Course description
Advanced Procurement and Managing Suppliers
Upcoming start dates
Training Course Content
This course 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
Why choose LCT International
We have trained over 25,000 delegates from almost 500 client organisations
Highly qualified and experienced trainers who offer a unique learning experience tailored to you
Endorsed by various organisational and subject specific accrediting bodies
Reviews
Average rating 4.8
It was a pleasure attending this training course at LCT. I look forward to returning in the future.
It is a nice experience being part of this course. I am a better HR person now. LCT is doing a good job. Thank you.
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LCT International - High value, high impact training programmes delivered globally to teams and individuals For almost 30 years we have delivered tangible improvements to organisations by enabling their leaders, managers and professionals to reach their full potential through transformational...
Very good training. Will recommend it to other colleagues in HR. Also recommend it to all managers.