Strategic Procurement & Supplier Relationship Management: Value Creation Training Course

Introduction

In today's fiercely competitive marketplace, strategic procurement and robust supplier relationship management (SRM) are pivotal for driving sustainable value and achieving a competitive edge. This training course, "Strategic Procurement & Supplier Relationship Management: Value Creation Training Course," equips professionals with the advanced knowledge and practical tools to transform procurement from a transactional function to a strategic driver of organizational success. We delve into the intricacies of supplier segmentation, negotiation strategies, contract management, and performance evaluation, empowering you to build collaborative partnerships that yield significant cost savings, innovation, and operational excellence. By mastering these strategies, you'll enhance your organization's profitability, mitigate supply chain risks, and foster long-term supplier loyalty.

This program focuses on actionable insights and real-world implementation, enabling participants to develop and execute effective procurement strategies and supplier development programs. We explore the latest advancements in e-procurement, data analytics, and strategic sourcing methodologies, emphasizing practical case studies and interactive exercises. You'll learn how to measure and report procurement performance, engage stakeholders, and foster a culture of strategic collaboration within your organization, ultimately transforming procurement into a catalyst for value creation and sustainable growth.

Target Audience:

• Procurement Managers and Directors
• Strategic Sourcing Specialists
• Supplier Relationship Managers
• Contract Management Professionals
• Supply Chain Managers and Analysts
• Finance and Operations Managers
• Business Development Professionals

Course Objectives:

• Understand the fundamental concepts of strategic procurement and supplier relationship management.
• Learn how to develop and implement effective procurement strategies.
• Master the principles of supplier segmentation and relationship management.
• Develop skills in conducting strategic sourcing and spend analysis.
• Learn how to negotiate and manage supplier contracts effectively.
• Understand the role of technology in enhancing procurement and SRM.
• Implement strategies for supplier performance evaluation and development.
• Learn how to utilize data analytics for procurement insights and decision-making.
• Develop skills in managing supplier risk and ensuring supply continuity.
• Analyze the impact of strategic procurement on cost reduction and value creation.
• Understand the legal and ethical considerations in procurement and SRM.
• Develop strategies for engaging stakeholders and building collaborative partnerships.
• Stay updated with the latest trends and advancements in strategic procurement and SRM.

DURATION

10 Days

COURSE CONTENT

Module: Introduction to Strategic Procurement & SRM:

• Overview of strategic procurement and SRM concepts.
• The importance of value creation in procurement.
• Key drivers and trends in strategic procurement.
• Understanding the interconnectedness of procurement and organizational strategy.
• The role of SRM in building competitive advantage.

Module: Developing Effective Procurement Strategies:

• Creating strategic procurement plans and frameworks.
• Integrating procurement into overall business strategy.
• Setting procurement objectives and performance targets.
• Developing sourcing strategies and category management plans.
• Aligning procurement initiatives with organizational goals.

Module: Supplier Segmentation & Relationship Management:

• Principles of supplier segmentation and classification.
• Developing tailored relationship management strategies.
• Implementing supplier collaboration and communication plans.
• Utilizing supplier relationship management (SRM) software.
• Building strategic alliances and partnerships.

Module: Strategic Sourcing & Spend Analysis:

• Conducting comprehensive spend analysis and data visualization.
• Identifying sourcing opportunities and cost reduction levers.
• Developing strategic sourcing plans and implementation strategies.
• Utilizing e-sourcing tools and platforms.
• Implementing category management approaches.

Module: Negotiation & Contract Management:

• Developing effective negotiation strategies and tactics.
• Conducting contract negotiations and drafting agreements.
• Managing contract performance and compliance.
• Utilizing contract management systems and tools.
• Implementing dispute resolution and contract termination processes.

Module: Technology for Procurement & SRM:

• Utilizing e-procurement systems and platforms.
• Implementing supplier portals and collaboration tools.
• Leveraging data analytics and business intelligence.
• Utilizing robotic process automation (RPA) in procurement.
• Implementing blockchain for supply chain transparency.

Module: Supplier Performance Evaluation & Development:

• Developing supplier performance metrics and KPIs.
• Conducting supplier performance reviews and assessments.
• Implementing supplier development programs and initiatives.
• Utilizing supplier scorecards and feedback mechanisms.
• Fostering continuous improvement and innovation.

Module: Data Analytics for Procurement Insights:

• Utilizing data analytics for spend analysis and cost optimization.
• Developing procurement dashboards and reports.
• Implementing predictive analytics for demand forecasting.
• Leveraging data visualization for decision-making.
• Utilizing data mining and machine learning.

Module: Supplier Risk Management & Supply Continuity:

• Identifying and assessing supplier risks and vulnerabilities.
• Developing risk mitigation strategies and contingency plans.
• Implementing supplier risk monitoring and evaluation.
• Utilizing supplier risk management tools and platforms.
• Ensuring business continuity and supply chain resilience.

Module: Impact on Cost Reduction & Value Creation:

• Analyzing the impact of strategic procurement on cost savings.
• Measuring and reporting procurement value creation.
• Developing business cases for procurement initiatives.
• Utilizing total cost of ownership (TCO) analysis.
• Demonstrating the ROI of procurement strategies.

Module: Legal & Ethical Considerations:

• Understanding procurement laws and regulations.
• Navigating contract law and intellectual property rights.
• Ensuring compliance with anti-corruption and bribery laws.
• Implementing ethical procurement practices.
• Developing conflict of interest policies.

Module: Stakeholder Engagement & Partnerships:

• Engaging internal stakeholders in procurement initiatives.
• Building collaborative relationships with suppliers.
• Developing cross-functional procurement teams.
• Communicating procurement strategies and performance.
• Fostering strategic partnerships with key suppliers.

Module: Advanced Procurement Strategies:

• Implementing category management and commodity strategies.
• Utilizing strategic sourcing methodologies and frameworks.
• Developing global sourcing and supply chain strategies.
• Implementing sustainable procurement practices.
• Utilizing value engineering and cost reduction techniques.

Module: Case Studies & Best Practices:

• Analyzing real-world strategic procurement and SRM case studies.
• Learning from industry leaders and best practices.
• Adapting successful models to your organization's specific context.
• Benchmarking procurement performance and identifying improvement opportunities.
• Developing continuous improvement strategies for procurement.

Module: Future Trends in Strategic Procurement & SRM:

• The rise of digital procurement and automation.
• Increased focus on supplier innovation and collaboration.
• The integration of sustainability and ESG into procurement.
• The evolution of global supply chain networks.
• The future of strategic partnerships and value creation.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 5 working days before commencement of the training.