Introduction to Procurement
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This interactive training course considers fundamental elements of the procurement process together with basic tools and techniques used within procurement and supply.
It will ensure that you understand best practice end-to-end procurement process and how the use of key procurement tools and techniques can make a fundamentally important contribution to the profitability of your organisation.
Alongside the bigger procurement picture, the course provides an excellent grounding in procurement basics. It takes an overview of each of the key stages of the purchasing cycle and examines how each one contributes to the effective management of the organisation’s supply needs.
An overview of procurement
- The role of procurement in organisations
- The objectives of procurement – the five ‘right’s
- The process of procurement – the purchasing cycle
The sourcing process
- Determining requirements – conformance and performance specifications
- Approaching the market – sources of information: RFIs, RFPs, RFQs
- Supplier appraisal and selection
Negotiating and contracting
- Negotiation approaches
- The negotiation process – the 7 stages of negotiation
- Formation of agreements
- Internal and external stakeholders
- Supplier relationships
- Managing contracts and supplier performance