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Best Procurement meaning Training

Procurement meaning

Strategic Procurement meaning and Vendor Management

Procurement meaning:  This training will familiarize you with the international Strategic Procurement meaning  and Vendor Management standards in the business. The demand for expertise and professional Strategic Procurement and Vendor Management personnel is increasing day by day, so what is your ranking today?

It has now been established without any doubt whatsoever that lean supply chains and efficient procurement systems lead directly to increased bottom line profits.

Leading-edge companies that successfully gain competitive advantage and which are able to implement immediate cost savings are those which possess knowledgeable and skillful Procurement and Vendor Management, professionals

Upon completion of this Procurement meaning 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 activities
  • Identify how supply chains create net value according to the three ways of measuring value.

Procurement meaning Course Content

  1. Introduction to Supply Chain Management                                                                  
  • The Supply Chain Management perspective                       
  • How the process works for both Product and Service sectors
  • The role of the Procurement Manager in the Supply Chain
  • Types of Procurement meaning  method
  • Being customer-focused in the Supply chain 
  • What is Procurement?
  •  Strategic Fundamentals of a buyer
  • The 80:20 law of procurement Management
  • The nature of procurement
  • The Procurement Management Procedure
  • Project Appraisal and Analysis
  • Sourcing
  • Tendering
  • Types of Procurement methods
  • P2P
  • Centralized Procurement
  • Decentralized Procurement
  • Whole Life Procurement (TCO)
  • Bidding
  • The logistics of Procurement meaning in the Chain
  • The buyer’s influence on the Supply Chain
  • Common mistakes in Procurement Management and solutions
  • Procurement meaning Cycle
  • Requirement to purchase
  • Plan the process
  • Prepare the documentation
  • Identify possible suppliers
  • Issue/Receive back the tender/quotation documentation
  • Evaluate the submissions
  • Negotiate
  • Award and place the contract
  • Delivery
  • Pay the supplier
  • Manage and monitor the contract
  • Review the process                                                                              
  •  How smart are you?                                                                
  • Top 10 mistakes in Strategic Procurement and Vendor Management
  • Supply Chain Management Systems designs and Structuring
  • Procurement and Vendor development System 
  • Strategic Procurement and Supply Chain Forecasting techniques
  • Tactical/Departmental Forecasting Techniques
  • Operations Forecasting Techniques
  • Creating efficiency through Work-Study
  • Delivering results via work measurement                                                                                                            
  • Vendor Management and Procurement Stakeholders Management for effective results                          
  • Elements of stakeholders Management
  • Understanding the Politics of Strategic Procurement/Vendor Management
  • Stakeholders Analysis
  • Stakeholders Planning
  • Stakeholders Prioritization techniques
  • Supply Chain Business process Management                                                     
  • Supply Chain Management Planning
  • Strategic Alignment for the Supply Chain Manager
  • Procurement meaning Management detailing technique
  • The Work Structure of Procurement Management System
  • Procurement/Vendor Planning work conversion method
  • Vendor Management Implementation  technique
  • Strategic Procurement  Financial Management
  • Procurement Management Financial Budgeting
  • Cost-saving and reduction development structuring
  • Procurement  Master Budgeting
  • Procurement/Vendor Financial Performance management                                                                                          
  • Procurement  Risk Management                                                            
  • Procurement  Risk Auditing
  • Strategic Procurement  Risk Prioritization and Categorization
  • Procurement/Vendor Performance Management
  • Introduction to Supply Chain and Procurement Management Electronic technology
  • E- Supply Chain Management/Strategic Procurement
  • ERP(Enterprise Resource Planner) usage via Sage, J.D Edwards, SAP, Microsoft Dynamics e.t.c
  • Web-based Vendor and Demand Management
  DURATION
3 (three) days
METHODOLOGY
Lectures Discussions Individual and group exercises Case studies Activities

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