PROCUREMENT MANAGEMENT & CONTRACTING
Procurement is one of today’s fastest growing management disciplines, in terms of both managerial activity and strategic importance. All organizations need inputs of goods and services from external suppliers or providers. Their aim is to acquire the right products/ services at the right time and to reduce costs. This leads to improving corporate profitability and return on investment. Building a competency in procurement requires an investment in the development of staff skills, new processes and an exposure to the latest best practices.
- Understand the basic terminology, the concept and key elements involved in procurement and contracting.
- Apply the fundamentals and modern principles of the purchasing function.
- Apply the best practices in procurement strategies and processes.
- Improve the efficiency of buying goods and services.
- Select suppliers more efficiently.
- Identify and select the right type of contract.
- Recognize claims resolution techniques.
Who Should Attend?
- Professionals involved in the procurement/ contracting process.
- Professionals from different fields seeking to acquire a good understanding of the procurement process and increase their organization’s profitability.
- Students & fresh graduates from various academic disciplines interested in enhancing their skills in purchasing and contracting.
- Introduction to Procurement Management
- Procurement Management Processes
- Purchasing Function
- Role of Purchasing
- Types of Purchases
- Centralized vs. Decentralized Purchasing
- The Sourcing Decision / Make-or-Buy
- Market Types
- Supply Base
- Supplier/ Buyer Relationships
- General Purchasing Process
- Supplier Evaluation
- Supplier Selection
- Tendering Process
- Types of Tendering
- Introduction to Contracts
- Contract Types & Associated Risks
- Role of Negotiation in Contracting
- Contract Management & Administration
- Claims Resolution Techniques
- Role of Ethics in Procurement
- Global Procurement
- Green Procurement
- Best Practices & Trends in Procurement Management