Procurement and Managing Suppliers – Level 2
Course Information:
| Venue: | Duration: | Date: | Price: |
|---|---|---|---|
| Online | 12 hours | Flexi-date | £1,750.00 |
| In-House | Agreed with client | Flexible | POA |
| London | 5 days | 10-Jan | £3,500.00 |
| London | 5 days | 09-May | £3,500.00 |
| London | 5 days | 12-Sept | £3,500.00 |
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
- Set up and manage 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 the strategic sourcing strategy to maximise total cost savings
- Assess and prioritise opportunities for savings
COURSE TOPICS:
Overview of the Procurement Cycle
- The principles of procurement
- The procurement process
- Compiling the Approved Supplier List
- Supplier Relationship Management (SRM)
- Monitoring and Managing Supplier Contracts
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
