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Procurement Best Practices

Adding Value to the Strategic Process in Maximizing Performance

Procurement Best Practices

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PS191
09.Dec.2024 to 13.Dec.2024
London - Premier inn Victoria
Cost 4445 £ GBP

Introduction

Procurement has evolved from a simple administrative procedure to a full-fledged strategic business unit. It is no longer sufficient to simply convert requisitions into orders and then wait for the goods or services to be delivered. As a result, it is critical for Procurement to consistently deliver value to the organization by delivering products and services that contribute to the organization's well-being.

In order to do this, Best Practices have to be implemented on four levels:

  • Strategic

  • Tactical

  • Operational

  • Contingency

This Procurement Best Practices training course will address the necessary conditions at all four levels for those delegates who want to implement high-performing Procurement functions.

Course Objectives of Procurement Best Practices

Participants attending this training course will:

  • Comprehend the evolution of Procurement
  • Examine the inputs, outputs, and processes of the system
  • Design meaningful performance measurements
  • Learn the necessary conditions to be taken on all four levels

Course Methodology of Procurement Best Practices

Participants will expand competencies via various instructional techniques including a lecture by an experienced practitioner and consultant, exercises, review published articles, and group discussions covering current practices and their relationship to the implementation of new concepts.

Organizational Impact of Procurement Best Practices

The organization will benefit by:

  • The ability to deliver real value in a shorter time

  • Reduce the number of non-values adding activities

  • Improved relations between personnel, customers and suppliers

  • Reduction in total cost of ownership

  • Improved supplier performance

Personal Impact of Procurement Best Practices

Attendees will gain by participating in this training course as a result of:

  • Increased skill sets in all phases of strategic procurement

  • Greater ability to lead, plan, and manage the procurement process

  • A greater sense of professionalism and being able to contribute to the organization’s strategic objectives

  • Increased Knowledge about Key Performance Indicators

  • Increased recognition by the organization due to improved performance

Who Should Attend

  • Contracts, Purchasing, and Procurement Personnel

  • Project, Engineering, Operational, and Maintenance, Personnel who are involved in the planning, and execution of purchases and contracts

  • All involved in the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Course Outline

DAY 1

Seeing Procurement as a Dynamic, Interactive System

  • The System Approach vs. the Traditional Functional Approach

  • What is the goal of Procurement?

  • Developing the Strategic Procurement Plan

  • An Overview of the Procurement Process

  • Procurement as Part of the Supply Chain

DAY 2

Developing the Strategic Procurement Decisions

  • Make / Buy Decision

  • Vertical Integration

  • Alliances and Partnerships

  • Inter-company Trade

  • Reciprocity and Counter Trade

  • Supplier Strategy

  • The Coordination Strategy

  • The Purchasing Organization

DAY 3

Implementing the Tactical Procurement Decisions

  • Supplier Involvement

  • Value Analysis

  • Quality Assurance

  • Supplier Selection

  • Supplier Rating and Ranking

  • Contract Management

  • IT Systems and e-Procurement

  • Policies and Procedures

  • Staffing the Procurement Department

DAY 4

Dealing with Operational Procurement Decisions

  • Selecting the most Appropriate Ordering Process

  • Addressing Quality Issues

  • Follow-up

  • Overdue Orders

  • Expediting

  • The Payment Process

  • Reducing the Cost of Procurement: Small Value Purchase Orders

DAY 5

Contingency Procurement Decisions

  • The Different Contingency Situations

  • Contingency Management

Procurement Performance Measurement

  • Spend Analysis

  • Total Cost of Ownership

  • Supplier Performance Measurement

Associations

PS191
09.Dec.2024 to 13.Dec.2024
London - Premier inn Victoria
Cost 4445 £ GBP