Procurement and Managing Suppliers – Level 1

Course schedule

Classroom Training:
DateVenueDurationPrice
2 - 6 Sep 2024London5 days£4,250

Please note: prices shown above are exclusive of VAT (20%).

Course Overview

Learn the essentials of procurement and supplier management, including procurement planning, tendering processes, and supplier selection.

Who Should Attend

  • Purchasing executives and professional staff from supply chain management, logistics and inventory planning and control
  • General managers wanting to understand the procurement function
  • Project managers involved in plant and equipment development projects
  • Engineering planners working with complex maintenance material requirements
  • Quality managers seeking to understand how suppliers are selected

Course Outcomes

  • Set up and manage a procurement activity
  • Select suppliers using appropriate evaluation methods and criteria
  • Measure supplier performance
  • Identify ways to increase procurement effectiveness and efficiency
  • Work with user departments to improve procurement within the organisation
  • Manage supply-side risk using contractual methods
  • Manage suppliers against contractual requirements
  • Conduct supplier performance review meetings

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

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