Blank

Fundamentals of Procurement: Core Principles, Strategies, and Best Practices (Online)

Fundamentals Of Procurement Core Principles, Strategies, And Best Practices (Online)

Location Erbil

Fee $200

Course Date

Sunday, 27 April 2025

Course Overview

This course is designed to provide comprehensive knowledge and practical skills essential for professionals to excel in the field of procurement. In this course, participants will explore the core

principles, strategies, and best practices that drive successful procurement processes. Participants will gain insights into strategic procurement planning, including identifying needs, market research, and supplier evaluation. They will also delve into various procurement methods and learn how to select the most suitable approach for different scenarios. The course will emphasize the importance of developing robust supplier relationships, ensuring compliance, and managing contractual agreements to optimize value for their organizations.

Learning Outcomes
  • Mastery of procurement practices by enabling participants to efficiently manage procurement processes and make well-informed decisions.

  • Proficient negotiation skills by empowering participants to engage in successful and mutually beneficial procurement negotiations.

  • Sustainability and technological awareness by recognizing the importance of sustainability in procurement and understanding how technology can enhance efficiency and effectiveness in the procurement field.

  • Effective contract management and financial analysis by having a strong grasp of contract management principles and assessing the financial health of suppliers with confidence.

Course Objectives
  • Gain a solid foundation in the fundamentals of supply chain management.

  • Acquire a deep understanding of procurement principles, policies, and procedures.

  • Enhance participantsโ€™ practical skills by real-world procurement case studies.

  • Develop essential negotiation skills and strategies for successful procurement outcomes.

  • Understand the importance of sustainability in procurement and roles of technology in the field.

  • Develop a solid understanding of contract management principles along with gaining knowledge of key financial statements.

Training Methodology

This course employs a dynamic and interactive training methodology designed to maximize participant engagement and knowledge retention. As the course incorporates real-life case studies, participants will actively participate in discussions to apply their knowledge and problem-solving skills in practical procurement scenarios. This fosters a collaborative learning environment and enables the exchange of ideas and best practices among peers.

โ€‹

Who Should Attend this Course

Professionals involved in supply chain management and procurement, as well as individuals seeking to enhance their knowledge and skills in these areas.

โ€‹

Course Outline
โ€‹

Day 1: Fundamentals of Supply Chain Management

  • Suppliers, Manufacturers, Distributors, and Retailers

  • Upstream and Downstream Supply Chain

  • Reverse Logistics

  • SCOR Model

  • Supply Chain Vision, Mission, Strategy

  • Design for Supply Chain and Risk Reduction

  • Inventory Control

  • Inventory Classification

  • Supply Planning

  • Demand Forecasting

  • Manufacturing, Distribution, Retails, VAS, and Reverse Logistics Warehouses

  • Land, Air, Sea, and Pipeline Transportations

Day 2: Core Concepts, Principles, Practices of Procurement

  • Procurement Fundamentals

  • Role of Procurement Professionals

  • Strategic role of Procurement in organizational success

  • Value Chains

  • Purchase Requisites and Purchase Types

  • Procurement Life Cycle

  • Procurement Policies and Procedures

  • Procurement Models

  • Market Analysis and Supplier Segmentation

  • Procurement Operations

  • Local and International Procurement

  • Strategic Sourcing to Optimize Cost, Risk, Quality, and Delivery

  • RFx Processes

Day 3: and Risk Mitigation, Negotiation Processes

  • Total Cost of Ownership

  • Evaluation Criteria and Supplier Selection

  • Procurement Case Studies

  • Risk Management and Risk Mitigation Risk

  • Negotiation Preparation Stage

  • Negotiation Opening Stage

  • Bargaining Stage

  • Negotiation Closing Stage

  • Winning Negotiations

  • Game Theory

  • Biases in Negotiation

  • Negotiation Tips and Best Practices

Day 4: Ethics and Sustainability in Procurement | Tools and Technology in Procurement

  • Negotiation Case Studies

  • Sustainability Improvement Process

  • Ethics in Procurement

  • Procurement Metrics and KPIs

  • Supplier Relationship Management

  • UN Global Compact, ETI Base Code, and the BSCI Code of Conduct

  • E-Procurement Systems: Digital Tools, Software, and Systems

  • Automation and Digital Transformation in Procurement

  • Artificial Intelligence (AI) in Procurement

Day 5: Basic Principles of Contract Management and Finance

  • Contract Clauses , Payment Terms

  • Incoterms , Service Level Agreements (SLAs)

  • Contract Termination

  • Receiving Goods

  • GDPR

  • Balance Sheet

  • Income Statement

  • Cash Flow Statement

  • Financial Ratios

  • Course Assessment | Q&A sessions

Course Details
  • Duration: 5 Days

  • Time: 7:00 PM โ€“ 10:00 PM

  • Language: English and Kurdish

  • Delivery Method: Online

โ€‹Payment

Must be made 5 working days before the start of the course. Payment can be made in cash, by bank transfer or through exchange offices.

How do I register?

You can register by emailingtraining@mselect.comwith the following details:

  • Full Name:

  • City/Town:

  • Email Address:

  • Phone number:

  • Name of course:

For more information, please call 066 261 4455 or (0) 771 842-2380