Junior Procurement Management Course

In the first module of this course, you’ll explore the fundamental principles of procurement.

You’ll understand the importance of following a well-defined procurement process with seven essential steps. Discover the key elements of sourcing methodology, learn to analyze purchasing situations, assess internal processes, and conduct financial, contract, market, and portfolio analyses. Lastly, determine a sourcing strategy tailored to your organization’s needs.

By the end of this module, you’ll have the foundational knowledge and practical insights to excel in procurement management.

What you will learn:

1. Introduction to Procurement,
2. Organization & Sourcing
3. Perfect Procurement Process in 7 Steps: The Importance
4. The 6 Important Elements of Sourcing Methodology
5. Setting up your Sourcing Methodology
6. Analyzing the Current Purchasing Situation
7. Analyzing the Internal Process
8. Financial Analysis
9. Contract Analysis
10. Market Analysis
11. Portfolio Analysis
12. Determining Your Sourcing Strategy

This module includes:

• Extra reading material
• 11 video lessons
• 2 Powerpoint templates

Download the syllabus to learn all about this course.

In the second module, we will explore the procurement process, guiding you through each step.

You’ll learn how to conduct market research, create specifications for suppliers, initiate the Request for Information (RFI) process, select the right suppliers, craft a Request for Proposal (RFP), evaluate offers, and optimize your procurement processes using RFI and RFP planners.

By the end of this module, you’ll have the skills to navigate the procurement process effectively and achieve successful outcomes.

What you will learn:

1. Market Research
2. Specifications: Informing Your Supplier
3. Request For Information
4. Supplier Selection
5. Making a Request For Proposal
6. How to Evaluate Offers
7. The RFI & RFP Planner: Process Guidance
8. Wrap Up

This module includes:

• Extra reading material
• 8 video lessons
• 1 Powerpoint template

Download the syllabus to learn all about this course.

In the third module, we will focus on the negotiation process and equip you with the essential skills to excel in procurement negotiations. Starting with an introduction to the negotiation process, you’ll gain a solid understanding of its significance in procurement.

We’ll cover the key steps in preparing for negotiation, including determining your negotiation strategy and exploring various negotiation styles. You’ll also learn about important concepts such as the Breakpoint and Zone of Possible Agreement (ZOPA) to facilitate successful negotiations. We’ll delve into acquiring power in negotiation and discuss best tactics to employ. Additionally, we’ll highlight common negotiation mistakes to avoid.

By the end of this module, you’ll have the knowledge and practical tools to navigate procurement negotiations with confidence and achieve mutually beneficial agreements.

What you will learn:

1. Introduction to The Negotiation Process
2. Preparing For Negotiation
3. Determining Your Negotiation Strategy
4. Negotiation Styles
5. Breakpoint & Zone of Possible Agreement (ZOPA)
6. Acquiring Power in Negotiation
7. Best Tactics in Negotiation
8. Negotiation Mistakes to Avoid
9. Closing the Deal
10. Wrap Up

This module includes:

• Extra reading material
• 10 video lessons

Download the syllabus to learn all about this course.

In the fourth module, we will explore the crucial aspects of contract management and equip you with the necessary skills to effectively handle contracts.

We’ll start with an introduction to contract management and its significance in procurement. You’ll learn how to set up a contract after closing a deal, ensuring all important components are included to safeguard the interests of both parties. We’ll then cover the process of contract awarding, completion, and implementation, ensuring that contracts are executed smoothly. Additionally, you’ll discover various contract management tools that can streamline and enhance your contract management processes.

By the end of this module, you’ll have the knowledge and practical insights to effectively manage contracts, mitigate risks, and optimize outcomes in procurement.

What you will learn:

1. Introduction to Contract Management
2. How to Set Up a Contract After Closing a Deal
3. Contract Awarding: Completion and Implementation
4. Contract Management Tools
5. Wrap Up

This module includes:

• Extra reading material
• 5 video lessons

Download the syllabus to learn all about this course.

In the fifth module, we’ll explore supplier relationship management (SRM) and equip you with the skills to foster effective supplier relationships.

Topics covered include establishing SRM KPIs, supplier collaboration, using supplier scorecards, managing supplier risks, essential soft skills for SRM, and utilizing SRM tools.

By the end of this module, you’ll have the knowledge to build and maintain strong supplier relationships for successful procurement outcomes.

What you will learn:

1. Establishing SRM KPIs
2. Supplier Collaboration
3. Supplier Scorecard
4. Supplier Risk Management
5. Important Soft Skills For SRM
6. Supplier Relationship Management Tools
7. Wrap-Up

This module includes:

• Extra reading material
• 7 video lessons

Download the syllabus to learn all about this course.