Course Objectives
Procurement Planning and Bid Management - Virtual Learning
Course Objectives
By the end of the course, participants will be able to:
Write strategic procurement objectives and initiatives to support long term directions
Arrange 'spend items' into categories that support planning of go-to-market strategies
Apply demand forecasting techniques to improve planning of procurement activities
Generate vendor integration strategies to ensure supply security
Evaluate vendor bids in a scientific manner to support selection decision making
Target Audience
Purchasing and supply chain professionals at all levels of the organization who are involved in planning, sourcing, buying and bid selection activities, as well as personnel who are involved in the purchasing process.
Target Competencies
Procurement planning
Business analysis
Structured thinking
Business forecasting
Inventory planning
Performance evaluation
Course Outline
Strategic procurement planningSetting procurement mission and objectivesSelection of improvement initiativesStructure-related initiativesSystems-related initiativesWorkstreams-related initiativesCulture-related initiativesPerformance measures and targetsCommunication of procurement planStakeholder engagement
Spend category planningSpend category profilingSpend impact analysisFinancial impactVendor segmentationMarket risk analysisValue chain analysisSWOT analysisPorter’s five forcesRisk heat mapsVendor risk scoresCategory report consolidation
Forecasting and demand planningThe soft side of forecastingTetlock’s foxes and hedgehogsTaleb’s black swanPrinciples of demand planningQuantitative forecasting techniquesQualitative forecasting techniques
Vendor integrationVendor prequalification processVendor prequalification criteriaLegal criteriaFinancial criteriaTechnical criteriaStaff criteriaHSE criteriaService Level Agreements (SLAs)Strategic partneringSupplier diversity programs
Bid evaluation and selectionBid management processBid evaluation criteriaScoring systems and protocolsSelection and awardTotal Cost of Ownership (TCO) for complex purchases