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

Location Erbil

Fee 300

Start

Sunday, 15 October 2023

End

Thursday, 19 October 2023

Procurement Management: Core Principles, Strategies, and Best Practices

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:
  1. Mastery of procurement practices by enabling participants to efficiently manage procurement processes and make well-informed decisions.

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

  3. 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.

  4. 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 participants’ 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 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.

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.

Course Outline:

Day 1 & 2 Introduction

  • The Importance of Procurement Management

  • Roles and Responsibilities of a Procurement Manager

  • Project Procurement Management

  • Digitized Procurement Management

  • Definition of procurement and procurement management

  • Highlight the difference between procurement and purchasing

  • Highlight the difference between procurement management and supply chain management.

  • Fundamentals of Supply Chain Management

  • List the logical order of the procurement process must follows.

Day 3 Core Concepts and Principles of Procurement

  • Procurement Fundamentals

  • Role of Procurement Professionals

  • Value Chains

  • Purchase Requisites and Purchase Types

  • Procurement Policies and Procedures

  • Strategic Sourcing

  • Procurement Operations

  • Local and International Procurement

  • RFx Processes

  • Evaluation Criteria and Supplier Selection

  • Supplier Relationship Management

  • Total Cost of Ownership

  • Procurement Case Studies

  • Quiz & Homework

Day 4: Negotiation Processes, Sustainability, and Technology in Procurement

  • Review of day three.

  • Negotiation Preparation Stage

  • Negotiation Opening Stage

  • Bargaining Stage

  • Negotiation Closing Stage

  • Winning Negotiations

  • Game Theory

  • Biases in Negotiation

  • Negotiation Tips and Best Practices

  • Negotiation Case Studies

  • Sustainability Improvement Process

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

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

  • Quiz & Homework

Day 5: Basic Principles of Contract Management and Finance

  • Review of day four

  • Contract Clauses

  • Payment Terms

  • Incoterms

  • Service Level Agreements (SLAs)

  • Contract Termination

  • GDPR

  • Balance Sheet

  • Income Statement

  • Cash Flow Statement

  • Financial Ratios

Day 6: Course exam 2 hours

Course Details:
  1. Duration: 5 Days + day 6 exam

  2. Time: 13:00 PM – 17:00 PM

  3. Language: Arabic/English

  4. Delivery Method: Virtual Classroom (zoom)

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 emailing training@mselect.com with the following details:

  • Full Name:

  • City/Town:

  • Email Address:

  • Phone number:

  • Name of the course:

For more information, please call 0 771 842-2380