Procurement - Core Concepts

General

Program Description

Procurement – Core Concepts

Key Information

  • Course Code: OPM104A
  • Duration: 5 days
  • Fee: £2625

Course Outline

The Role of Procurement in the Value Chain

  • Importance of procurement to business
  • Classification of purchasing goods and equipment
  • New developments in procurement
  • E-procurement

The Purchasing Management Process

  • Primary tasks and responsibilities of the procurement function
  • Supporting the internal client
  • Professionalising purchasing by delivering value for money
  • How purchasing and supply management develops over time

Decision-making in Procurement

  • Creating the Statement of Requirement
  • Supplier sourcing
  • Supplier evaluation and award
  • Negotiation

Procurement Risk

  • Why risk management is key to procurement effectiveness
  • Typical supply chain risks
  • Assessing probability and analysing impact
  • Methods of managing procurement risk
  • The role for contracts as a risk management tool

Buying Business Services

  • Why buying services is different
  • Classification of services
  • Contract Management for the construction industry
  • Managing performance in service contracts

Target audience

  • Professional managers in trade and industry, active in purchasing or supply chain management, who are interested in opportunities for improving the effectiveness and efficiency of the procurement and supply function of their organisations.
  • Those who supervise procurement staff directly or indirectly.
  • Those who come from a non-procurement background and are interested in the latest developments in procurement.
  • Those who are interested in procurement and supply management in its broadest sense.

Learning outcomes

Upon completion of this course, you will be able to understand:

  • The role and importance of the procurement function in the value chain.
  • The major tasks and responsibilities of purchasing.
  • The various roles in a buying decision-making unit.
  • How to manage procurement risk.
  • The specific areas of attention in specifying services, and selecting and contracting service providers.

What is Included:

  • 30 hours of classroom-based training
  • Apple iPad
Last updated Mar 2020

About the School

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all o ... Read More

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all over the world. Read less