Procurement strategy is a planned approach of cost-effectively purchasing a company’s required supplies, taking into consideration several elements and factors such as the timeline for procurement, the funding and budget, the projected risks and opportunities, among others.
The strategy competence includes: Understand how to develop a vision for the procurement team and the mission to deliver sustainable value. How to translate that vision into a departmental strategy. How to segment a supply base. How to manage supplier relationships (SRM). How to perform Insourcing/Outsourcing.
Following are the eLearning courses for Strategy –
Vision, Mission and Strategy
|This course is aimed mostly at junior procurement personnel. It is meant to achieve the awareness level in the Strategy competence.|
The course drives home the need to align procurement personnel’s activities with your organisation’s vision, mission and strategy. It does not proscribe a specific vision, mission or strategy. It defines vision, mission, strategy and objectives. It shows how all are linked.
Corporate Fraud Prevention
|Defines corporate fraud, and why people commit fraud.|
Provides warning signs to look for.
Provides actions all employees can take to prevent corporate fraud.
Supplier Relationship Management (SRM), Part I
|What is SRM?|
The process to run SRM is explained.
Supplier segmentation: on the complete supply base or on a category supply base.
Select the strategic suppliers as they have the greatest potential to contribute to the business strategy.
Supplier Relationship Management (SRM), Part II
|Relationship analysis, the tools: portfolio analysis, supplier preferences analysis and the combined relationship matrix.|
Evaluation and lessons learned review.
Sustainability Part I
|See the specific steps involved in improving sustainability in your supply chain.|
Respect for human rights, labour standards, health and safety, environmental impact, and business ethics are becoming ever more important in today’s business climate.
Standards in these areas are ever increasing.
This course, together with Part 2 provides a step-by-step guide to implementing a sustainability program, and linking it to everyday business activities.
Sustainability Part II
|Part 2 of 2 details the remaining steps in implementing a sustainability program.|
It covers how to conduct a supplier evaluation in practical detail.
At the end of the course, learners will be able to use supplier questionnaires, site visits, and will know when to use third party audits to ensure suppliers are conducting business in a sustainable way.
Learners will know that the objective is to help suppliers improve in addition to limiting their own risk, and will be taken through a detailed example of such work.
|12 ways procurement can improve the value they are getting from their category.|
It looks at both factors that influence value: utility and cost.