Procurement Specialist: Best Practices for Retail Industry

Procurement is one of the most important functions for successful organisations. The Procurement has gained superior strategic importance in multinational companies in recent years. Indeed, procurement is a crucial function within any business and plays a vital part in adding value to the bottom line for the success of a business. Selecting and applying the appropriate methodologies to ensure value for money, and high-quality delivery by suppliers requires competent skills for procurement professionals.

This course is designed to help procurement professionals - spicially in retail industry - gain the competencies required to excel in today’s business environment. This course focuses on the common “gaps” in the performance of the procurement that must be filled to provide the continuous improvements needed for the organizations to meet their strategic objectives. This course will help participants to learn how to ensure the security of supply, generating savings and satisfying internal customers.

By attending this Procurement Specialist training course, delegates will be able to:

• Understand the role of Procurement and its contribution to achieving organisational objectives
• Understand International Best Practices and influence of the External Environment in Procurement
• Evaluate internal spend and supply market dynamics to formulate strategic sourcing plan
• Application of different sourcing strategies to leverage savings and ensure supply security
• Management of supplier and market associated risks to protect the interest of the organisation
• Demonstrate knowledge and understanding of the procurement processes for better value
• Implementation of operational and strategic procurement processes streamline procurement operations
• Applications of purchasing tools and templates to foster operational efficiency
• Supplier selection, integration Management to achieve an optimum balance between material cost price and quality
• Develop skills required for effective supplier relationships to achieve enhanced value
• Plan, prepare and apply effective negotiations and evaluate their effectiveness
• Manage Performance Measurement, Evaluation, and Quality Management
• Manage performance of procurement processes for continuous improvement

• Procurement Specialist
• Contracting Officers and Specialists
• Procurement Professionals
• Contract and Procurement Managers
• Buyers
• Commodity Procurement Specialists

Role of Procurement & Contribution Overview

• Purchasing and its contribution to the organization
• Mission and Vision of Procurement
• International Best Practices in Procurement
• The influence of the External Environment in Procurement
• Developing a World class procurement strategy
• The Procurement Cycle – Process Overview

Setting the Strategic Sourcing Methodology

• Spend Category Analysis & Strategy
  • Profiling spend categories
  • Assessing market risks
  • Analyzing financial impact
  • Mapping spend categories (Routine, Bottleneck and Strategic Items)
  • Consolidating category reports
• Segmentation and analysis of suppliers
  • Supplier Analysis & Strategy
  • Mapping supplier profiling (by location, value, volume & strategic alliance)
  • Formulate supplier diversity plan
• Implementation of Strategic Outcome

Development of Procurement Processes and Implementation

• Develop procurement processes
  • Mapping of procurement processes
  • Define strategic and operational processes
  • Procurement Guideline and Internal Controls
  • Integrating ethical principles
• Implement procurement processes
  • Managing RFI, RFQ and RFP processes
  • Application of bid evaluation criteria
  • Working with Stakeholders in Procurement
  • Implementing Contract Management Process
  • Using procurement decision matrix (by value and ordering channel)
  • Employing purchasing tools and templates
  • Applying Total Cost of Ownership (TCO)

Supplier Integration and Management

• Supplier Prequalification
• Supplier Rating and Ranking
• Identifying and Mitigating Risk
• Partnering with suppliers
• Building good relationships with suppliers
• Negotiating Principles and Strategies
• Managing Supplier Level Agreements (SLAs)
• Define supplier base optimization
• Applying eProcurement business process

Performance Management and Continues Improvement

• Supplier Performance Measurement and Evaluation
• Quality Management for Strategic Sourcing
• Pursuing Global Supply Management Excellence
• Continues Optimisation of Small Value Purchase Orders
• Cost Reduction Initiatives
• Developing Procurement Key Performance Indicators (KPIs)
• Action Planning for implementation

This course will be presented using a combination of lectures, practical/hands-on approach such as role plays, case studies, presentation, and video. Practical cases and examples illustrate the variety of current practices and build individual capabilities. There will be ample time for Q&A, discussions with ‘return to work’ action planning. The program will reinforce key concepts within an inspiring and engaging learning environment.