Procurement is an essential strategic function that enables the organization to improve its profitability through streamlining business processes, reducing material costs and identifying the most relevant sources of supply. Both for private and public sector, procurement plays a crucial role in maximizing the value for money when committing the certain expenditure. Deployment of Effective Procurement strategy relies significantly on long-term supplier relationships, contracting practices and constructive negotiation skills. All of these functions as a bundle can determine overall organizational cost effectiveness and seamless operational process.
Throughout the course of this extensive training program, its attendees will learn how to manage effectively the entire procurement and contracts management lifecycle and master essential negotiation skills while handling the suppliers and vendors. Every step of the process will be covered in depth starting from selecting the most appropriate supplier all the way to establishing service level agreements.
The program is the best suite for:
- Junior, Senior and Mid-Level Supply Chain Managers and Executives
- Manufacturing Managers
- Marketing and Customer Service Managers
- Procurement Managers and Officers
- Vendor and Product Evaluation Managers
- Purchasing Managers and Specialists
- Sourcing Professionals
- Contract Specialists
- Anyone involved in Procurement and Contract Management Processes.
Upon the successful completion of this intensive training course, the participants will be able to:
- Understand the complexities of Procurement and Contract Management
- Set up and Manage the Procurement System Effectively
- Select Suppliers based on strict criteria and establish long-term relationships
- Determine ways to boost the efficiency of Existing Procurement Practices
- Use IT Systems to evaluate supplier performance
- Work Across various functions to improve all aspects of procurement service to the customers
- Apply constructive contracting practices and Perform fruitful Negotiations
- Influence the Organizational Effectiveness through decreasing operating costs and enhancing productivity.
Good Contracting and Procurement Practice
- Elements of a Good Contracting and Procurement Process
- The role of procurement in the organization
- Developing supplier relationships & Performance
- Managing the tendering process
- Understanding the needs of the users of procurement services
- Rationalizing the supplier base
- IT systems in procurement
- Training needs of procurement personnel.
Risks and Financial Management
- Assessing risk
- Cost and Pricing
- Cost Analysis
- Allocating Overheads
- What is a Fair Profit?
- Developing “Should Cost”
- Pricing Models
- Risk Assessment
- Managing the Risks
- Detecting fraud.
Contract Types and Payments
- Contract Risk Sharing Continuum
- Types and Guidelines for progress payments
- Implications of Contract Types
- Fixed Price and Cost-Reimbursement Contracts
- Economic Price Adjustment Clauses
- Understanding and Using Producing Price Indexes
- Invoices and Payments
- Parties to Letter of Credit.
Source Selection and Contract Development
- Processes for Source Qualification
- Developing Prequalification and Tendering Criteria and Applying Standards for Final Selection
- Rules for drafting the Contract
- Terms & Conditions
- Forming the Contract
- Contract documentation
- Essential Elements
- Use of Performance-Based Contracting.
- Role of Negotiation
- Characteristics of a Good Negotiator
- Negotiation Nuggets
- Negotiating contract with suppliers.
Contract Administration and Close Out
- The Critical Integration or Entire Agreement Clause
- Post Award Functions – Overview and Responsibilities
- Contract Administration Duties
- Contract Modifications
- Scope of Work Variations
- Rules of Contract Interpretation
- Contract Disputes
- Contract Close-Out.
The sessions will be conducted using contemporary training tools and techniques. In order to enhance the participant understanding and encourage the instant practical appliance of material covered, the presenter will focus on numerous pragmatic exercises, scenario imitations, video demonstrations, open discussions, case studies and topic relevant exposure tours. Each day will be finalized with attendee feedback in order to improve the performance of the coming sessions and support the unique requirements of each delegate.
Program Dates: 16 – 20 March 2020
Registration Closes on: 31 January 2020
Venue: Ramada By Wyndham Sofia
Program Fee: $2950
Fee Covers:Register Online
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