The word procurement implies a simple transaction involving a buyer and seller. However, the process of acquiring goods and services tends to be complex and requires execution on several platforms.   In today’s world, managing goods and services entails coordinating an entire range of complex marketing activities, such as product selection and evaluation, technological testing, market analysis, trial sales, advertisement sales support, and so on.

Procurement management is the strategic administration of an organizations spend, which includes the purchasing of goods and services. It is the process responsible for overseeing and administering all the methods involved in acquiring materials, products, goods, and services needed for efficient operations.

This training course aims at helping procurement professionals to gain practical skills to enhance economy, efficiency, transparency and sustainability in the management of procurement operations of goods and services.

Target Participants

This course is ideal for procurement staff, project managers, supply chain managers, finance staff, operations staff, marketing staff, government officials and any other professionals who want to build their skills in procurement on goods and services management.

What You Will Learn

By the end of this course the participants will be able to:

• Understand the fundamentals of procurement, including key terminologies and concepts.
• Develop effective procurement strategies and plans for goods and services.
• Evaluate suppliers and vendors based on various criteria.
• Negotiate contracts and agreements that protect the interests of their organizations.
• Ensure compliance with legal and ethical standards in procurement practices.
• Implement best practices in procurement processes to optimize efficiency and reduce costs.
• Manage contracts throughout their lifecycle, including performance evaluation and risk management.

Course Duration

Online     7 Days

Classroom-based     5 Days

Course Outline 

Introduction to Procurement

• Definition and importance of procurement
• The role of procurement in an organization
• Procurement life cycle
• The difference between procurement and purchasing
• Key procurement terminologies
• Procurement ethics and governance

Procurement Management Fundamentals

• Introduction to Procurement Management
• What is Procurement Management?
• What is the Importance of Procurement?
• Benefits of Procurement Management
• How Does Procurement Management Work?
• Functions of Procurement Management
• Procurement Management Fundamentals

Developing the Strategic Procurement Decisions   

• Developing the strategic procurement plan
• Make / buy decision
• Vertical integration
• Alliances and partnerships
• Inter-company trade
• Reciprocity and countertrade
• Supplier strategy
• The coordination strategy
• The purchasing organization

Procurement in Supply Chain  

• Procurement as part of the supply chain
• Support operational requirements
• Manage the procurement process and the supply base
• Develop strong relationships with other functional groups

Needs Assessment and Planning

• Identifying and defining requirements
• Developing a procurement plan
• Market research
• Supplier qualification
• Sourcing and Supplier Selection
• Identifying potential suppliers
• Vendor evaluation and selection criteria
• Request for Proposals (RFPs) and Request for Quotations (RFQs)

Procurement of Goods and Services

Goods:

• Setting pre-qualification criteria
• Standard Bidding Documents preparation
• Bidding process
• Evaluation
• Contract Management
• Managing Variations
• Inspection, Acceptance and Warranty
• Case Study: Project Procurement Strategy for Development

Services:

• Types and nature of services, Employer’s requirements
• Process of selection for procurement of physical services
• Bidding documents preparation
• ToR and evaluation criteria
• Key performance indicators
• Bid evaluation criteria and contract award
• Effective contract management
• Quality assurance systems
• Social, labor and environmental clauses typically used in award procedures

Contract Negotiation and Management

• Contract management
• Key concepts in contract management
• Understanding contract management process
• Types of contracts
• Elements of a Good Contracting and Procurement Process

Operational Efficiencies

• How to deal with and overcome any discrepancies that might arise
• Maintaining good relationships with suppliers
• Effective reporting and analysis of the profitability of key products
• Partnership training and negotiation program
• Building effective relationships within your own organization
• Cost analysis and budgeting basics
• Building in contingency management and ensuring streamlined processes

Risk Management in Procurement

• Identifying and assessing procurement risks
• Risk mitigation strategies
• Crisis management in procurement

Best Practices in Procurement

• Inventory management and order optimization
• E-procurement and digital technologies
• Sustainable procurement practices

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, presentations, group works and case studies. Training notes and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide needs.

Course Booking

Please use the “book now” or “inquire” buttons on this page to either book your space or make further enquiries