Course Introduction

This Mastering the Art of Strategic Procurement is an intensive 5-day mini MBA online training course designed to meet global changes in transformational leadership, finance and procurement strategies. In today’s world middle and senior managers are faced with increasingly complex “value chain management”. A strategic approach to procurement can give organisations a competitive advantage by maximizing benefits received in return for spend, therefore professionals need to understand the various elements driving change strategies, ensure cost efficiencies and achieve competitive procurement in a global environment. This concentrates on the core leadership strategies, financial implications and sourcing activities.

This online training course will feature:

• Understanding of strategic leadership in the economic context for your business
• Developing innovation approaches for strategy development
• Enhancing costs awareness within the value chain and understanding the impact on the bottom line
• Defining and apply sourcing strategies in line with your organizational goals and objectives
• Building collaboration and long term supplier relationships

Objectives

By the end of this online training course, participants will be able to:

• To understand the benefits of strategies that create and lead change
• To apply tools and techniques that develop strategic thinking and innovation
• Implement analysis and problem solving
• Understand Total Cost of Ownership (TCO)
• Develop robust Service Level Agreements (SLA)
• Maximising supplier contribution and performance

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted online via an Advanced Virtual Learning Platform in the comfort of any location of your choice

Organisational Impact

This online training course will feature:

• Understanding of strategic leadership in the economic context for your business
• Developing innovation approaches for strategy development
• Enhancing costs awareness within the value chain and understanding the impact on the bottom line
• Apply powerful interpersonal techniques to improve communication, and stakeholder management
• Defining and apply sourcing strategies in line with your organizational goals and objectives
• Building collaboration and long term supplier relationships

Personal Impact

By the end of this online training course, participants will be able to:

• To understand the benefits of strategies that create and lead change
• To apply tools and techniques that develop strategic thinking and innovation
• Implement analysis and problem solving
• Understand Total Cost of Ownership (TCO)
• Develop robust Service Level Agreements (SLA)
• Maximising supplier contribution and performance

Who Should Attend?

Professionals interested in furthering their leadership and procurement management skills would benefit from this Mastering the Art of Strategic Procurement online training course. It will also be beneficial to:

• Managers and leaders involved in major global sourcing activities
• Finance professionals involved with major capital expenditure projects
• Senior procurement professionals
• Project managers
• Contract and procurement managers
• Senior buyers
• Commodity procurement specialists

Course Outline

DAY 1

Procurement Leadership

• Perceptions of leadership in the field of procurement
• Management vs. leadership
• Transformational leadership in procurement
• The leadership challenge: balancing strategy and culture
• Leadership in strategic thinking organisations
• Understanding the interrelated factors that impact procurement

DAY 2

Aligning Procurement to Organisational Strategy

• Participating in the strategic implementation planning process
• Recognizing and interpreting forces in the strategic environment
• Strategic implementation - Tools and frameworks
• Analysing and prioritizing strategic sourcing issues
• Harnessing uncertainty and risk
• Converting strategy into action

DAY 3

Cost Awareness and Financial Impact Along the Value Chain

• From strategic planning to the operating plan
• Budgeting and costing along the value chain
• Fixed vs. variable costs
• Contribution margin
• Direct vs. indirect costs
• Performance measurement and impact on the bottom line

DAY 4

Global Sourcing and Critical Procurement Strategies

• Defining procurement excellence
• Definition of sourcing strategy and critical supply strategies
• Tactical vs. strategic sourcing
• Developing the strategic procurement plan
• Using international supply chains for competitive advantage
• Developing a framework for managing contract risk

DAY 5

Developing and Maintaining Long-term Supplier Relationships

• Implications on supplier selection procedures
• Turning vendors into partners
• Relationship management – Suppliers and stakeholders
• Performance improvement metrics
• The service level agreement framework
• Applying the right incentives for the right outcome