Types Of Contracts, Procurement Mechanism, And Their Impact On The Budget
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COURSE DATES AND LOCATIONS
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INTRODUCTION
Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process
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COURSE OBJECTIVES
At the end of this course you will be able to:
- Apply and gain a compressive knowledge on Procurement and Contracts Management.
- Fundamental concept & effectiveness of procurement process in a commercial environment.
- Understand the value addition of procurement to business.
- Development of procurement strategies, improved working relationships with contractors and suppliers.
- Understand the process of contracts.
- Role of contracts in adding value & security to the business.
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COURSE AUDIENCE
This course is made for
- This course is intended for Project Managers, Operational Managers, Team Leaders, Persons who support a company’s insurance purchasing function, Persons who support a company’s risk management program, Persons who serve in a supplier contracting position, and persons in an auditing, financing or procurement role.
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COURSE OUTLINE
DAY 1
Registration & Coffee
Welcome & Introduction
Purchasing & Types of Purchasing
Purchasing through the years, Purchasing Cycle, Preparation of Purchase Specifications (Enquiry Stage, Purchase Order Stage), RFP, RFQ and Types of Supplier Relationship in Purchasing.)
Concept of Procurement.
Role of Shipping & Freight Forwarding in Procurement Management.
DAY 2
Training Recapitulation for Day One
Strategic Procurement
Two (2) Bin system, Outsourcing, Methodologies of Outsourcing, Global Sourcing
JIT system, Inventory Management, EOQ, DOQ, VMI(Vendor Managed Inventory)
Supplier Selection & Evaluation
DAY 3
Training Recapitulation for Day Two
LOI, MOU’s, Contract Philosophy, Types of Contracts, Objectives of Contract
Components of a Contract, Contract Law.
Importance of Standard Legal Terms & Conditions in Purchase Orders/Contracts
Standard terms & Conditions of Purchase Order
DAY 4
Training Recapitulation for Day Three
Legal Vetting of Contracts
Bid Analysis & Contract Development
Contract Renewal or Extension
Approval of Contracts
DAY 5
Training Recapitulation for Day Four
Creating an Effective Statement of Work
Role of Arbitration & Mediation in Contracts
Breach of Contracts
Review of Contract Types and their Impact on your Organization
Training Summary
Giving of Training Certificate Completion
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