Procurement of Equipment and Materials
Select Other "city & date"
Procurement of Equipment and Materials Course
Introduction:
This course is recognized as a vital process in operational companies, as it significantly impacts customer service and the bottom line. However, supply chain management (SCM) is challenging due to its dynamic nature and numerous uncertainties. To leverage this untapped opportunity, many companies are investing in enhancing the skills of their SCM employees. This course focuses on discussing SCM best practices and providing solutions to help participants navigate different scenarios, ensuring a continuous material flow at minimal cost.
Course Objectives:
By the end of the course, participants will be able to:
- Describe the objectives and functions of materials and supply chain management (stock control, purchasing, stores, and physical distribution) and explain how they relate to each other
- Categorize stock items based on the ABC classification model
- Calculate future demand for different stock items
- Identify Reorder Points (ROP), Economic Order Quantity (EOQ), and Safety Stocks (SS) for different stock items
- Apply the basic purchasing processes and use Incoterms appropriately
- Identify best practices in warehouses to maintain accurate inventory records
- List the various transportation functions and costs
- Appreciate the implication of the impacts of logistics & materials management and purchasing functions both internally and external to the organization
- Apply the concepts of international logistics/freight procedures & documentation
- Appreciate the importance of effective resources planning
- Develop optimized work processes and financial areas such as cash flow, cost reduction, and management
- Learn how to effectively manage inventory utilizing selective inventory strategic policies
- Develop specific action plans to further develop their role and organizational benefit
Who Should Attend?
Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing, and transportation) are concerned with successfully providing acceptable customer or user service at a minimum cost. This course is also appropriate for anyone who needs to know more about the role of materials management.
Course Outlines:
The Role of Logistics and Supply Chain Management in Modern Businesses
- Evaluate the logistics role in the current business process
- The evolution of Supply Chain Management and Supply Chain dynamics
- The application of a Supply Chain approach
- How to use and apply the Supply Chain Operations Reference Model (SCOR)
- Identifying Supply Chain Instabilities and Risks
- Internal supply chain risks
- PESTLE risks
- Inventory risks
- Disruption risks
- Security risks
- Procurement risks
Linking Strategies and Improvement in Cost and Productivity in Procurement
- Developing Spend Analysis for establishing purchase prices index
- Examine the Total Cost of Ownership
- Analyze Supplier portfolio and classification utilizing and applying Kraljic’s Matric and Porter’s 5 Forces
- Formulate, plan and organize Strategic purchasing plans
- Illustrate the effective order-cycle and lead-time effect on Purchasing
- Plan and organize for negotiations
Strategic Supply in Materials Management
- Formulate, plan and organize formal procedures for making stock decisions
- Explain, discuss and review safety stock levels and order points
- Apply and improve min/max systems and settings
- Using material forecasts
- Cataloging materials for the effective buying process
- Developing Bills of Material for effective parts management
Effective Inventory Planning and Control
- Setting comprehensive inventory goals and objective
- Effecting a rationalization strategy
- Calculating and evaluating carrying costs and economic order quantity theory
- Establishing a Strategic Focus with Pareto Analysis on Cost
- Improving material identification and coding
- Creating best practices in the physical control of materials
- Measuring record accuracy and improving cycle counting systems.
Tactical and Operational approaches in Transportation Economics
- Apply the Role of Transportation in Logistics to the organization
- Identify and recognize Transportation Management Strategic Key Decisions
- Explain, discuss and review the types of mode and intermodal systems
- Show and illustrate the International Commercial Terms in transportation and the liabilities
- Identify and review Hazardous materials transportation.