STRATEGIC PROCUREMENT AND INVENTORY MANAGEMENT SYSTEM WITH INTRODUCTION TO CONTRACT MANAGEMENT

• UNDERSTAND the key elements of strategic sourcing to ensure effective sourcing
• UNDERSTAND the key differences on the different types of tendering system
• DIFFERENTIATE the main different between traditional sourcing and tendering
• IDENTIFY The type of strategy to be in place to manage the procurement and inventory operation
• UNDERSTAND the effective method of cost saving
• DEVELOP action plan to implement supplies management strategies
• CARRY OUT risk assessment of suppliers during selection and supplies to prevent issue of non supplies and other issue from occurring
• UNDERSTAND key issue in procurement contract management system
• UNDERSTAND the key principle and concept of inventory management and take step to overcome any issue in supplies disruption

COURSE CONTENT

Module 1 – The Role of Procurement & Purchasing

• Definition of Purchasing versus Procurement
• Role  and Job function of Purchasing versus Procurement
• Cycle of Procurement
• Key Fundamental of Effective and Efficient Procurement

Module 2 – Strategic and Tactical Objective and Goal of Procurement

• Definition of Strategic versus Tactical
• The Ps , Q, and Rs of Procurement
• Key Objectives of Procurement and Purchasing
• Strategic and Tactical role of Procurement

Module 3 – Supplier Sourcing, Management and Cost Evaluation

• Strategic Sourcing Strategy and the different level of sourcin
• Competitiveness Model for Strategic Procurement system
• Value Chain creation in procurement
• Supplier Quality Management
• Supplier Relationship Management
• Supplier Performance Management
• Supplier Management Process Cycle
• Cause and Effect Technique (5 Why and 1 How) for problem evaluation
• Strategic Cost Evaluation with Should Costing
• Strategic Cost Analysis for best pricing
• Price Analysis versus Cost Analysis
• Supplier Segmentation Management
• Breakout room discussion

Module 4 – Preventing Procurement disruption – Third Party Risk Management

• Definition of 3rd party risk management
• Cycle of 3rd party risk management
• 1st, 2nd and 3rd Tier suppliers
• Securing supplies with 10 C selection and evaluation
• Conducting audit and key areas of audits

Module 5 – Cost Reduction and Cost Avoidance

• Cost Reduction versus Cost Avoidance
• Area of Cost Reduction and Cost Avoidance
• Key Factors to consider in Cost Reduction
• Dynamic discounting
• ERRANT cost reduction and avoidance strategy
• Break out room discussion

Module 6 – Inventory Management System

• Type of Inventory
• Principal of Inventory Management
• Best Practices of Inventory Management
• Cycle Counting
• Pareto Analysis
• Lean Inventory Management

Module 7 – Introduction to Procurement Contract

• Purpose of contract
• Life Cycle of contract
• Dispute clause
• Liability of each party
• Ethics of supply chain
• Termination and extension
• Law on contract in Malaysia (Sales of Good Act Malaysia)
• Cost plus contract versus Fixed Cost Contract
• Incoterms rule of delivery