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Training course overview
This Coventry Academy online training course leads delegates through the development and implementation of carefully crafted strategies for the acquisition of all goods, parts, equipment, and services to reduce operating cost while improving quality and productivity. With the growing importance of supply-chain management, purchasing has assumed an increasingly pivotal strategic role, evolving from an obscure buying function into a strategic business thinking. Intense competitive pressures have forced companies to reexamine their approach to managing suppliers and their supply base. Purchasing is thus increasingly regarded as a strategic tool, centered on its ability to create collaborative relationships for firm advantage. The ability to extract benefits from supplier relationships is linked to the way these relationships are managed. Thus, it is not enough for a firm to possess a strategic purchasing orientation, they must also create conditions which allow the buyer and supplier to contribute and develop the relationship. Various supply management practices facilitate this process.
What are the goals?
By the end of this Coventry Academy online training course delegates will be able to:
- Set Strategies for Procurement
- Build a Distinctive Capability in Strategic Purchasing
- Evaluate Purchasing Key Liaison Role Between External Suppliers and Internal Organizational Customers
- Improve Profitability by Controlling Total Costs
- Examine Sustainable Competitive Advantage by Enabling a Firm to Build and Leverage Beneficial Inter-Organizational Relationships
Who is this training course for?
This Coventry Academy online training course is suitable to a wide range of professionals, but will greatly benefit:
- Purchasing, Procurement, Contracts, Contract Administration, Projects Personnel
- All Others Who are Involved in the Planning, Evaluation, Preparation and Management of Purchasing and Contracts that Cover the Acquisition of Materials, Parts, Equipment, and Services and Who Are in Organizations Whose Leadership Want High Levels of Excellence in Those Involved in These Activities
Course Outline
Day One: Setting the Strategic Direction
- Defining the supply management mission and vision
- Stages to world class Supply Management
- Becoming more strategic in procurement
- Supply Management skill sets
- Developing the Spend analysis
- The ABC (Pareto) analysis
Day Two: How do you know that you got a Good Price?
- Supplier Pricing models
- Defining Cost and Price analysis
- Methods of Price analysis
- Working with Producer Price Indexes
- Developing the Organization’s purchase price index
- Estimating Cost in relationships
Day Three: Getting a Better Price by Analysing Cost
- Methods of Cost analysis
- Major elements of Cost
- What and how important are Supplier overheads
- Sources of cost information
- Analysing Supplier cost breakdowns
Day Four: Using Price, Volume, International Labour and Value Analysis
- Global Industrial Labour Rates
- Working with Currency Exchange Rates
- Cost Volume Profit Analysis
- Fixed and Variable Costs Defined
- Defining Value Analysis
- Checking Supplier Value
Day Five: Total Cost of Ownership (TCO)
- Changing Supply Management
- Defining TCO
- Barriers to TCO
- Approaches to TCO
- Total Cost Modelling of the Supply Chain
- Implementing TCO
The certificate
*Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course