INTRODUCTION FOR OPTIMIZING PROCUREMENT CUTTING-EDGE SOURCING SOLUTIONS
This 2-day training begins by exploring the role of procurement, highlighting its importance in business operations and the supply chain. Participants will learn key supplier-vendor strategies to build strong relationships and assess supplier strengths and weaknesses using practical tools.
The course then covers competitiveness in procurement, teaching strategies to stay ahead, reduce costs, and improve processes. Participants will also explore how AI can enhance procurement decision-making.
On Day 2, the focus shifts to problem-solving techniques, strategic vs tactical sourcing, and managing procurement risks. The afternoon sessions will address fraud management and provide hands-on practice using AI to optimize sourcing and procurement processes.
COURSE OBJECTIVES
- The objective of this training is to equip procurement professionals with advanced sourcing strategies, tools for supplier management, and the integration of AI in decision-making. Participants will learn how to enhance competitiveness, manage risks, and detect fraud within procurement processes.
LEARNING OUTCOME
Upon successful completion of this course, participants will be able to:
- Understand the evolving role of procurement and its impact on business success.
- Develop key supplier-vendor strategies to build and maintain strong partnerships.
- Gain practical skills in evaluating supplier strengths and weaknesses.
- Learn how to apply AI tools in procurement to optimize sourcing and decision-making.
- Identify and mitigate risks in procurement while preventing fraud.
WHO MUST ATTEND
- Procurement managers and professionals
- Supply chain managers
- Vendor management teams
- Sourcing specialists
- Business owners involved in procurement decision-making
PREREQUISITE
At least one year of experience in Logistics / Supply Chain Management / Procurement
COURSE CONTENT
Time | Day 1 Schedule (0900-1700) | Day 2 Schedule (0900-1700) |
09:00 – 09:30 | Registration & Introduction to the Training | Recap of Day 1 & Introduction to Day 2 |
09:30 – 10:30 | The Role of Procurement | Problem-Solving Techniques in Procurement |
– Overview of procurement functions | – Analyzing procurement challenges | |
– Importance in supply chain & business operations | – Case studies & practical exercises | |
10:30 – 10:45 | Morning Break | Morning Break |
10:45 – 12:00 | Key Supplier-Vendor Strategies | Strategic vs Tactical Sourcing |
– Identifying key supplier relationships | – Distinguishing between strategic and tactical approaches | |
– Building long-term partnerships | – Benefits and challenges of each method | |
12:00 – 13:00 | Assessing Supplier Strengths & Weaknesses | Risk Assessment & Mitigation in Procurement |
– Tools for evaluating suppliers | – Identifying and assessing risks in sourcing | |
– Analyzing competitive advantages | – Mitigating supply chain disruptions | |
13:00 – 14:00 | Lunch Break | Lunch Break |
14:00 – 15:15 | Competitiveness in Procurement: Gaining the Edge | Fraud Management in Procurement |
– Identifying competitive procurement strategies | – Understanding fraud risks in procurement | |
– Achieving efficiency and cost-effectiveness | – Tools for preventing and detecting fraud | |
15:15 – 15:30 | Afternoon Break | Afternoon Break |
15:30 – 16:45 | Using AI in Procurement & Sourcing Decisions | Using AI in Procurement & Sourcing Decisions (Continued) |
– Introduction to AI tools in procurement and sourcing | – Advanced techniques & hands-on activities | |
– Practical applications of AI for improving decision-making | – Simulations and real-world examples | |
16:45 – 17:00 | Q&A and Day 1 Wrap-Up | Final Q&A, Feedback & Closing Remarks |