Fundamentals of Purchasing and Vendor Management training centre in Bangladesh

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Fundamentals of Purchasing and Vendor Management

Introduction

The fundamental goal of the Purchasing or Procurement function is to acquire optimum quality and quantity of goods and services for the company in a timely manner, and at the lowest total cost. This also means that procurement is not over when the item is delivered to the site by the supplier. Additional items or services may be needed in future along with the necessary parts, information, guidelines or even training. These all should be facilitated by the purchasing or procurement function.

Traditionally it was thought that competitive advantage was the result of marketing and advertisement expenses and resultantly purchasing was not given due importance. Even in the recent past, purchasing was regarded as being services to production and other functions of the company and thus it was given limited attention to issues concerned in the procurement. But in today`s competitive business world, these traditional approaches can no longer guarantee competitive advantage in all cases. Companies, therefore, have to find other means of succeeding. This is nothing but succeeding through effective utilization of purchasing or procurement processes.

Typically, a company normally spends about 60-70% of revenues through purchasing or procurement, and if this spending is managed efficiently and effectively, company can enhance its competitive advantage significantly. Any savings in purchasing or procurement directly contribute to the company`s bottom line i.e. profit of the company.

On the other hand, Vendor Management allows you to build a relationship with your suppliers and service providers that will strengthen both businesses. Vendor management is not negotiating the lowest price possible. Vendor management is constantly working with your vendors to come to agreements that will mutually benefit both companies.

Today you need to reduce your company`s costs, improve your customer service quality, and increase the synchronization of activities throughout your supply chain. You need to look for cost benchmarking tools that can identify opportunities to generate savings in your procurement, transportation, warehousing, and other relevant operations. You must optimize supply chain management, freight transportation, logistics services and vendor management.

Businesses and professionals involved in the field of purchasing, procurement, transportation, logistics, and supply chain management, import, export and manufacturing and any other areas of business can grab this opportunity by acquiring proper knowledge through learning and training on Fundamental of Purchasing and Vendor Management.

Methodology

Interactive Lecture
PowerPoint Presentation
Group Discussion

Contents of Training:

Day 01:
Introduction to Program & Learning Objective
Procurement and its Evolution of Strategy
Overview of Purchasing Process
Specification of Purchasing Requirement
Types of Purchases
Information about Supplier and Supply Market
Identify and select Suppliers

Select areas of Supply and its Strategy
ABC Analysis
Supply Positioning Model
Negotiating and Bidding Process
Negotiating through Cost Analysis
BATNA and other elements of Negotiating
Price and Acquisition Cost

Total Cost of Ownership
Make or Buy Decision
Purchasing Contract
Managing the Contract
Procurement Savings

Value Analysis/Value Engineering
Tendering Process
Learning Check
Question & Answer Session
Summarize and Wrap up of the day

Introduction to Program & Learning Objective
Demand Management
Group Purchasing
Strategic Souring
Supply Chain Management
Inventory Introduction
Inventory Replenishment

Lead-time Management
Outsourcing
Material Purchase: Profit Leverage
Working Capital Cycle (or order- to- cash received cycle)
Incoterms 2010
Various Payment Method and L/C

What is Vendor Management
Benefits of Vendor Management System
Vendor Management: Making It A Win-Win

Evaluating Vendor Performance
Various method of Vendor Performance

Vendor/supplier capability and motivation
Supplier Relationship Management
Case Studies
Glossary
Question-Answer Session
Summarize and Wrap up of the session

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Businesses and professionals involved in the field of purchasing, procurement, transportation, logistics, and supply chain management, import, export and manufacturing and any other areas of business.
Arrangement for Certificate, lunch and two tea-break would be made by the Organizer during the workshop.



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