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:
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
A Coventry Academy e-Certificate will be provided to delegates who attend and complete the online training course