Overview

Procurement management is a core competence which requires a coordinated and structured approach to seek out and manage external suppliers. Effective procurement management holds a strategic position to really support business growth and operational efficiency. Typically, a strategic procurement approach helps to manage organisation’s spending, support operations and protects the organisation from risk.

The program provides fundamental knowledge of procurement management and contract administration. It provides participants with an understanding of key activities in the procurement cycle – procurement planning, procurement definition, tendering and sourcing, evaluation and selection, award of contract and contract management. The course also highlights challenges that typically arise and demonstrates effective procurement management and resolution processes.

Areas covered

• Procurement process: cost savings or strategic value?
• Transitioning from tractical and operational to opportunities for innovation
• The procurement cycle and planning – detailed discussion
• Building quality standards in each process activity
• Developing and implementing a sourcing strategy
• Understanding the supplier-related issues
• Setting and monitoring delivery standards
• Overview of contract and contract management in procurement
• Pre-contractual negotiations – how to ensure desired risk transfer in achieved
• Documentation – the purpose and importance of various documents
• Contractual interpretation – sensible contract management decisions