understanding of the importance of the Procurement function and how it impacts the business as a whole
- Take decisions effectively as to how much quantity to order, when to order and why only that quantity to order
- Understand Procurement and Sourcing Strategy
- Design Selection and Evaluation process of supplier base
- Obtain knowledge and understanding regarding ratings, metrics and methods to evaluate supplier performance
- Understand Procurement Policies, Procedures & Ethics
- Understand Contract Management & Challenges in Procurement
- Understand the importance of inventory & its impact on the profitability
- Apply best methods to optimize the investment in inventory
- Techniques to increase productivity and achieve savings through effective purchasing & Cost reduction techniques
- Understand the KPIs to drive Operations Excellence
- Risk Management & Building a Resilient Supply Chain
- Implications and Learnings from COVID 19

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No Topic Topic Description
1 Understanding Total Supply Chain Management
  • Introduction to Total Supply Chain Management
  • Discuss the Goal of a Supply chain and explain the impact of supply chain decisions 
  • Identify the three Key Supply chain decision phases and explain the significance 
  • Supply Chain Operations Reference Models (SCOR)
  • Key Supply Chain Drivers and Metrics
2 Overview of Procurement function
  • Procurement Vs. Purchasing - Is There a Difference?
  • Objectives & Roles of Purchasing
  • Principles of Purchasing Management – 7 Rs
  • Determining Procurement and Sourcing Strategy
  • Design of Purchasing Organization
  • Understanding E-Procurement
3 Supplier Selection and Evaluation
  • To identify appropriate Supplier selection techniques.
  • Single sourcing & Multi-Sourcing
  • Make/Buy Decision
  • Vertical Integration
  • How to carry out Supplier Consolidation
  • Strategic Supplier relationship management.
  • Understand how Supplier Evaluation/Performance is accomplished
4 Procurement Policies, Procedures & Ethics
  • Policy Overview
  • Policies provide Guidance, Direction, Compliance & Ethics
  • Understanding Reciprocity and Countertrade
  • Environmental Issues
  • Steps to achieve Policy Objectives
5 Materials & Inventory Management
  • To identify the Activities of Materials management.
  • Concept of Economic Order Quantity (EOQ)
  • Manufacturing Operational efficiencies
  • Identify the Five functions of inventory.
  • Requirements for Effective inventory management.
  • To learn about ABC analysis.
  • Inventory Performance Measures/KPIs
  • Best Practices in Inventory Management
6 Procurement Cost Management
  • Potential Procurement Savings
  • Understanding Total Cost of Ownership
  • Conducting Spend Analysis
  • Uncovering Profit opportunities in Purchasing functions
  • Areas to look for in Procurement Cost Management and Improvement
7 Contract Management & Challenges in Procurement
  • What is Procurement Contract Management?
  • Understanding The Procurement Contract Management Process
  • Objectives of Contract Management in Procurement
  • Performance Reporting and Monitoring – Procurement KPIs
8 Course Summary – Developing your Action Plan
  • Program Recap of Strategic Procurement Management
  • Formulate your Procurement Opportunities in your organization
  • Critical Initiatives and Key Action areas

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