19480 Courses delivered Online

This course will provide the key to successful inventory management, by combining practical inventory control techniques with sound procurement practice, to produce a solid foundation to enable your supply chain to meet customer expectations at the lowest possible cost. PARTICIPANTS WILL LEARN HOW TO: • Understand the role of inventory in an effective supply chain. • Understand categories of stock and how to tailor stockholdings. • Learn how to utilize key concepts, variables and metrics that allow for effective management of inventory. • Understand how product demand and product lifecycle are connected to inventory management. COURSE TOPICS INCLUDE: • Demand Characteristics and the Product Life Cycle • Push and pull systems • Demand forecasting • Categorisation of stock • ABC Analysis • Economic order quantity and minimum order quantity • Safety stock and stock cover • Materials requirements planning (MRP) • Stock replenishment systems • The cost of managing stock

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This foundational course will help all managers better understand what a procurement function does, including the processes, tools and techniques it employs to reach its goals and how it measures its business performance. PARTICIPANTS WILL LEARN HOW TO: Explain the contribution of procurement to the overall business objectives. Explain the added value that can be obtained by a business when it manages its procurement activities efficiently and effectively. Understand the complex activity of procurement and the challenges it presents for risk management. Develop good quality procurement practices that will manage the expectations of all stakeholders Identify methods by which a procurement function can be measured and performance monitored. Perform contract management activities. Understand ways in which improvements might be identified and implemented. COURSE TOPICS INCLUDE: Procurement and business objectives Stakeholder Management Commercial Specifications Whole Life Costing Targeted procurement Procurement planning Supplier Appraisal and selection RFQ & ITT & Evaluation Contract Management

This short course will aid contracting, procurement and sales professionals in understanding the essential principles of terms and conditions that are the vital components of any contract.