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Training content
Thiscourse will cover:
The Principles of Procurement
- Definition of procurement vs purchasing activities
- Defining the goals of procurement
- The role of procurement
- Supporting the business strategic objectives
- Formulating the procurement strategy
The Procurement Process
- Key roles and responsibilities
- Forming commodity teams
- Planning the procurement activities
- Development of the procurement policy
- Developing the supplier selection process
Compiling the Approved Supplier List
- Determination of the most appropriate suppliers
- Methods and techniques of inviting potential suppliers
- Developing the supplier questionnaire
- Supplier segmentation and grading Tier 1, 2 and 3 suppliers
- Developing supplier performance metrics
Supplier Relationship Management (SRM)
- Introduction to the principles of SRM
- The importance of the buyer/supplier relationship
- Developing the SRM strategy
- Collaboration and joint working
- Motivating suppliers and continuous improvement
Monitoring and Managing Supplier Contracts
- Managing the contract and setting expectations
- The importance of setting proper baselines
- Conducting supplier appraisals based on performance measures and metrics
- Dealing with underperforming suppliers
- Dealing with breaches and disputes
Definition and development of a sourcing strategy
- Understanding the concept of strategic sourcing
- Differences between sourcing and strategic sourcing
- The seven stages of a competitive sourcing strategy
- The value and benefits of strategic sourcing
- Performing a strategic sourcing gap analysis
The Strategic Sourcing Process
- Working to the seven phases
- Generate the supplier portfolio
- Determine the implementation path
- Selection of strategic suppliers
- Integration of the strategic suppliers
Strategic Cost Management
- Principle of cost management in procurement
- Whole life costing
- Total cost of ownership
- Target costing and analysing prices
- Should cost analysis
Identifying and managing risks
- Determination of the risk involved in the global supply chain
- Practical risk identification and assessment
- Proactive risk management
- Effective risk migration strategies
- Dealing with challenging situations in the supply chain
Costs
Please contact us for more information on pricing.
Why choose LCT International?
We have trained over 2,500 delegates from almost 600 client organisations
Complimentary Heathrow transfer (one-way)
Endorsed by various organisational and subject specific accrediting bodies
Contact this provider
London Corporate Training (LCT)
London Corporate Training have been established in the education, consulting and training industries for two decades. They work as a training team from their head office in London and aim to ensure all of their course participants receive the highest...
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