Mini MBA for Procurement Professionals
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Mini MBA for Procurement Professionals Course
Introduction:
In order to enhance supplier performance, it is essential to establish a robust system for measuring and managing it effectively. This comprehensive and interactive course is specifically designed to provide the necessary insights and tools to optimize supplier performance and drive continuous improvement within your organization.
In today's era of globalization and digitalization, organizations often engage with suppliers located across the world, relying heavily on technology for communication. This can introduce complexities in managing supplier relationships and ensuring consistent performance. To navigate these challenges, it becomes crucial to have a structured approach for measuring and monitoring supplier performance against contractual requirements.
This course delves into the intricacies of supplier performance management, equipping participants with the knowledge and skills needed to maximize the value derived from supplier relationships. Through practical and interactive sessions, attendees will learn best practices for measuring, evaluating, and managing supplier performance over time.
The course acknowledges that the complexity of supply chains can vary significantly, and the need for performance measurement becomes more pronounced as the supply chain becomes more intricate. By implementing effective performance measurements, organizations can gain assurance that they are receiving the products and services they contracted for when working with their suppliers.
Throughout the training, participants will explore various performance measurement frameworks and techniques. They will learn how to establish key performance indicators (KPIs), conduct supplier evaluations, and develop performance scorecards. Additionally, the course emphasizes the importance of continuous improvement, providing participants with strategies to drive supplier performance enhancement over the long term.
By attending this course, participants will gain the knowledge and tools necessary to optimize supplier performance and achieve better outcomes in their organization's supply chain. They will develop a comprehensive understanding of performance measurement, supplier evaluation, and continuous improvement. Armed with these insights, participants will be able to establish effective systems for managing supplier performance, fostering stronger relationships, and driving overall organizational success.
Join us in this transformative learning experience, where you will acquire the skills and expertise to measure and manage supplier performance effectively. Learn best practices, performance measurement frameworks, and strategies for continuous improvement. Unlock the potential of your supplier relationships and achieve enhanced outcomes in your organization's supply chain.
Course Objectives:
By attending this course, you will
- Develop your own integrated supplier management strategy using the latest tools and techniques.
- Adopt a strategic approach to managing your suppliers and understand how world-class organizations manage and measure their suppliers' performance, including the challenges they face
- Critically evaluate your current supplier management process and identify areas of improvement
- Segment suppliers to develop a clear understanding of which suppliers need to be measured and managed
- Identify and develop appropriate performance indicators and use technology to measure your suppliers' performance
- Develop strategies to reinforce positive working behaviors and prevent poor supplier performance and contract management
- Evaluate your supplier management process
- Analyze the supply chain process to your category products/services
- Develop meaningful performance indications for analyzing your supplier’s performance
- Develop action plans for improving supplier performance in terms of cost compressed time, inventory, and forecasting
- Appreciate how competitive advantage can be achieved through an integrated procurement and supply chain management approach
- Review the latest thinking on supply chain planning and execution of the integrated concept
- Appreciate the approaches that can be applied to integrating procurement inventory, logistics, and warehousing in a supplier context
Who Should Attend?
Procurement, supply chain, logistics, and materials managers and directors who wish to broaden and update their skills and knowledge. Procurement and supply chain personnel developing relations and suppliers for a long term and strategic co-operation. Those who need chain decisions upon their suppliers and their own company’s.
- Business owners who wish to gain a deeper understanding of measuring and managing suppliers
- Procurement professionals responsible for supplier management and supplier performance measurement
- Senior managers who work closely with suppliers
- Staff involved in developing specifications and sourcing suppliers, to gain a clearer understanding of performance management and measurement
- Legal staff responsible for drafting contracts and contract management post-award
Course Outlines:
- Defining procurement and SCM
- World –Class procurement and SCM
- Diagnosing process capability
- Developing a procurement and SCM strategy
- Forecasting and planning
- Consideration for logistics and distribution
- Supplier partnering
- The value chain model
- Lead times
- Inventory decisions
- Category management
- Becoming World –Class
- Developing strategies
- Aligning procurement business management
- Strategic sourcing
- How to suppliers set prices
- Understanding Costs
- Cost analysis tools and costs models
- Exploring price and cost
- Contracting
- Manage resources
- Value engineering
- Benchmarking
- Getting the supplier to perform
- Developing you own strategy roadmap
- Developing a negotiation strategy
Practical Cases