Supply Chain & Operations

SOP 4 Procurement and Managing Suppliers – Level 2

Refine competitive tendering, risk management and supplier selection procedures to get 'best value'

Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME

Who should attend?

  • Purchasing executives, senior managers, and professional staff from supply chain management, logistics and inventory planning and control
  • General managers wanting to understand the procurement function
  • Those engaged in the management or operation of projects
  • Those responsible for developing, managing or working with budget/cost constraints
  • Those with an interest in strategic planning and costs management
  • Those who are involved in the planning, evaluation, preparation and management of purchasing, tenders, contracts that cover the acquisition of materials, equipment, and services
Course Code:SOP 2B
Subject:Procurement & managing Suppliers Level 2
Course Fee:£365
Duration:3 Days

Learning Objectives

By the end of the course delegates will be able to:

  • Set up and manage procurement activity
  • Select suppliers using appropriate evaluation methods and criteria
  • Measure supplier performance
  • Identify ways to increase procurement effectiveness and efficiency
  • Develop a strategy for sourcing that achieves tangible benefits
  • Review critical supply strategies
  • Implement the strategic sourcing strategy to maximise total cost savings
  • Assess and prioritise opportunities for savings

Course Content

Overview of the Procurement Cycle

  • The principles of procurement
  • The procurement process
  • Compiling the Approved Supplier List
  • Supplier Relationship Management (SRM)
  • Monitoring and Managing Supplier Contracts

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

Measuring Schedule, Costs and Earned Value Management

  • Scheduling tools and techniques
  • Validating the schedule
  • Managing change within the project
  • The importance of a good cost/schedule baseline to measure performance against
  • The tools and techniques for using Earned Value Management

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