Strategic Procurement Management

Strategic procurement management

Strategic procurement management course is an classroom training that aims to equip you with the capacity to develop management and strategic skills in procurement in order to increase value for money.

START:
July 14, 2020
DURATION:
3 DAYS
ID:
JKM/PM/120
PRICE
150,000.00

Address

Plot 14 Odeniran Close,Off Opebi Link Bridge,Opebi,Ikeja,Lagos   View map

Strategic Procurement Management Course Overview

Strategic procurement management course is an classroom training that aims to equip you with the capacity to develop management and strategic skills in procurement in order to increase value for money.The strategic procurement management course is key for many projects, because procured goods and services form the highest percentages of expenditure and so it is important to achieve value for money through careful appraisal and management. The procurement strategy will promote a controlled and auditable response to external influences and ensure that the project, objectives are met. It will enable you to assess the meanings and outcomes of the stages in the development of an effective procurement strategy. It will develop your skills on how the process should be undertaken.

This interactive strategic procurement management training course leads delegates through the development and implementation of carefully crafted strategies for the acquisition of all goods, parts, equipment, and services. This is a critical issue for all organizations wishing to reduce operating cost while improving quality and productivity.

This strategic procurement training course explores key concepts of Strategic Cost/Price Analysis, Value Analysis and Total Cost of Ownership that will move today’s supply management organization to the strategic focus needed to achieve world-class performance. Organisations sticking to out-dated procedural and tactical approaches will be out competed by leading organisations utilising the latest approaches and techniques to ensure that their supplier base matches their ambitions.

This JK Michaels training course will feature:

  • Setting strategies for world class procurement
  • Maximising value for money
  • Options for International supply chain sourcing
  • Improving profitability by controlling total costs
  • Understanding and managing supplier pricing models

 

Strategic Procurement Management Learning Objectives

By the end of the programme participants will be able to:

  • Understand the principles of strategic procurement management
  • Understand the increasingly strategic role of procurement and its importance to the life of an organisation
  • Know where their organisation is now, and where it wants to be
  • Recognise the importance of the key processes underpinning strategic procurement management – category management, strategic sourcing, contract management and P2P (Purchase to Pay)
  • Understand the need for business alignment, and have the confidence to work cross-functionally with budget-holders, finance managers, legal staff, etc
  • Know how to choose suppliers in a fair and transparent way
  • Understand the contract management lifecycle and the importance of a good contract
  • Know how to manage contracts effectively using KPIs (Key Performance Indicators)
  • Recognise that suppliers can be some of the best assets of an organisation and know how to manage the supply base effectively
  • Understand the concept of value for money and the need to ensure value for money in everything bought
  • Measure procurement performance and apply techniques to ensure continuous improvement

Benefits Of Strategic Procurement Management To Individuals

  • Developing Procurement strategy to deliver Vision and Objectives
  • It enables a company to extract value by developing strategies around each category of spend. Such an analysis looks beyond dollar savings and into potential impacts across the entire supply chain including quality and service of goods and services purchased
  • Strategic procurement can help maximize the value derived from procurement by going beyond the traditional focus on lowest price.
  • It helps manage suppliers to ensure that their performance meets or exceeds contractual commitments. Internally, it means monitoring compliance within the organization to ensure that procurement benefits are fully realized.
  • Procurement Negotiations are better handled. Advanced techniques for Negotiations and aligning Negotiation Behavior with Established Supplier Relationships.
Benefits Of Strategic Procurement  To Organizations
  • Reduce the overall procurement costs
  • Increase Inventory returns
  • Identify obsolete inventory and eliminate stock outs
  • Identify standardization opportunities
  • Reduce your cost of inventory obsolescence
  • Become truly responsive to your customers’ real needs
  • Make your scheduling and shop loading more efficient
  • Narrow the gap between sales and stock replacement
  • Fine-tune your record-keeping accuracy for better inventory management
  • Determine your exact material status and inventory dollar burden

Introduction to Strategic Sourcing and Supply Management

Evolution, objectives and responsibilities of supply management

Trends and pressures affecting supply management

How to determine the right supply chain for your product

The P2P Process, Purchasing Organization, and Commodity Strategy Development

Best practices for the procure-to-pay process (P2P)

Role and structure of purchasing departments and where they fit in the organizational structure

7-step process to develop your commodity strategy

Supplier Evaluation and Selection and the Analytic Hierarchy Process

How to define important supplier characteristics and evaluation criteria

Strategies for evaluating your suppliers

Ways to improve your evaluation

Supplier Performance Management, Quality Management and Supply Base Integration

Strategies, tools and techniques for measuring and managing supplier performance

How to apply quality management concepts to manage supplier quality issues

Understanding of enterprise resource planning (ERP) systems

The value of quality buyer-supplier relationships and developing your suppliers

Global Sourcing and Outsourcing

How to analyze global trading partner data

The role of international purchasing offices (IPO)

When and how to enlist third party support

Global trends and research on outsourcing

Electronic Procurement and Strategic Cost Management

Objectives, benefits and challenges of e-procurement

E-procurement tools that yield the greatest benefits

Cost management across the entire supply chain

Value engineering, value analysis, cost analysis, and price analysis techniques

Negotiations, Law and Contract Management

Four principles for getting to yes

Effective negotiation tactics and methods

Laws of agency and buyer’s personal liability

Fundamentals of contract law and the Uniform Commercial Code (UCC)

Ethics and Green Procurement

How your firm can promote ethical behavior

Drivers of environmental sourcing and sustainability

Generally recognized environmental standards and certifications

Purchasing and Procurement Personnel

Contracts and Contract Administration

Projects personnel

All others who are involved in the planning, evaluation, preparation and management of purchasing and contracts that cover the acquisition of materials, parts, equipment, and services, and who are in organizations whose leadership want high levels of excellence in those involved in these activities

Training Options

ONLINE TRAINING

One year access to 29 hours of e-learning content
8 industry case studies
20 industry-based scenario
6 hands-on projects
7 simulation test papers (200 questions each
24×7 learner assistance and support

VIRTUAL TRAINING

  • Everything in Online training, plus
  • 90 days of flexible access to online classes
  • Learn in an instructor-led online training class
  • One to one mentorship for doubt resolution
  • Classes starting from:-
July 14-16th
Time:9am-3pm
Click to learn more of other available dates .

CORPORATE TRAINING

Customized learning delivery model (self-paced and/or instructor-led)

Flexible pricing options

Enterprise grade Learning Management System (LMS)

Enterprise dashboards for individuals and teams

24×7 learner assistance and support

Research

Engage

Commitment

Innovation

JK Michaels Institute

JK Michaels Institute is a forward thinking Project Management, consulting and training firm. Our solutions help clients improve performance, measurable growth in return on investment, manages change effectively and delivers excellent business result.

CONTACT

Email: mails@jkmichaelspm.com
Telephone: +234 01 293 3181,
+234 8033596025 Direct Line;+353 1 6877091
Address:Plot 14 Odeniran Close,Off Opebi Bridge,Opebi,Ikeja,Lagos Nigeria.
33,Meadow Drive,Clonsilla,Dublin 15,Ireland.

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