Professional Certificate in Procurement Compliance

About the Course

Each organisation implements purchasing procedures to ensure open, transparent, and effective procurement. However, ensuring that the team follows these procedures is entirely different. Many companies struggle with procurement compliance due to complacency, negligence, or a desire to move quickly when purchasing new goods or services. However, when policies aren't followed or don't exist, businesses expose themselves to numerous risks, including poor brand image, non-compliance, severe data leaks, etc. Procurement compliance refers to the adherence of individuals responsible for purchasing to establish purchasing rules, procedures, and policies.

The 5-day Professional Certificate in Procurement Compliance training course extends to various aspects, including creating and distributing purchasing policies, monitoring and managing adherence to procurement procedures, assessing procurement risks, and developing risk mitigation strategies. It also involves conducting regular procurement audits, reporting to senior management, and identifying opportunities for enhancing compliance. It will allow delegates to understand the importance of measuring and improving procurement compliance and explore best practices for maximising adherence to purchasing policies. This training programme will also explore different aspects of contractual compliance and process compliance and its associated risk mitigation strategies.

Core Objectives

The delegates will achieve the following objectives:

• Understand the significance and application of procurement compliance
• Explore various techniques in developing and distributing procurement policies
• Analyse how to monitor and manage adherence to procurement procedures
• Assess procurement compliance risk and mitigation strategies
• Demonstrate the importance of conducting regular performance audits to enhance procurement compliance

Training Approach

The training course encourages delegates to participate actively in classroom exercises and assessments. Procurement policies, processes, and procedures across different sectors, tools, and techniques are taught through PowerPoint slides, case studies, experiential exercises, and practical examples that will boost the delegate's procurement knowledge. Furthermore, the delegates will learn by active engagement during the training programme through participating in classroom exercises (video discussion, sharing personal experience, etc.), group discussions, role plays, ice breaker 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
• 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: IMPORTANCE OF PROCUREMENT COMPLIANCE

• Procurement Strategies
• Building a robust Procurement Life Cycle
• Streamlining Procurement Processes
• Determine Procurement Policies and Procedures
• Procurement Compliance vs Contract Compliance
• Best Practices of Procurement Compliance

DAY TWO: CREATION AND DISTRIBUTION OF PROCUREMENT POLICIES

• Aim of Procurement Compliance
• Conducting Spend Analysis
• Enablers for Procurement Compliance
• Determining the Current Procurement Compliance Level
• Development of a Procurement Compliance Framework

DAY THREE: MONITOR AND ADHERE TO PROCUREMENT PROCEDURES

• Monitoring and Controlling Procurement Procedures
• Steps to Ensure Adherence to Procedures
• Compliance Monitoring Plan
• Conducting Performance Audits
• Measuring Procurement Compliance

DAY FOUR: RISK MANAGEMENT AND MITIGATION STRATEGIES

• Internal vs External Risks in the Supply Chain
• Compliance Risk vs Contractual Risks
• Principle of Risk Management
• Risk Management Strategies to Mitigate Risks
• Creation of a Contingency Plan, Business Continuity Plan, and Disaster Recovery Plan

DAY FIVE: ENHANCEMENT OF PROCUREMENT POLICIES

• Prioritising Procurement Compliance Initiatives
• Procurement Compliance Checklist
• Various Reporting Mechanisms
• Compliance Training and Implementation
• Continuous Improvement