The Effective Buyer

Effective Purchasing, Supplier Selection & Contract Preparation

Introduction

Effective buyers should understand how to bring about change. They must understand the impact and value they can make by having a deep understanding of how to capture the real requirements of the business; select those suppliers who are a strategic match through a robust qualification and tender process; and negotiate and prepare viable and sustainable supply contracts that add real and tangible value.

By attending this bespoke, LAKESHORE ISL Effective Buyer training course, participants will develop a thorough understanding of the need to initiate processes, systems and best practice procedures to make sure that effective purchasing does not only concentrate on cost reductions; rather it focuses on supplier collaboration and the absolute requirement to enter into a contract that is deemed innovative, sustainable and will deliver efficiencies and cost saving initiatives throughout the life cycle of the contract.

This LAKESHORE ISL training course will feature:

  • The Importance and relevance of Effective Purchasing
  • Preparation of the Scope of Work and Specifications
  • The Tender Process
  • Selecting the Right Suppliers
  • Forming a Contract and its Essential Elements
  • Supplier Management throughout the Contract Lifecycle

Objectives

By the end of this LAKESHORE ISL training course, participants will be able to:

  • Achieve Operational Efficiency in Purchasing
  • Select and Managing Suppliers
  • Develop a Balanced Performance Measurement Framework that is value driven
  • Evaluate Suppliers – developing key measures for a total cost and value approach
  • Understand the Stages of Effective Contract and Supplier Management

Training Methodology

Dynamic, interactive and totally participant focused, this LAKESHORE ISL The Effective Buyer training course will be delivered by a world class subject matter expert; whose knowledge and skills have been honed over many years working in the field of procurement and contract management. Using the most up to date learning practices, current material and actual case studies, the participants will be taken on a journey of discovery by understanding the real need to develop the right processes and systems for their organization.

Organisational Impact

The organization will benefit by having trained personnel who can understand and implement:

  • Procurement Spend Analysis
  • RFIs, RFQs, RFPs, ITTs, and Framework Agreements
  • Stakeholder Engagement
  • Decision Analysis
  • Effective Tendering and Evaluating responses
  • The Contract Award Process

Personal Impact

Delegates attending this LAKESHORE ISL training seminar will learn and benefit by:

  • Understand the role and Objectives of procurement within the organization
  • Understand whole life costing
  • Defining the differences between scope statements, scope of work and statement of work
  • Developing a supplier engagement strategy
  • Understand collaborative and effective specification development
  • Defining the essential elements of forming a legal contract

Who Should Attend?

This LAKESHORE ISL training course is suitable to a wide range of professionals but will greatly benefit:

  • Contracts, Procurement, Purchasing, and Project personnel
  • New Buyers or those appointed to the role in the past two or three years
  • Managers responsible for buying departments who wish to understand the roles and activities of their team
  • Staff responsible for Supply Chain Performance
  • Engineering, Operational, Quality, and Maintenance personnel
  • And all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts, and services or anyone who wants to improve supplier performance

Seminar Outline

DAY 1

The Procurement Process and the Financial Impact on its Outcomes

  • The Importance of Effective Purchasing
  • Understanding the Procurement Strategy
  • The Five Steps of the Procurement Process
  • Implementing Strategies for Cost-effective Purchasing and Procurement
  • Strategic Cost Management as opposed to Ad-hoc Cost Reduction
  • Measuring the Impact of Cost Management initiatives on Profitability

DAY 2

The Critical Elements of the Statement of Work, Scope and Specifications

  • Capturing the Real Requirement of the End Users
  • What a Good Specification for goods and services looks like?
  • Defining Needs and Wants – Essential vs. ‘nice to have’
  • Who Needs to Develop and Contribute to the Specification?
  • Important Questions to ask When Developing a Specification
  • Understand the Total Cost of Ownership in Relationship to the Actual Requirements

DAY 3

Supplier Selection and Developing Robust Criteria for Supplier Evaluation

  • Creating a Supplier Development Plan
  • Developing the Criteria for Pre-Qualification
  • Selecting Suppliers – A Balanced Judgment
  • Using Carter’s 10 C’s as a Tool for Selection
  • Price and Long Term Cost Considerations
  • Analyzing Cost vs. Value

DAY 4

Developing the Relevant Tender Process and Awarding the Contract to the Most Suitable Supplier

  • Determining the Key Principles Underpinning all Tendering and Procurement
  • The Competitive Bidding Process
  • Understanding the Full Tender Process from Notice to Award
  • Evidencing Capability, Reliability and Quality
  • Qualitative and Quantitative Assessment, Review and Continual Improvement
  • Negotiating the Deal

DAY 5

Fundamentals of Contract Management

  • The Importance of Contract Management
  • Principles and Concepts around Contract Management
  • The Contract Management Process
  • Contractual Risk – How it is created?
  • Critical Success Factors for Effective Contract Delivery
  • Managing Contract Performance