Strategic Procurement and Inventory Management

    OVERVIEW This Training program covers the skills required to lead procurement and inventory teams to world-class performance by running organizations leaner, effectively and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital. In an environment characterized by many unknowns, procurement professionals must assist general management by providing purchasing expertise for strategic decisions as it plays an important role in the profitability and success of the business. The Objective of this program is to highlight to procurement/purchasing personnel the various methods and techniques to achieve savings. Participants will be exposed to the basic principles of purchasing, sourcing and evaluation of vendors, quality control and negotiate better to achieve cost savings. Understanding the impact of Inventories on purchasing decisions. LEARNING OUTCOME • Develop an understanding of the importance of the Procurement function and how it impacts the business as a whole • Take decisions effectively as to how much quantity to order, when to order • Negotiate better in procurement with suppliers • Understand Procurement and Sourcing Strategy • Design Selection and Evaluation process of supplier base • Understand Procurement Policies , Procedures & Ethics • Understand the importance of inventory & its impact on the profitability • Apply best methods to optimize the investment in inventory • Techniques to increase productivity and achieve savings through effective procurement & Cost reduction techniques • Understand the KPIs to drive Operations Excellence • Implications and Learnings from COVID 19 • Understand Trends Shaping the Future of Sourcing & Procurement Beyond 2022

    Program Outline ( 2 Days )

    Module1: Overview of Procurement function

    Module 2: Concept of Economic Order Quantity ( EOQ)

    Module 3: Negotiation for Results

    Module 4: Supplier Selection and Evaluation

    Module 5: Procurement Policies, Procedures & Ethics

    Module 6: Materials & Inventory Management

    Module 7: Procurement Cost Management

    Module 8: Operations & Inventory Excellence/Recent Trends

    Course Summary – Developing your Action Plan


    Online synchronous interactive classes, Course notes, Videos, Learning Assessments


    Who should attend:

    Purchasing Managers, Purchasing Executives and Purchasing Officers and Supply Chain professionals


    Requirements: Computer with strong internet connection, webcam, microphone and Microsoft Teams video conferencing platform.

    When is the Class ?

    Date : Refer to schedule 👉

    Time : 9:00am - 5:00pm (GMT+8)

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