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Financial Accounting and Reporting (IFRS)
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Best Practice in Managing Procurement
PL25
Introduction
Procurement is increasingly key to business success in a world of ever more complex, global and mission critical supply chains. A professional and effective procurement function is essential.
This course will equip participants with the tools to manage a modern and professional procurement function. The course will look at both internal (managing the team, continuous improvement) and external (managing suppliers) issues to equip participants to be effective managers within a modern and professional procurement function.
Who should attend
This practical course is designed for Procurement Managers, Project Managers and those working with the procurement function who are required to manage and overcome the challenges as well as maximise on opportunities that exist in the procurement function.
5 days
London | £4950
Dubai | $4950
COURSE PROFILE
The role of the procurement function
- The procurement cycle and the role of procurement
- Internal stakeholder management
- Responsibility mapping
- Understanding your power: Using French & Raven’s model.
- Risk management in procurement, cognitive bias and using a ‘red team’
Managing the market and the procurement function
- Category management and focus on key suppliers
- Supplier appraisal
- Local content requirements
- Key Performance Indicators (KPIs)
- Ethical procurement and Corporate Social Responsibility (CSR)
- Approaches to tendering and tender evaluation
Building and managing your team
- Skills and competencies
- Social styles
- Leading a team
- Performance and potential
- Intervention types
- Assertiveness
- Giving feedback effectively
Managing suppliers
- A strategic approach to supplier management
- Conditioning suppliers and Influencing suppliers
- Fundamentals of negotiations and the negotiation cycle
- Key principles of conflict resolution
- Negotiation tactics and team roles
Evaluating and improving the procurement function
- Evaluating the procurement function
- Practising continuous improvement
- Implementing lessons learned
SKILLS
At the end of this course, delegates will be able to:
- Understand the role of the procurement function.
- Understand and manage relationships with key internal stakeholders.
- Recognise and manage the risks in procurement.
- Understand how to manage the market.
- Ensure the procurement function is measured and monitored appropriately.
- Be equipped to build and manage your team effectively.
- Effectively build relationships with suppliers.
- Effectively and positively communicate your position in disputes with suppliers.
- Systematically evaluate your procurement function to improve it.
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