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Onsite Seminar

Strategic Supply Management

Best Practices in Procurement

How does your organization compare with industry best practices? Learn from world-class organizations that have set the standards and find out how you can enhance your overall value and performance.

Who Should Attend

Purchasing and supply management professionals and others interested in examining best practices in the procurement. Those who want to evaluate where their organization stands in the marketplace and seek strategies for improvement.

You Will Learn
  • How your organization compares with best practices in procurement and in creating cost controls to directly affect shareholder value
  • What methods are used in planning and forecasting, how to determine cost of capital and economic profit and how to present purchasing savings
  • How to use technology in the purchasing workflow
  • How to manage and control the process and requirements in handling political and legal issues associated with e-commerce
  • How to analyze and evaluate supplier performance
  • How to benchmark and negotiate
Course Outline
  1. World-class procurement: World-class defined; Procurement's position in the organization; Methods used in dynamic planning, forecasting and budgeting; Determining the cost of capital and economic profit; Procurement's role in delivering shareholder value; Presenting purchasing savings and performance; Modeling use in procurement processes
  2. Best practices in procurement systems: Out of paper and into purchasing; Purchasing workflow; Current computer technology; Information databases required; Controls and audit trails; Requisitions, solicitations and purchase orders; Receiving and payment
  3. Best practices in e-commerce: Item master control and coordination; Information encyclopedia; B2B, B2C, B2E incorporated in the three flow processes; Supply chain management, coordination and control; Encryption procession and uses; Political problems; Legal considerations and security; Audit and control requirements; Digital signatures as a key to electronic commerce
  4. Best practices in supplier management: Supplier analysis using cash-flow statements; Supplier certification and performance evaluation
  5. Best practices in operations and negotiations: Benchmarking; Uses of benchmarking; Focus and allocation of time; Negotiations; Maintaining best practices in the future