Procurement Cycle in the Supply Chain

The procurement cycle is the procedure of choosing a vendor, shopping for items or offerings from them and dealing with their ongoing overall performance. Also called the procurement lifestyles cycle, buying cycle or sourcing cycle, the procurement procedure is, indeed, round in maximum cases.

The steps withinside the buying cycle are:

Challenge or want identification

Approval to purchase RFX introduction and administration

Vendor assessment and selection

Contract negotiation and payment Implementation and delivery

Vendor overall performance review

Strategic Procurement Management

INTRODUCTION

• This training course explores all the skills needed by Purchasers and Procurement Personnel, and helps delegates to practice and refine their skills in a no risk environment.
• Procurement teams used to be seen as about processing paperwork, but it is now understood that they are key to ensuring that the whole organization has the right equipment and services, has costs under control, and can deliver the right Quality and Added Value. This requires teams with a complete set of Strategic Skills and appropriate Management approaches, who know where and how they can add value to their organizations.

Participants will develop the following competencies:

• Strategically focused job descriptions for Purchasing and Procurement
• Select the right purchasing approach for each purchase
• Select suppliers for short and long term success
• Increased skill sets in strategic commercial Planning
• Manage suppliers engagement
• Negotiate with suppliers effectively
• Manage cross-functional purchasing approaches
• Greater abilities in leading continuous improvement purchasing and procurement

WHO SHOULD ATTEND?

• Personnel working in Procurement, Purchasing or Buying
• Buyers / Purchasing Professionals in business, government and the private organizations
• Buyers working for private companies
• Purchasing section heads
• Users and Technical Specifiers
• Project personnel working with contractors
• Professionals in Contracting or other roles who wish to understand purchasing and improve the interaction with their function will also benefit from this Strategic Skills for Procurement training course.

PROGRAMME OBJECTIVES

This training course aims to enable participants to achieve the following objectives:

• Understand the role of Professional Purchasers
• Learn about and practice the key skills Purchasers need to have
• The essential requirements for Purchasing and Procurement Management
• Team structures and roles
• The benefits of improved purchasing and procurement
• Implementing changes within the team and with other departments
• Strategies and tactics for improved contracts and service Agreement
• The uses of tendering, negotiation and other approaches
• Measuring and Improving Suppliers Purchasing Performance
• Examine how to become more strategic in Purchasing Activities
• Determine a best approach to Global Commercial Planning
• Review process for international purchasing
• Analyze ways of managing suppliers more effectively
• Enhance negotiating skills
• Learn ways to deal with economic uncertainties

TRAINING METHODOLOGY

• Participants will learn by active participation during the Strategic Skills for Procurement training course through the use of programme materials, exercises, role playing, video presentations and discussions on “real life” issues in their own and each other’s organizations.

PROGRAMME SUMMARY

• The main goal of this training course is to provide participants with an intensive grounding in the theory and practice of modern Purchasing and Procurement. The training course has been designed to cover an array of essential Purchasing and Management skills while focusing on those that are most critical to personal and business success. The emphasis of the training course will be on the most powerful methods and proven techniques for improving personal effectiveness.
• Delegates will leave the programme with new ideas and processes that they can implement immediately with a confidence in their own skills.

COURSE OUTLINE

Day 1

Fundamentals of Procurement management in the Organization

• Introduction to Procurement in modern organizations?
• What is international Procurement Best Practice?
• What do other functions want from Procurement?
• Supply Chain Management and buying Management Concepts
• Essentials for Effective Purchasing and Procurement
• Stages to world class procurement (International and National)
• Developing The Strategic Plan For The Procurement Activity
• Vendor/Supplier performance Management Systems
• Vendor Rating System

Essential Buying Skills for Procurement Management

• Purchasing and Procurement Segmentation
• Commercial Procurement Intelligence and planning (CPIP)
• Developing procurement commercial awareness
• Supplier/Vendor development Forum
• Supplier/Vendor Selection and engagement
• Procurement Specification writing
• Supplier cost reduction and optimization
• Requests for Information Versus Requests for Quotation
• Procurement Contract Management
• Procurement Contract Law and ethics
• Drafting service Level Agreement for Suppliers/Vendor
• Use of Tendering, negotiation, direct sourcing and e-commerce

Day 2

Commercial Sourcing and Procurement Negotiation

• Starting the Strategic Sourcing Process
• Creating time to be more strategic
• New job descriptions for supply management
• Relations With Other Functions
• Developing the Procurement Price Index
• Dealing with issues of ethics
• Effective Negotiation
• Pricing and Price reasonability
• Negotiation Value Analysis
• Negotiation Cost analysis
• Total Cost of Ownership & Capital Equipment Life Cycle Costing
• Measuring Suppliers
• Key Performance Indicators (KPIs) for Procurement

Day 3

International Sourcing

• Global sourcing
• International buying process
• International Labour Rates
• Locating international sources
• Source evaluation criteria
• Managing exchange rate risk
• Action Planning for implementation

Date: 8^th to 10^th June, 2021

Venue: Remoik Nigeria Limited (Kristina Jade Learning Center) 70B, Olorunlogbon Street, Anthony, Lagos