Procurement, Supply Chain and Inventory Management
Details
This 5-day training course 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. It focuses on the ‘gaps’ in performance to be filled in order to provide the continuous improvements needed to meet strategic objectives. Procurement and inventory are two of the least understood areas of business in many organizations, but are essential for good business results. Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital
Who should attend?
• Purchasing, Procurement, Contracts, Contract Administration, Projects personnel
• Engineering, Facilities, Finance, and Maintenance Personnel
• Personnel involved in the planning and management of tender process
• Those involved in inventory management as a supplier, buyer, materials planner, warehousing, finance or even end-customer
• Those in general management wanting an understanding of the procurement and inventory processes
• Explore many ways of reporting key performance indicators (KPIs)
• Understand the most important competencies for purchasing personnel
• Understand the importance of inventory & the role it plays in the profitability of the company
• Apply best methods to optimize the investment in inventory
MODULE 1: The 1st Steps to Becoming World Class• Stages To World Class Purchasing
• How Purchasing is viewed today
• Strategic Sourcing
• Developing Spend Profiles and the ABC Analysis
• New Job Descriptions For Purchasing of the future
• Purchasing Personnel Required Skill Sets
MODULE 2: Evaluating Your Own Operation• What are Best Practices
• Purchasing Gap Analysis
• Vision and Mission for Purchasing
• Developing The Purchasing Department Strategic Plan
• Developing Key Performance Indicators (KPIs) For Procurement
• Developing A Company Purchase Price Index
MODULE 4: Supplier Management Approaches• Supplier Classification System
• Supplier Qualification Methods
• Supplier Performance Metrics
• Apply Performance criteria to Purchasing Decisions
• Process Mapping To Eliminate Low Value Activities
• Applying eProcurement business process
MODULE 5: Improving the Image of Procurement• Global Sourcing
• International Labor Rates Comparison
• Developing and Maintaining a Customer Focus
• Basic Issues In Corruption And Fraud Prevention
• Increasing The Level of Procurement Professionalism
• Keeping Current in the profession
MODULE 6: Inventory in the Value Chain• The purpose of inventory in the value chain
• Classification of inventory
• Procedure for eliminating obsolete inventory
• Pareto Law in identifying product Classification
• Location of inventory
• Using Economic Order Quantity on managing inventory order levels
MODULE 7: Demand Planning• Basic forecasting methods
• Customer segmentation
• Hierarchy of planning
• Aggregate planning
• Maintenance & Inventory planning meeting
• Master Scheduling
MODULE 8: Forecasting• Principles of forecasting
• Effect of lead time on the forecasting process
• Quantitative forecasting
• Qualitative forecasting
• Tracking forecast accuracy
• Determining safety stock
MODULE 9: Inventory Recording• Period stock take
• Cycle counting
• Perpetual recording
• Utilising Bar-cades to manage inventory and movements
• The use of Radio Frequency Identification (RFID) for recording inventory movement
• Inventory accounting
MODULE 10: Performance Measurement• Stock turnover rate
• Customer service
• Cost of operations
• Measuring the effectiveness of your system
• How to use the measurements
• Class exercise on selective inventory management
In our endeavour to transform leadership in Africa in the 21st Century, SID Institute has taken the responsibility of influencing leadership of public and private sectors in the continent. This we believe is our overarching mission at SID Institute; Service to Society through the development of international executive business management and leadership programs..
Sustainable Development Goals ChampionsAt SID Institute, we work with international development partners and clients from many sectors and countries to improve humanity standards of living through knowledge.
Big Data Analytics Training and ConsultancyOur training courses cover virtually all aspects of development, including Research & Data Management, Monitoring & Evaluation, Project Management, Geospatial Information Systems (GIS), Humanitarian Development, Agriculture & Food Security;Climate Change, Health and Social Care,Law & Governance,Energy & Oil, ICT for Development Technology,Team Building and Advanced Management. We also specialize in training statistical research analysis using STATA, SPSS, R, CSPro, ODK, NVIVO and ArcGIS.
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