Course Details

Objective

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

• Understand the key principles and processes of effective procurement.
• Learn how to develop and implement procurement strategies that align with organizational goals.
• Gain skills in supplier selection, negotiation, and relationship management.
• Understand procurement risk management and cost control techniques.
• Learn best practices for ethical and sustainable procurement.
• Apply procurement performance metrics to improve procurement effectiveness.
• Master the process of contract management and vendor performance monitoring.

Content

Day 1: Introduction to Procurement and Best Practices

• Overview of procurement and its role in organizational success.
• Key principles of procurement: Cost, quality, and delivery.
• Understanding the procurement lifecycle: Sourcing, contracting, and delivery.
• The role of procurement in supply chain management.
• Aligning procurement practices with organizational strategy and goals.
• The importance of procurement policies and procedures in ensuring consistency and compliance.

Day 2: Supplier Selection and Relationship Management

• The process of selecting suppliers: Criteria, sourcing strategies, and tools.
• Evaluating supplier performance: Key performance indicators (KPIs) and metrics.
• Building strong, long-term supplier relationships.
• Negotiating effectively with suppliers: Techniques for cost reduction and value creation.
• Ethical sourcing and ensuring supplier compliance with standards and regulations.
• Managing supplier risks: Risk assessment and mitigation strategies.

Day 3: Procurement Planning and Risk Management

• Developing procurement strategies: Market research and demand forecasting.
• Best practices for procurement planning and forecasting.
• Managing procurement risks: Identifying, assessing, and mitigating potential risks.
• Ensuring supply chain resilience through diversification and contingency planning.
• Managing the complexities of global procurement.
• The role of technology in procurement risk management (e.g., e-procurement tools, data analytics).

Day 4: Cost Control, Contract Management, and Negotiation

• Cost control strategies in procurement: Total cost of ownership (TCO) vs. upfront cost.
• The procurement negotiation process: Tactics and strategies for successful outcomes.
• Developing effective contracts and agreements with suppliers.
• Contract lifecycle management: Performance monitoring and compliance.
• Best practices for managing contract disputes and claims.
• The importance of supplier audits and contract renewals.

Day 5: Sustainable Procurement and Performance Measurement

• The principles of sustainable and ethical procurement.
• Social, environmental, and economic considerations in procurement decisions.
• Green procurement and supporting corporate social responsibility (CSR) goals.
• Using procurement performance metrics to drive continuous improvement.
• Measuring procurement effectiveness: Cost savings, quality improvements, and supplier performance.
• Leveraging technology for procurement innovation and process automation.

NOTE:

Pre-& Post Tests will be conducted.

Case Studies, Group Exercises, Group Discussions, Last Day reviews, and assessments will be carried out.

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Methodology

A highly interactive combination of lectures and discussion sessions will be managed to maximize the amount and quality of information and knowledge transfer. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. You will also be encouraged to raise your own questions and to share in the development of the right answers using your own analysis and experiences.  Tests of multiple-choice type will be made available on daily basis to examine the effectiveness of delivering the course.

Very useful Course Materials will be given.

• 30% Lectures
• 30% Workshops and work presentation
• 20% Group Work& Practical Exercises
• 20% Videos& General Discussions