About the Course

Procurement is the business function responsible for identifying, sourcing, accessing, and managing external resources that an organisation requires to fulfill its strategic objectives effectively. This function enables organisations to explore opportunities in the supply market and implement resource strategies that yield optimal supply outcomes for the organisation, its stakeholders, and customers. Practices in procurement such as preferential buying, supplier innovation, and offloading balance sheets can add value to organisations beyond mere price negotiations. Procurement professionals play a pivotal role in adopting innovative approaches, which can generate numerous benefits. These may include supporting small to medium-sized enterprises (SMEs), fostering market stimulation, and enhancing performance in alignment with broader procurement objectives. In today's volatile global trading environments, it's imperative for procurement professionals to not only understand the theory behind their profession but also to apply that knowledge confidently and effectively for the benefit of the entire organisation, its stakeholders, and customers. 

Therefore, attending this 5-day Procurement Best Practices training course will establish and enforce effective procurement strategies that support an organisation's ambitions in several crucial ways. It could involve value chain management, total cost ownership, process automation, etc. It is designed to evaluate the practical application of procurement concepts and ideas within real-world environments where professionals are expected to operate and share the best practices.

Core Objectives

The delegates will achieve the following objectives:

• Understand the role of procurement in the organisation
• Analyse the added value that can be achieved through procurement
• Recognise strategy formulation and implementation
• Evaluate the effectiveness and efficiency of processes by developing performance measurements
• Acquire the changing needs and future challenges of procurement

Training Approach

The training course encourages delegates to actively participate in classroom exercises, sharing their current knowledge and experience. Procurement practices, processes, procedures across different sectors, tools, and techniques are taught through PowerPoint slides, case studies, experiential exercises, and practical examples to enhance delegates' existing procurement knowledge. Furthermore, delegates will learn through active engagement during the training program, participating in various activities such as video discussions, sharing personal experiences, group discussions, role-plays, icebreaker games, and sharing inspirational stories and best practices.

The Attendees

This training course will benefit professionals working on projects dealing with contracts and procuring equipment, products, and services. Delegates must have prior qualifications/knowledge/experience working within the procurement/buying/contract department.

Likewise, it will be valuable to the professionals but not limited to the following:

• Procurement Managers
• Procurement Directors
• Buyers and Assistant buyers
• Operational Managers who are involved in the Planning and Execution of Purchases and Contracts
• Contract Managers
• Project Managers in the Public and Private Sector Contracts
• Engineering and Maintenance Professionals who are involved in the Planning and Execution of Purchases and Contracts

Daily Discussion

DAY ONE: THE ROLE OF PROCUREMENT

• The Scope of Procurement in Different Sectors
• Impact of External Environment on Procurement
• Strategic Role of Procurement
• Make or Buy Decisions
• Quality Standards
• Integration of Procurement Activities

DAY TWO: ADDED VALUE OF PROCUREMENT

• The Role of Procurement in the Supply Chain
• Sources of Added Value
• Analyse the Business Needs
• The Stages of Sourcing Process
• Added Value through Contract Management 

DAY THREE: STRATEGY FORMULATION AND IMPLEMENTATION

• The Impact of Corporate and Business Strategic Decisions
• The Implementation of Organisational Strategy
• Financial Aspects that Affect Procurement
• Managing Volatility in the Supply Chain
• Regulatory Influence on the Decision Making
• Negotiation Strategies

DAY FOUR: DEVELOP PERFORMANCE MEASUREMENTS

• Evaluation Strategies
• Supplier Involvement and Selection Process
• Quality Assurance
• Supplier Performance Measurement
• Spend Analysis
• Contingency Management

DAY FIVE: CHANGING NEEDS AND FUTURE CHALLENGES

• Future Strategic Procurement
• Risk vs Resilient Supply Chain Networks
• Ethical and Sustainable Management and Leadership
• Influence of Innovation and Technology
• Future Challenges of the Procurement Profession