Today’s Procurement and Inventory managers operate in a demanding environment and are charged with streamlining the many and complex activities that provide organizations with the essential materials and services to accomplish their missions, frequently controlling material flows moving in multiple directions across many countries and regions. They must know how to balance cost, effectiveness and risk to fulfil the demands of their organization’s supply chain and deliver the required customer service levels. All of this takes place against the backdrop of the larger economic and social forces shaping consumption, production and distribution trends across the globe.
Procurement management essentials
Profit through procurement management
Procurement management and customer service
Analyzing the requirements
Setting procurement management parameters
Types of Inventory and Classification Models
Applications of ABC Ranking
Overview of Inventory Order Cycle
Types of Demand and Various Factors Influencing Demand
Factors Affecting Demand Forecast Accuracy and Measurement
Various Demand Patterns
Understanding Supply Lead Time
Pricing methodology in procurement
Supplier assessment technics
KPI of supplier
Tender & contract negotiation
Contract Structure
Supporting Documents
Terms and Conditions
Payment Options
Warranty and Guarantee
Receipts and issues of stock
Order quantities and rules
Stocktaking and different types of stockholding
Safety stock
Obsolescence and write-offs – methods and procedures for disposal of surplus and unserviceable items
Establish a consistent and efficient organization system
Make picking more efficient
Establish an inventory management system
Regularly conduct a visual inspection of storage areas
Meet key staff regularly
Make changes, when necessary
Understand about procurement planning and its process
Utilize procurement method
Understand some challenges about procurement
Raise awareness on technology to manage procurement
Improve control over warehouse operations
Learn warehouse management system
Understand the basic of inventory management
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