Advanced Procurement and Managing Suppliers

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