Introduction to Procurement
Course Overview
Procurement is a vital function in any organization, responsible for acquiring goods and services efficiently and cost-effectively. This course introduces participants to the fundamentals of procurement, covering the procurement lifecycle, key principles, and best practices to support organizational goals.
Course Objectives
By the end of this course, participants will be able to:
- Understand the role and importance of procurement in organizations
- Identify key stages in the procurement process
- Apply procurement methods and sourcing strategies
- Recognize supplier evaluation and selection criteria
- Understand contract basics and supplier relationship management
- Ensure compliance with procurement policies and ethical standards
Who Should Attend?
- New procurement professionals and buyers
- Project managers involved in purchasing decisions
- Administrative staff supporting procurement activities
- Anyone interested in understanding procurement basics
Course Content
- Introduction to Procurement
- Definition and purpose of procurement
- Procurement’s role within organizational functions
- Types of procurement: direct, indirect, services
- Procurement Process Overview
- Key stages: need identification, sourcing, evaluation, ordering, delivery, and payment
- Purchase requisitions and purchase orders
- Sourcing Strategies and Methods
- Supplier identification and market research
- Competitive bidding, negotiation, and contracting
- Single vs. multiple sourcing
- Supplier Evaluation and Selection
- Criteria for supplier assessment: quality, price, reliability, capacity
- Supplier audits and performance monitoring
- Contract Management Basics
- Types of procurement contracts
- Key contract terms and conditions
- Managing supplier relationships and resolving disputes
- Procurement Compliance and Ethics
- Procurement policies and regulations
- Ethical considerations and anti-corruption practices
- Risk management in procurement
- Practical Exercises
- Case studies on supplier selection
- Role plays on negotiation and contract discussions
- Group discussions on procurement challenges