Procurement Strategy Development

Course Overview

Developing an efficient and effective procurement strategy can contribute as much to an organisation’s profitability as what Sales and Operations may similarly contribute. Additionally, and more importantly, it will protect its organisation’s ability to meet operational goals and protect customer satisfaction by ensuring on-time supply protection of goods and services by utilising a robust and secure supplier base. The management of efficient product or service sourcing on a timely basis and at a price that the organisation depends on to ensure its competitiveness has traditionally been the remit of Procurement.

Procurement strategy development is regarded as a key driver of business success and one that business management will overlook at its peril. Successful organisations recognise the strategic value of Procurement as a significant player in providing the right products, in the right quantities, at the right time, of the right quality, in the right place and at the right cost, thus ensuring the right management of company resources. To effectively manage the purchase of up to 70% of what eventually can constitute the organisation’s turnover figure or 55% of its total expenditures requires a radically different set of skills to what once was the remit of a purchase order placer.

This 5-day Procurement Strategy Development training course will provide the knowledge and understanding of the various responsibilities that align with forming a Procurement Strategy. It will equip the participants with the knowledge to establish and provide a seamless strategy for their organisation, aiding skills and potential to assume progressive roles and responsibilities, complementing the organisation’s success and, more particularly, their career ambitions irrespective of which industry segment or sector they may choose.

Course Objectives

On completion of this training course, the participants will be able to:

• Understand the array of requirements that should be researched and utilised within an organisation.
• Understand the end-to-end process of developing category management programmes
• Develop and maintain good relationships with peers, suppliers and customers to enable the holistic operation to succeed
• Become knowledgeable of sourcing plans and how and when to select and deploy the most appropriate ones
• Know how to mentor departmental staff, peers, and stakeholders on advanced Procurement Strategy concepts
• Design and develop robust supplier contracts and how to populate these to suit the specific strategy requirement
• Influence management and stakeholder support for suggested enhanced strategies and tactics
• Become an ambassador for the strategic importance of Procurement

Target Audience

It is suitable for a wide range of working professionals, including (but not limited to) the following participants that have a direct involvement or exposure to the impact of procurement management:

• Procurement and Supply Management
• Logistics Management
• Operations Management
• HSE Management
• Finance Management
• Project Management
• Sales Management
• Marketing Management

Training Methodology

The training course will primarily utilise a mixture of PowerPoint presentation material, video clips where applicable, participants’ internet research and facilitating classroom group activities where practical case studies can be understood and discussed. The methodology will also encourage participants to provide their experiences of successes achieved in their businesses.