Procurement, Inventory Control and Supply Chain Management

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Procurement, Inventory Control and Supply Chain Management

Inventory management

It has now been established without any doubt whatsoever that Inventory Management, supply chains and efficient Procurement systems lead directly to increased bottom line profits. Leading edge companies which successfully gain competitive advantage and which are able to implement immediate cost savings, are those which possess knowledgeable and skillful Procurement professionals

Upon completion of this course, participants will be able to

  • Provide a working definition of value
  • Compare the various perspectives of value and understand that supply chain management enables companies to manage the trade-off between these perspectives
  • Identify the three ways to measure value: operational, customer, and financial
  • Explain the causes of non-value-added activities
  • Understand that supply chains increase net value by increasing value-added activities as well as minimizing non-value-added Procurement activities
  • Identify how Procurement Management creates net value according to the three ways of measuring value.
  1. BUILD A COMPETITIVE INFRASTRUCTURE
    Upon completion of this course, participants will be able to
  • Identify the right Procurement and Inventory for a given business strategy
  • Define the three kinds of Procurement and Inventory chains found in every business
  • Describe a Procurement and supply chain in terms of the three types of flows
  • Define the four ways customers interact with supply chains
  • Compare alternative supply chain structures
  • Describe how Internet technologies enable supply chains
  • Use a velocity figure of merit to compare Procurement Management alternatives
  • Describe how trust among trading partners maintains supply chain alignment
  • Identify commonly encountered issues that erode trust.

3 LEVERAGE WORLDWIDE PROCUREMENT AND INVENTORY MANAGEMENT
Upon completion of this course, participants will be able to

  • Define Procurement and Inventory Management
  • Explain the increasing importance of Procurement in today’s business world
  • Describe the major decisions faced in analyzing Procurement and explain how these decisions support the physical and information flows in a supply chain
  • Compare the landed cost of physical goods procured domestically vs. physical goods procured internationally
  • Explain how standardized Procurement can be used to integrate physical goods from different countries of origin into the supply chain
  • Discuss the goals of an effective Procurement strategy and explain how the different pieces of a Procurement system work together to support the buying strategy
  • Identify the Procurement and distribution Channels risks associated with managing a worldwide supply chain.

Course Content

DAY 1

  • Supply Chain Management
  • Actual process of the Supply Chain
  • Major functions of the Supply Chain
  • The Supply Chain Structure
  • Supply Chain and Demand Chain
  • Supply Chain underlying Principles- the 4Cs
  • Dealer and Value Chain Management
  • The Bullwhip Phenomenon
  • Introduction to Procurement
  • What Procurement is.
  • Procurement structure development
  • Creating Procurement Advantage
  • The strategic scope of Procurement
  • Procurement Management
  • Procurement Management Integration System (LMIS)

DAY 2

  • Transportation in Procurement
  • Advantages and disadvantages of the major mode of transport
  • Intermodal Transportation
  • Ware house operation

Inventory Business process Management

  • Inventory Management Planning
  • Strategic Alignment for the Inventory Manager

Inventory Management detailing technique

  • The Work Structure of Inventory Management
  • Inventory Planning work conversion method
  • Implementation technique

Inventory Financial Management

  • Budget Forecasting
  • Budget development structuring
  • Inventory Master Budgeting
  • Inventory Financial Performance management

Inventory Management tools and techniques

  • Introduction
  • Objectives
  • Opposing view of inventory
  • Nature of inventory
  • Factors Affecting Inventory

Costs in Inventory

  • Inventory Categories
  • Considerations

Department of Inventory Management

  • Functions of Inventory
  • Selective Inventory Control
  • Reorder Quantity Methods and EOQ
  • Reorder Time Methods
  • Strategic Forecasting techniques
  • Tactical/Departmental Forecasting techniques
  • Operations Forecasting techniques
  • Procurement stakeholders Management
  • Procurement Stakeholders planning
  • Procurement Stakeholders Priotization
  • Procurement Stakeholders optimization
  • Power/Interest Grid Matrix as a tool
  • E-Procurement using any kind of ERP(Enterprise Resource Planner)

DAY 3

  • Procurement and Inventory Risk Management
  • Procurement and Inventory Risk Auditing
  • Procurement and Inventory Risk Priotization and Categorization
  • Procurement and Inventory Performance Management
  • Strategic Inventory Management
  • Types off channel conflict management
  • Analyzing Channel gaps
  • Effective tools to address gaps
  • Third Party Procurement Management
  • Developing a 3PL, 4PL, 5PL and 6PL Procurement Performance System
DURATION
·      3 (three) days
METHODOLOGY
·      Lectures

·      Discussions

·      Individual and group exercises

·      Case studies

·      Activities

Course Fee is N200,000

For more related courses. Please download or view our Training calendar for this year