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Why Choose this Training Course?
Why Choose this Training Seminar?
This PetroKnowledge Strategic Cost and Value Management in Procurement online training course will have a deep dive into Total Cost of Ownership and value creation by strategic procurement, which is critical for organizations to be able to compete at the global level with sustainable profitability. It will look at how to deliver acquisition cost reduction, TCO optimization, cost avoidance, and value creation in modern organizations.
Strategic cost management is vital and increasingly important for all organisations. Competitive bidding with as many bidders as possible is the only way to help organizations buy goods or services at the lowest price such that the organizations can become more competitive than their peers? This common and traditional approach will remain a major mechanism in both private and public procurement. Still, there is a much bigger picture and scope that contributes to the competitiveness of organizations. Time-To-Market, Total Life Cycle Cost, Brand Image, Corporate Reputation, etc. will all contribute to the competitiveness of modern organizations. This online training course leads the participants through the development and implementation of carefully crafted strategies for managing costs while maximizing value for the more significant organizations.
This PetroKnowledge online training course will highlight:
Setting strategies for world-class category cost management
Maximising value for money
Identifying costs drivers
Improving profitability by minimizing Total Cost of Ownership (TCO)
Understanding and managing supplier pricing models
What are the Goals?
What are the Goals?
By the end of this PetroKnowledge online training course, the participants will be able to:
Identify the major costs drivers to recommend cost control measures and strategies
Analyse the Elements of Cost in Supplier’s Price
Evaluate total life cycle costs or Total Cost of Ownership (TCO)
Analyse costs within the organisation
Create an approach to Strategic Cost management
Who is this Training Course for?
Who is this Training Seminar for?
This PetroKnowledge Strategic Cost and Value Management in Procurement online training course is suitable for a wide range of professionals in the petroleum and construction industries, but will greatly benefit:
Senior Procurement Leaders
Experienced Procurement Personnel
Tendering & Contracts Professionals
How will this Training Course be Presented?
This PetroKnowledge online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted online via an Advanced Virtual Learning Platform in the comfort of your choice location
Impact on the organisation in attending this PetroKnowledge online training course is profound, including:
Understanding the impact of Cost Management in Procurement
Understanding how cost and management accounting information affects the strategic and operational decisions within the organization
Understanding of profitability of key customers, and how this effect strategic cost management in the supply chain
Crafting the right strategies to deliver quantifiable value to the organisation
Appreciating the latest trend in procurement cost management in some of the biggest MNCs
Understand the need for change to more strategic and innovative approaches
This impact of this online training course to the participants are manifold and includes:
Climbing the career ladder for a strategic procurement role vs. administrative role
Upgraded status in the organization for directly impacting on the profitability of the organization
Understanding the range of methodologies and techniques required for Total Cost of Ownership reduction
Being respected as a change champion to lead all departments in TCO reduction
Being more respected by suppliers for acting more professionally
Adding consulting skills to his/her competence
Day One: Understanding the Value Proposition of Procurement to a Corporate
Linking Corporate and Procurement Objectives
World-Class Procurement Performance Benchmarking
KPIs to Measure Procurement Performance
Typical Procurement Organizational Structures
Common Requisition-To-Pay and Contract Management Systems
Private and Public Procurement Policies
Day Two: Tools and Techniques in E2E Procurement Category Management
Supply Market Analysis
Best-Fit Contracting Strategy
Contract Performance Management
Day Three: Cost Management and Value Creation
Understanding the Financial Statements
Applying and interpreting Present Net Value
Supply Chain Cost Modelling
Total Cost of Ownership and Total Lifecycle Cost
Porter’s Five Forces
Value in Post Contract Award Contract Management
Tools and Techniques in Decision Making
Root Cause Analysis
Day Four: Selling Strategic Procurement to Stakeholders
Create the Vision and Mission Statement
Quantify the Tangible Benefits and Cost to Implement the Strategies
Introduce the Organization, Process, and Systems to realize the Strategic Procurement Benefits
Specify the Deliverables and Milestones
Estimate the Resources and Time Needed for implementation
Identify Stakeholders and create Stakeholders Management Plan
Create Risks Mitigation Plan for the Project
Prepare Communication Plan
Day Five: Create A Deep Dive Category Strategy
Define the Deliverables of a Deep Dive Category Strategy
Introduction of Three Categories for Teams to Choose From
Category Spend Data
Supply Market Profiles
On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates
In Association With
Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients