An Intensive 5-day Training Course
Strategic Cost and Value Management in Procurement
Building Robust Supply Planning Capabilities
Scheduled Dates
Classroom
| 02 - 06 Jun 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 01 - 05 Sep 2025 | Amsterdam - The Netherlands | $5,950 | RESERVE A SEAT |
| 24 - 28 Nov 2025 | London - UK | $5,950 | RESERVE A SEAT |
Online
| 24 - 28 Nov 2025 | Online | $3,950 | RESERVE A SEAT |
Would an alternative date be more suitable?
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
Why Choose this Training Course?
This PetroKnowledge Strategic Cost and Value Management in Procurement 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 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 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?
By the end of this PetroKnowledge 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?
This PetroKnowledge Strategic Cost and Value Management in Procurement training course is suitable for a wide range of professionals in the petroleum and construction industries, but will greatly benefit:
- P&L Owners
- Line Managers
- Cost Engineers
- Project Managers
- Departmental Heads
- Senior Procurement Leaders
- Experienced Procurement Personnel
- Tendering & Contracts Professionals
How will this Training Course be Presented?
Leveraging world best practice proven in the real business, this PetroKnowledge Strategic Cost and Value Management in Procurement training course will be delivered by a recognized Strategic Procurement Professional who has been leading in complex procurement projects around the world. Exercises, role plays built on a carefully designed case study will maximize hands-on practice.
Organisational Impact
Impact on the organisation in attending this PetroKnowledge Strategic Cost and Value Management in Procurement 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
Personal Impact
This impact of this 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
Daily Agenda
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
- Market Approaches
- Best-Fit Contracting Strategy
- Contract Award
- 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
- Decision Trees
- 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
- Influencing Skills
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
- Organizations Expectation
- Category Spend Data
- Supply Market Profiles
- Stakeholders’ Positions
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
