Understanding the Procurement Management Principles

The development and implementation of carefully crafted strategies for the acquisition of all goods, equipment, and services has become a critical issue in all organizations wishing to reduce operating cost while improving quality and productivity.  This workshop explores key concepts forming the basis of strategic procurement and more through leading edge issue that confront the purchasing organization today.

General Principles of Procurement

· The role of purchasing

· Stages of the purchasing process

· The impact of e- purchasing and internal relationships

· Communications

Financial Analysis

· Management of working capital

· Cash flow forecasting

· Capital expenditure and revenue expenditure

· The danger of overtrading

Legal Aspects of Purchasing

· Contract and sale of goods law

· Sources of purchasing law

· Law applicable to purchasing

· Overview of other significant laws and legislations

Negotiation

· The negotiation process

· Successful behaviors

· Selected strategies and tactics

· Role plays to develop skills

Exploring and Developing Terms and Conditions

· The form and structure of contracts

· Performance incentive clauses

· Risk allocation clauses

· Specimen contractual terms.

For Whom:Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.