Training on Strategic Procurement Management

Course Overview

Strategic Procurement training is crucial for modern organizations striving for success. As the role of purchasing personnel evolves from transactional order placers to strategic business partners, a robust procurement strategy and skilled professionals become vital. This Strategic Procurement Management course is designed to equip participants with the necessary management and strategic skills to increase value for money and align procurement processes with organizational objectives. By understanding the stages of effective procurement strategy development, attendees will be prepared to meet global changes in transformational leadership and finance. 

Target Audience

This strategic procurement management training is ideal for:

• Senior Procurement and Supply Chain Professionals
• Managers and Leaders involved in global sourcing activities
• Finance Professionals engaged in major capital expenditure projects
• Project, Contract, and Procurement Managers
• Senior Buyers and Category Management Professionals
• Procurement and Supply Chain Professionals seeking to enhance their strategic procurement knowledge

Whether you're looking to refine your skills or expand your leadership capabilities, this course offers valuable insights. 

Course Objectives

By attending this Strategic Procurement Management course, participants will gain the ability to:

• Realize Procurement's Contribution: Understand how procurement supports organizational objectives.
• Demonstrate Strategic Knowledge: Master strategic procurement processes.
• Understand Financial Impact: Comprehend financial and cost drivers affecting the value chain.
• Apply Global Sourcing: Implement global sourcing strategies to meet organizational goals.
• Maximize Cost Savings: Use category management strategies to optimize total cost savings.
• Manage Supplier Relationships: Enhance supplier performance for greater value.
• Embrace Leadership and Ethics: Develop strategic leadership and ethical practices in procurement.

Key Outcomes

• Strategic Alignment: Align procurement strategies with organizational goals for success.
• Financial Acumen: Understand the financial aspects that drive procurement decisions.
• Global Sourcing Expertise: Implement strategies to optimize international procurement.
• Leadership and Ethics: Foster ethical procurement practices and leadership development.

Course Outline

Module 1: Introduction to Strategic Procurement Management 

• Objectives and evolution of procurement within the supply chain.
• Trends impacting supply management.
• System Approach vs. Traditional Functional Approach.
• Procurement's role in achieving organizational goals.
• Overview of the strategic procurement process.

Module 2: Financial and Cost Impact Awareness Along the Value Chain 

• Budgeting and costing across the value chain.
• Understanding fixed vs. variable costs and contribution margin.
• Total Cost of Ownership and life cycle costing for capital equipment.
• Performance measurement and its impact on profitability.

Module 3: Global Sourcing and Category Management Strategies 

• Benefits of strategic sourcing.
• Defining and developing sourcing strategies.
• Tactical vs. strategic sourcing.
• Overview and evolution of category management structures.

Module 4: Supplier Relationship and Performance Management 

• Supplier selection and turning vendors into partners.
• Managing relationships with suppliers and stakeholders.
• Integrating and developing the supply base.
• Using performance metrics and service level agreements effectively.

Module 5: Procurement Leadership & Ethics in Procurement 

• Leadership perceptions in procurement.
• Transformational leadership and strategic thinking.
• Promoting ethical behavior and sustainability in sourcing.
• Managing ethical and responsible procurement practices.