Stratigec Cost and Value Management in Procurement
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INTRODUCTION
This Strategic Cost and Value Management in Procurement training course will have a deep dive into Total Cost of Ownership and value creation by strategic procurement, which is critical for organizations to be able to compete at the global level with sustainable profitability. It will look at how to deliver acquisition cost reduction, TCO optimization, cost avoidance, and value creation in modern organizations.
Strategic cost management is vital and increasingly important for all organizations. Competitive bidding with as many bidders as possible is the only way to help organizations buy goods or services at the lowest price such that the organizations can become more competitive than their peers. This common and traditional approach will remain a major mechanism in both private and public procurement. Still, there is a much bigger picture and scope that contributes to the competitiveness of organizations. Time-To-Market, Total Life Cycle Cost, Brand Image, Corporate Reputation, etc. will all contribute to the competitiveness of modern organizations. This training course leads the participants through the development and implementation of carefully crafted strategies for managing costs certificate while maximizing value for the more significant organizations.
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COURSE OBJECTIVES
By the end of the course, you‘ll be able to:
- Identify the major costs drivers to recommend cost control measures and strategies
- Analyse the Elements of Cost in Supplier’s Price
- Evaluate total life cycle costs or Total Cost of Ownership (TCO)
- Analyse costs within the organisation
- Create an approach to Strategic Cost management
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COURSE AUDIENCE
This course is made for
- P&L Owners
- Sales and Marketing managers
- Brand managers
- Line Managers
- Cost Engineers
- Project Managers
- Departmental Heads
- Senior Procurement Leaders
- Experienced Procurement Personnel
- Tendering & Contracts Professionals
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COURSE OUTLINE
DAY:ONE
Understanding the Value Proposition of Procurement to a Corporate
- Linking Corporate and Procurement Objectives
- World-Class Procurement Performance Benchmarking
- KPIs to Measure Procurement Performance
- Typical Procurement Organizational Structures
- Common Requisition-To-Pay and Contract Management Systems
- Private and Public Procurement Policies
DAY:TWO
Tools and Techniques in E2E Procurement Category Management
- Supply Market Analysis
- Market Approaches
- Best-Fit Contracting Strategy
- Contract Award
- Contract Performance Management
DAY:THREE
Cost Management and Value Creation
- Understanding the Financial Statements
- Applying and Interpreting Present Net Value
- Supply Chain Cost Modelling
- Total Cost of Ownership and Total Lifecycle Cost
- Porter’s Five Forces
- Value in Post Contract Award Contract Management
- Tools and Techniques in Decision Making
- Decision Trees
- Root Cause Analysis
DAY:FOUR
Selling Strategic Procurement to Stakeholders
- Create the Vision and Mission Statement
- Quantify the Tangible Benefits and Cost to Implement the Strategies
- Introduce the Organization, Process, and Systems to Realize the Strategic Procurement Benefits
- Specify the Deliverables and Milestones
- Estimate the Resources and Time Needed for Implementation
- Identify Stakeholders and Create Stakeholders Management Plan
- Create a Risks Mitigation Plan for the Project
- Prepare Communication Plan
- Influencing Skills
DAY:FIVE
Create A Deep Dive Category Strategy
- Define the Deliverables of a Deep Dive Category Strategy
- Introduction of Three Categories for Teams to Choose From
- Organizations Expectation
- Category Spend Data
- Supply Market Profiles
- Stakeholders’ Positions
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