London Business Training & Consulting

Procurement Strategy

The management of the procurement function itself – as opposed to the management by procurement staff of contractors and suppliers – can make the difference between having a purely administrative, internal service provider team that operates in the background, or a strategically important function that can help shape the success of the enterprise. If the head of procurement is a mid-ranking manager he or she may not have the ear of the chief executive. But if the company has a Chief Procurement Officer in the "C Suite", working alongside his or her peers from Finance, Operations and Technology, then it's fair to assume procurement is seen as key to delivering the corporate strategy. This course looks at aspects of procurement at its most influential and value-adding.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Procurement and Business Strategy

• The development path for procurement from transactional to value chain management
• Procurement Organization, structure and job functions

Managing Procurement Risk

• What risks should procurement be considering?
• A process to identify, analyse and respond to priority risks
• Important supply chain risks – case study
• How to manage risks that turn into reality

Procurement – Performance Measurement and Governance

• Benefits of measuring the performance of procurement
• Assessing Purchasing Effectiveness and Purchasing Efficiency
• KPIs for measuring performance
• Procurement Information systems

Procurement Benchmarking

• Identifying cost savings potential
• Spend analysis
• Category management
• Procurement Portfolio analysis
• Developing a Sourcing strategy

Course Review

• Summary and recap of key learning objectives
• Action Planning

Target Audience

This course is suitable for:

• Procurement Officers, analysts and managers.
• Contract Engineers and analysts.
• Quantity Surveyors
• Commercial advisers
• Procurement team members
• General managers
• Executives tasked with managing contracts.
• Contract Administrators
• Anyone who wishes to have a good understanding and involvement in purchasing activities.

Learning Outcomes

Upon completion of this course, you will have:

• Learned about the value Procurement can bring to delivering the corporate strategy.
• Considered how to structure the procurement function, to make the biggest difference inside organizations.
• Acquired skills in important procurement activities, such as value chain analysis, purchasing portfolio management and category management.
• Practiced techniques in benchmarking the performance of the procurement team.
• Devised an Action Plan to be implemented at your workplace using the knowledge and skills acquired through the course.