Advanced Procurement, Supplies Management, and International Procurement Course

Why Attend

Participants will be exposed to the best practice methods in purchasing, Supplies and Stores and Management, International procurement, Stock Accounts, fraud managements, stock taking/ documentation will be exhaustively discussed. Your staff member needs to benefit from this very important workshop.

Delegates will:

• Gain a systematic process for working and performing the Procurement function in your organization. With this training you’ll gain confidence in your job.
• Learn how to coordinate multiple supply chains operating in parallel.
• Gain a system/framework to effectively evaluate tenders & bids
• Learn Procurement best practices and processes.
• Supplier selection & Management: How to reach optimum balance between material cost price and quality
• How to ensure your suppliers don’t let you down and how to manage your supplier risks
• How to find the right suppliers
• How to manage contracts from beginning to end while minimizing problems

Other Contents:

Fundamentals Of Supplies and Store Management

• Understanding the meaning of stock i.e. raw materials, work-in-progress and finished goods.
• Identifying and justifying the need for stock.
• Store’s locations and management i.e. Central stores, Autonomous stores and semi- autonomous stores, advantages, disadvantages, stores layout, cleanliness etc.
• Modern store keeping methods
• Stock requisitioning procedures.
• The approval process.

Purchasing And Supplies Administration

• Placing orders
• Screening suppliers for efficient performance i.e. performance bonds and implementation of terms
• The tendering process.
• Issuing purchase orders: the do’s and don’ts
• Reviewing goods into stores- matching of LPOs, invoice, waybills, receipt vouchers, quality control, certificates etc.

Managing Stock Supplies Levels

• Identifying the cost of carrying too little or too much stock
• Maximum stock, minimum stock, reorders level; reorder quantity, economic order quality, etc.
• Documenting consumption patterns i.e. maximum consumption, minimum consumption, normal consumption, abnormal consumption, lead-time etc.
• The ‘Just-in-time’ concept
• Managing wastages: normal and abnormal wastages
• Stock insurance and security

Stock Fraud Management

• Types and causes of stock fraud
• Fraudulent shortage and supplies
• Internal control issues
• Fraud-free management of reformed and used spares
• Falsification of stores and supplies documents
• The internal audit function.
• Emerging trends and future challenges
• Identification and management of fast, slow moving, and obsolete stock

International Procurement

• Identifying and exploring the international market
• International procurement” scope, planning and implications.
• Understanding Nigerian Foreign exchange market including recent developments
• Shipping term and other uses including marine insurance.
• Development in freight forwarding business in Nigeria including port reforms by the Federal Government
• Finance of International trade; bills for collection, letter of credit, bank guarantees and other payment modes i.e. open account, sight payment, nonrecourse finance, factoring and forfeiting etc
• Fraud control in international procurement business.

Stock Valuation and Accounting Methods

• Treatment in bin cards, stock ledgers, control accounts trial balance and final accounts
• Requirements of International Accounting Standard No. 2
• Computerized stock accounting
• Internal control implications including stock frauds prevention and management.
• Issuing stock; Methods, Authorization and Documentation
• FIFO, LIFO, NIFO, HIFO, simple average, periodic average, with the average, specific identification, standard cost, adjusted selling price etc.
• The concept of cost, net realization value and apprised value

Public Sector Peculiarise

• The provision of the public sector financial regulations
• The provision for the public services rules
• The implication of several government circulars.