Advanced Procurement and Managing Suppliers

2021 Course Information:

Venue:Duration:Date:Price:
Online 20 hours Flexi-date£2,500.00
In-House Agreed with client FlexiblePOA
London 10 days 05-Jul£5,250.00
London 10 days 06-Sep£5,250.00
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    LCT 2021 Brochure Download
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    LCT 2021 Brochure Download
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    Who should attend?

    • Purchasing executives, senior managers, and professional staff from supply chain management, logistics and inventory planning and control
    • General managers wanting to understand the procurement function
    • Those engaged in the management or operation of projects
    • Those responsible for developing, managing or working with budget/cost constraints
    • Those with an interest in strategic planning and costs management
    • Those who are involved in the planning, evaluation, preparation and management of purchasing, tenders, contracts that cover the acquisition of materials, equipment, and services

    Accreditations

    Outcomes

    • Plan and conduct a procurement activity
    • Select suppliers using appropriate evaluation methods and criteria
    • Measure supplier performance
    • Identify ways to increase procurement effectiveness and efficiency
    • Develop a strategy for sourcing that achieves tangible benefits
    • Review critical supply strategies
    • Implement strategic sourcing strategies to maximise total cost savings
    • Assess and prioritise opportunities for cost savings

    COURSE TOPICS:

    The Principles of Procurement

    • Definition of procurement vs purchasing activities
    • Defining the goals of procurement
    • The role of procurement
    • Supporting the business strategic objectives
    • Formulating the procurement strategy

    The Procurement Process

    • Key roles and responsibilities
    • Forming commodity teams
    • Planning the procurement activities
    • Development of the procurement policy
    • Developing the supplier selection process

    Compiling the Approved Supplier List

    • Determination of the most appropriate suppliers
    • Methods and techniques of inviting potential suppliers
    • Developing the supplier questionnaire
    • Supplier segmentation and grading Tier 1, 2 and 3 suppliers
    • Developing supplier performance metrics

    Supplier Relationship Management (SRM)

    • Introduction to the principles of SRM
    • The importance of the buyer/supplier relationship
    • Developing the SRM strategy
    • Collaboration and joint working
    • Motivating suppliers and continuous improvement

    Monitoring and Managing Supplier Contracts

    • Managing the contract and setting expectations
    • The importance of setting proper baselines
    • Conducting supplier appraisals based on performance measures and metrics
    • Dealing with underperforming suppliers
    • Dealing with breaches and disputes

    Definition and development of a sourcing strategy

    • Understanding the concept of strategic sourcing
    • Differences between sourcing and strategic sourcing
    • The seven stages of a competitive sourcing strategy
    • The value and benefits of strategic sourcing
    • Performing a strategic sourcing gap analysis

    The Strategic Sourcing Process

    • Working to the seven phases
    • Generate the supplier portfolio
    • Determine the implementation path
    • Selection of strategic suppliers
    • Integration of the strategic suppliers

    Strategic Cost Management

    • Principle of cost management in procurement
    • Whole life costing
    • Total cost of ownership
    • Target costing and analysing prices
    • Should cost analysis

    Identifying and managing risks

    • Determination of the risk involved in the global supply chain
    • Practical risk identification and assessment
    • Proactive risk management
    • Effective risk migration strategies
    • Dealing with challenging situations in the supply chain