Best Practice in Managing Procurement (PL25)
Duration: 5 days
In an era of increasingly complex, global, and mission-critical supply chains, procurement has become a cornerstone of business success. This comprehensive course is designed to equip procurement professionals with modern tools and strategies to enhance their procurement function. Over five days, participants will gain practical skills to manage internal teams and external suppliers effectively, ensuring a professional and efficient procurement operation. The course emphasises continuous improvement, ethical procurement practices, and strategic supplier management, preparing delegates to navigate and excel in the dynamic procurement landscape.
This practical course is ideal for Procurement Managers, Project Managers, and professionals involved in the procurement function. It is tailored for those who need to overcome procurement challenges and capitalise on opportunities. Participants will include procurement subject matter experts, technical specialists, and leaders responsible for specialised procurement teams. This course ensures that attendees remain at the forefront of their fields, equipped with the latest tools and strategies in procurement management.
The Role of the Procurement Function
- Understanding the procurement cycle and its importance
- Managing internal stakeholders effectively
- Mapping responsibilities within the procurement team
- Utilising French & Raven’s power model
- Managing risks and addressing cognitive biases
Managing the Market and the Procurement Function
- Implementing category management and focusing on key suppliers
- Appraising suppliers for optimal selection
- Adhering to local content requirements
- Setting and monitoring Key Performance Indicators (KPIs)
- Practicing ethical procurement and Corporate Social Responsibility (CSR)
Building and Managing Your Team
- Identifying necessary skills and competencies
- Understanding social styles within the team
- Leading a procurement team effectively
- Assessing performance and potential
- Implementing assertiveness and feedback techniques
Managing Suppliers
- Developing a strategic approach to supplier management
- Conditioning and influencing suppliers
- Understanding fundamentals of negotiation and the negotiation cycle
- Resolving conflicts with key principles
- Applying negotiation tactics and defining team roles
Evaluating and Improving the Procurement Function
- Conducting comprehensive evaluations of the procurement function
- Practicing continuous improvement methodologies
- Implementing lessons learned from past projects
- Using benchmarking to drive performance improvements
- Integrating new procurement technologies
At the end of this course, delegates will be able to:
- Map and manage procurement responsibilities effectively.
- Utilise power models to enhance team and stakeholder management.
- Implement category management and supplier appraisal processes.
- Develop and monitor procurement KPIs.
- Lead and build high-performing procurement teams.
- Apply strategic approaches to supplier management and negotiations.
- Resolve conflicts using key negotiation principles.
- Evaluate and continuously improve the procurement function.