Procurement Management

An Ultimate Guide to Procurement / Purchase Management for Managers, Engineers, Entrepreneurs and Students

What you'll learn:

• Making Buy or Build Decisions
• Supplier Evaluation
• Economic Order Quantity and Re-ordering
• Work Breakdown and Resource Calendar
• Types of Procurement Contracts
• Contract Terms and Documents
• Delivery Terms - Incoterms
• Procurement Activities and Documents
• Working Capital, WACC, Business Cycle
• Basics of Dispute Resolution
• Earned Value Management
• Risk Management

Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success.

To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement.

For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel.

What will you learn through your investment in these 6 hours of Lecture?

• Item classification

• Management Terminology.

• Build vs Buy Decisions

  
  

• Market conditions

• State of supply chain.

• Criteria for Supplier Selection

• Methods for Supplier Evaluation

  
  

• Work packages and work breakdown

• Resource breakdown and resource calendar

• Basics of Change Management

  
  

• Understand the term contract

• Types of contracting arrangements

• Impact of Project environment and Organization type.

  
  

• Various purchase documents

• Standard terms in procurement contracts

• Limitation of Liability - Delivery terms; Incoterms.

  
  

• Identifying and working with stakeholders

• Preparing for procurement and documents

• Procurement process and contract administration.

• EVM - Earned Value Management

  
  

• Basics of risk and business continuity

• Systematic approach managing risks

  
  

• Basics of Claims and Dispute Resolution

• Closing and Termination of Procurement

  
  

• Procurement Costs

• Economic Order Quantity

• SLA - Service Level Agreements

• Re-ordering - Fixed Order Interval, Fixed Order Quantity

  
  

• Working Capital

• Business Cycle

• Managing Working Capital

• 7Rs of Procurement

Also, with a quiz in each section - total of 8 Quizzes