Procurement and Vendor Management Training

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Procurement and Vendor Management Training Course
Introduction:
In business, the quality of relationships and profitability are closely intertwined. The selection and management of vendors can significantly impact performance outcomes. In this course, we explore the range of business relationships and demonstrate how developing vendor profiles can enhance each relationship. We also examine various go-to-market strategies and their integration with vendor relations. Additionally, we emphasize the importance of leadership and communication skills in maximizing the benefits of vendor relationships. By attending this course, participants will gain the knowledge and skills needed to effectively and efficiently manage procurement functions for both company-wide and project-specific needs.
Course Objectives:
By the end of the course, participants will be able to:
- Evaluate vendor profiles to fit with organizational needs and direction
- Practice vendor integration techniques to support strategic purchasing objectives
- Manage vendor performance to ensure continuous improvement of offerings
- Apply winning go-to-market strategies to support internal capabilities
- Utilize essential soft skills to improve vendor relationship outcomes
Who Should Attend?
Purchasing and supply chain professionals involved in supply management, vendor relations, sourcing, buying, expediting, and vendor evaluation as well as personnel involved in the purchasing process.
Course Outlines:
Overview of Procurement
- The Terminologies
- The major virus of Procurement
- Strategic fundamentals of a buyer
- Critical issues for consideration in developing a procurement strategy
Types of Procurement Methods
- Centralized Procurement
- Decentralized Procurement
- Whole Life Procurement (TCO)
The Procurement Management Procedure
- Project Appraisal and Analysis
- Sourcing
- Tendering and Bidding
Procurement Cycle
- Prepare the documentation
- Identify possible suppliers
- Issue/Receive back the tender/quotation documentation
- Evaluate the submissions
- Negotiation - High-value Negotiation planning
- Award and place the contract
- Delivery
- Payment
- Manage and monitor the contract
- Review the process
Procurement Business Process Management
- Procurement Management Planning
- Strategic Alignment for the Procurement Manager
Financial Skills for Procurement Executives
- Capital Investment Appraisal
- Budget forecasting
- Budget development structuring
- Procurement Master Budgeting
- Procurement Financial Performance management
- Final Investment Decision
Procurement Risk Management
- Guidelines for procurement audit manual
- Procurement Risk Auditing
- Procurement Risk Prioritization and Categorization
Contract Management Skills for the Buyer
- Types of contracts and implementation techniques
- Contract strategies and techniques
- Using the difference in real-life situations.
Effective Negotiation in procurement
Procurement Performance Management
Supplier Development Programming
- Vendor Administration
- Strategic Supplier workshop development
- International Sourcing and E-Procurement
- Procurement Management technological development
- Introduction to Electronic Procurements
- Supplier Management Integration System
- Oracle Enterprise Resource Planners v. Procurement
Procurement Stakeholders Management
- Stakeholders Analysis
- Stakeholders Planning
- Stakeholders’ prioritization techniques
The Role of the Buyer in the Supply Chain
- What exactly is Supply Chain Management?
- How the Supply Chain works
- The logistics of procurement in the Chain
- The buyer’s influence on the Supply Chain
- Common mistakes in Procurement Management and solutions
Legal Issues
- Terms-of-reference for the contract of service
- Effective Contract Management
Key Performance Indicators
- Optimize existing Procurement Models
- Costing models - the Total Cost of Ownership