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A highly interactive training
The Complete Course on Contracts & Purchasing Management
Training course overview
This intensive 10-day training course is designed to help contracts and procurement professionals navigate the growing complexity of commercial and business relationships. It is essential for business professionals to grasp how contracts allocate risk among parties and understand the implications of failing to manage those risks effectively.
Modern organizations require procurement improvements to achieve their strategic objectives. This course advocates for best practices in procurement, focusing on compliance, creativity, and supply market knowledge. It also emphasizes measuring the contributions of purchasing and contract management to ensure these functions are recognized as core competencies.
This Coventry Academy training course will feature:
- Understanding How Contracts Control Business Relationships
- Risk Allocation in Contract Management and Protecting Company Interests
- Insights into International Contracting in English
- Selection and Application of Contract Management and Procurement Strategies
- Managing Suppliers to Achieve Best-in-Class Results
What are the goals?
By the end of this training course, participants will be able to:
- Improve Their Understanding of the Role of Contracts Within a Business
- Develop More Confidence in Dealing with Contracting Issues
- Understand How Purchasing & Contract Strategies Can Be Developed to Improve Commercial Outcomes
- Learn How to Develop High Performance Purchasing Organisations
- Will Show Analytics For Use to Guide Procurement and Contract Strategies
Who is this training course for?
This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit:
- Procurement and Contracts Personnel
- Engineering, Facilities, Finance, and Maintenance Personnel
- Personnel Involved in the Planning and Management of Tender Process
- Contract Administrators, Contract Professionals and Project Coordinators
- Specifiers, Buyers, Purchasing Professionals and Procurement Officers
- Contracts Managers and Project Managers
How will this training course be presented?
This training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The training course is highly interactive and includes high levels of participant discussion, group interaction, delegate group exercises and case studies. Materials include existing contemporary English language contracts in many jurisdictions. Delegates will be encouraged to raise their own issues and problems faced within their industry or organisations for discussion on a confidential basis.
Course Outline
Module 1The Complete Course on Contracts Management
Day One: What Are Contracts and How Are They Created?
- The Need For Contractual Relationships
- What is Needed to Create a Valid Contract? Ingredients and Formalities
- Authority and Agency
- The Tender Process
- Alternative Sourcing
- Making Contracts Enforceable - With Particular Emphasis on the International Context
Day Two: The Structure of Contracts
- Form of Agreement
- Hierarchy of Terms and Conditions
- Different Contractual Structures (Traditional and New)
- Risk and Title (Ownership) in International Trade. When Does it Transfer?
- Notices and Other Formalities
- Which Law and Which Courts?
Day Three: Collateral Documents
- Securitising Performance Obligations
- Bonds and Guarantees
- Parent Company Guarantees
- Letters of Intent, Comfort or Awareness
- Insurance Policies
- Assessing the Need for Financial Security
Day Four: Change and Variation
- Changes to Contract Documents
- Assignment / Novation Explained and Distinguished
- Variation Clauses and Changes to the Scope of Work
- Claims - What They Are, and How They Arise
- Delay and Disruption
- Force Majeure
Day Five: Resolving Disputes
- Conflict Avoidance and Tiered Dispute Resolution Clauses
- Negotiation
- Litigation
- Arbitration
- Mediation, ENE and New Best Practices in Dispute Resolution and Management
- Final Questions and Review of Course
Module 2The Complete Course on Purchasing Management
Day Six: 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
Day Seven: 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
Day Eight: Continuous Improvement and How to Get It
- Cost Reduction Initiatives
- Methods of Cost Containment
- Waste In The Supply Chain
- Breaking Down The Elements Of Supplier Cost
- Commodity / Service Strategic Planning
- Resisting Price Increases
Day Nine: 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 e-Procurement business process
Day Ten: 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
The certificate
- Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course
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