INTRODUCTION FOR STRATEGIC PROCUREMENT AND INVENTORY MANAGEMENT SYSTEM WITH INTRODUCTION TO CONTRACT MANAGEMENT
Procurement function is one of the main strategic, if not the most important function in a business organization. Company profitability and ability to drive up market share usually relying on an effective and efficient procurement management system
This 14 hours training program is designed to bring awareness, knowledge, skill, and technique to managing a effective and strategic procurement operation.
In this program, driven by a trainer with over 30 years experiences in supply chain and procurement management, participants will learn the key principal of strategic procurement management and how to implement action plan to correct any weaknesses in their current operation.
Key areas covered by this training related to procurement management are role of procurement and business challenges, strategic and tactical strategies of procurement, inventory management, managing procure to pay system and contract management.
COURSE OBJECTIVES
By the end of the 14 hours by 4 session interactive online session, the learning curve achieve will enable the following:-
- UNDERSTAND the strategic sourcing role of procurement in business operation
- IDENTIFY The type of strategy to be in place to manage the procurement and inventory operation
- DEVELOP action plan to implement supplies management strategies
- CARRY OUT risk assessment and take action to overcome to ensure supplies are not disrupted
- MANAGING the contract management system to ensure effective management
WHO MUST ATTEND
- This training program is highly recommended for employees involve in the managing of the supply chain function in the company, for example, personnel from procurement, warehouse, logistics and planning department and finance.
METHODOLOGY
This training will involve the following area to enhance learning:
- Power point presentation
- Case studies & Brain storming session
- Discussion on subject of learning
- Facilitating by trainer to enhance understanding of subject matter
- Exercise to evaluate participants understanding
COURSE CONTENT
Session 1 (9.00am – 12.30pm)
Module 1 – The Role of Procurement
- Definition of Purchasing versus Procurement
- Role of Purchasing
- Role of Procurement
- Job Function of Purchasing and Procurement
- Cycle of Procurement
Module 2 – Business Challenges
- Key Operational and Business Challenges
- Key KPI for Procurement to meet business challenges
- Challenges to Procurement to meet business goals
Module 3 – Strategic and Tactical Objective and Goal of Procurement
- Definition of Strategic and Tactical
- The Ps , Qs and Rs of Procurement
- Key Objectives of Procurement and Purchasing
Session 2 (9.00am – 12.30pm)
Module 3 – Strategic and Tactical Objective and Goal of Procurement
- Strategic Role in Procurement
- Tactical Role in Procurement
- Sourcing Strategy
- Porter 5 Forces Analysis
- Supplier Quality Management
- Supplier Relationship Management
- Supplier Performance Management
- Supplier Management Process Cycle
- Lean Management Strategy in Procurement
- Cause and Effect Technique (5 Why and 1 How) for problem evaluation
- Strategic Cost Evaluation of Quotation and the techniques
- Cost Reduction and Cost Avoidance Strategies
- Supplier Segmentation Management
- Supplier Risk Management
Session 3 (9.00am – 12.30pm)
Module 4 – Procure to Pay
- Process of Procure to Pay
- Objective of Payment System
- International Payment System
- Discounting structure in procurement
- Payment Dispute Management
Module 5 – Inventory Management System
- Type of Inventory
- Principal of Inventory Management
- Best Practices of Inventory Management
- Cycle Counting
- Pareto Analysis
- Lean Inventory Management
Session 4 (9.00am – 12.30pm)
Module 6 – Introduction to Procurement Contract
- Purpose of contract
- Life Cycle of contract
- Key Components
- Dispute clause
- Liability of each party
- Ethics of supply chain
- Termination and extension
- Law on contract in Malaysia (Sales of Good Act Malaysia)
