Procurement Management

About Procurement Management

Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success. To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement. For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel.

What will you learn through your investment in these 6 hours of Lecture?

Item classification

Management Terminology.

Build vs Buy Decisions

Market conditions

State of supply chain.

Criteria for Supplier Selection

Methods for Supplier Evaluation

Work packages and work breakdown

Resource breakdown and resource calendar

Basics of Change Management

Understand the term contract

Types of contracting arrangements

Impact of Project environment and Organization type.

Various purchase documents

Standard terms in procurement contracts

Limitation of Liability - Delivery terms; Incoterms.

Identifying and working with stakeholders

Preparing for procurement and documents

Procurement process and contract administration.

EVM - Earned Value Management

Basics of risk and business continuity

Systematic approach managing risks

Basics of Claims and Dispute Resolution

Closing and Termination of Procurement

Procurement Costs

Economic Order Quantity

SLA - Service Level Agreements

Re-ordering - Fixed Order Interval, Fixed Order Quantity

Working Capital

Business Cycle

Managing Working Capital

7Rs of Procurement Also, with a quiz in each section -

total of 8 Quizzes