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Procurement and Supply Chain Management Best Practices

Introduction

In today’s competitive market, crafting and implementing effective strategies for the procurement of materials, goods, equipment, and services is crucial for organizations aiming to minimize costs while enhancing quality and productivity. This training course on Procurement and Supply Chain Management Best Practices delves into foundational concepts and addresses contemporary challenges faced by organizations.


Course Objectives

  • Understand the concept of strategic procurement.
  • Explore best practices in procurement and supply chain management.
  • Learn methods to achieve optimal pricing.
  • Gain skills in spend analysis.
  • Acquire both functional and cross-functional perspectives on supply chains.
  • Recognize the advantages of collaboration within the supply chain.
  • Evaluate important Key Performance Indicators (KPIs).


Target Audience

  • Individuals in Contracts, Purchasing, and Procurement roles.
  • Personnel from Project, Engineering, Operations, and Maintenance involved in procurement and contracts.
  • Professionals in Supply, Buying, Purchasing, Logistics, Materials, and Supply Chain Management.
  • Those seeking to improve their proficiency in Logistics and Supply Chain Management.
  • Anyone interested in achieving business benefits through effective supply chain management.


Course Outlines

Day 1: Envisioning Procurement as a Dynamic, Interactive System

  • Comparison of System and Traditional Functional Approaches
  • Goals of Strategic Procurement
  • Crafting the Strategic Procurement Plan
  • Overview of the Procurement Lifecycle
  • Integrating Procurement within the Supply Chain


Day 2: Strategizing Procurement Decisions

  • Decision-Making on Procurement vs. In-house Production
  • Evaluating Vertical Integration
  • Forming Alliances and Partnerships
  • Managing Inter-company Trade
  • Exploring Reciprocity and Counter Trade
  • Developing Supplier Strategies
  • Coordinating Purchasing Functions


Day 3: Tactical Approaches to Procurement

  • Involving Suppliers Early
  • Conducting Value Analysis
  • Implementing Quality Assurance Measures
  • Criteria for Supplier Selection
  • Methods for Supplier Evaluation
  • Managing Contracts
  • Utilizing IT and e-Procurement Solutions
  • Developing Procurement Policies and Staffing


Day 4: Operational Procurement Decisions

  • Choosing Efficient Ordering Processes
  • Handling Quality Concerns
  • Managing Follow-ups and Overdue Orders
  • Strategies for Expediting
  • Streamlining the Payment Process
  • Optimizing Low-Value Purchasing


Day 5: Procurement under Contingency Conditions

  • Managing Different Contingency Scenarios
  • Monitoring Procurement Performance
  • Analyzing Expenditures
  • Assessing Total Cost of Ownership
  • Evaluating Supplier Performance


Day 6: Insights into Logistics and Supply Chain Dynamics

  • Definitions and Evolution of Logistics and Supply Chain Management
  • Dynamics of Supply Chains
  • Global and International Logistics Perspectives
  • Supply Chain Operations Reference Models (SCOR)
  • Applying the Theory of Constraints (TOC)


Day 7: Economics of Transportation in Logistics

  • The Strategic Role of Transportation
  • Key Decisions in Transportation Management
  • Choosing Transportation Modes and Systems
  • Understanding International Commercial Terms
  • Managing Transportation Documentation and Hazardous Materials


Day 8: Managing Risks and Performance in Supply Chains

  • Key Performance Indicators (KPI)
  • The Function of Warehouses in Supply Chains
  • Managing Supply Chain Flows and Equipment
  • Identifying Risks in Supply Chains, including Operational, Inventory, Currency, Financial, Disruption, and Security Concerns


Day 9: Advanced Procurement Processes

  • Differentiating Procurement from Purchasing
  • Operational Support and Management of Procurement Processes
  • Cultivating Strong Interdepartmental Relationships
  • Defining Team Roles in Procurement Processes


Day 10: Mastering Inventory Management

  • Statistical Methods in Inventory Management
  • Financial Aspects of Inventory Management
  • Implementing Selective Inventory Control
  • Understanding and Managing Inventory Levels
  • Strategies for Reducing Surplus and Obsolete Inventory
  • Enhancing the Organization’s Logistics and Supply Chain Efficacy