- Payment Terms: Enquire
- Locations: Dubai Riyadh Istanbul England - United Kingdom Kuala Lumpur Singapore Barcelona Manhattan - United States
- Duration / Course length: 10 Days
- Starting Date: Enquire About It
- Timings: Enquire
Course details
Course Introduction:
For procurement professionals seeking a strategic edge, this course covers advanced supplier management, strategic sourcing, and procurement processes.
Course Outcomes:
Plan and conduct a procurement activity
Select suppliers using appropriate evaluation methods and criteria
Measure supplier performance
Identify ways to increase procurement effectiveness and efficiency
Develop a strategy for sourcing that achieves tangible benefits
Review critical supply strategies
Implement strategic sourcing strategies to maximise total cost savings
Assess and prioritise opportunities for cost savings
Who Should Attend:
Purchasing executives, senior managers, and professional staff from supply chain management, logistics and inventory planning and control
General managers wanting to understand the procurement function
Those engaged in the management or operation of projects
Those responsible for developing, managing or working with budget/cost constraints
Those with an interest in strategic planning and costs management
Those who are involved in the planning, evaluation, preparation and management of purchasing, tenders, contracts that cover the acquisition of materials, equipment, and services
Course Topics:
The principles of Procurement
Definition of procurement vs purchasing activities
Defining the goals of procurement
The role of procurement
Supporting the business strategic objectives
Formulating the procurement strategy
The Procurement Process
Key roles and responsibilitiesForming commodity teams
Planning the procurement activities
Development of the procurement policy
Developing the supplier selection process
Compiling the Approved Supplier List
Determination of the most appropriate suppliers
Methods and techniques of inviting potential suppliers
Developing the supplier questionnaire
Supplier segmentation and grading Tier 1 2 and 3 suppliers
Developing supplier performance metrics
Supplier Relationship Management (SRM)
Introduction to the principles of SRM
The importance of the buyer/supplier relationship
Developing the SRM strategy
Collaboration and joint working
Motivating suppliers and continuous improvement
Monitoring and Managing Supplier Contracts
Managing the contract and setting expectations
The importance of setting proper baselines
Conducting supplier appraisals based on performance measures and metrics
Dealing with underperforming suppliers
Dealing with breaches and disputes
Definition and development of a sourcing strategy
Understanding the concept of strategic sourcing
Differences between sourcing and strategic sourcing
The seven stages of a competitive sourcing strategy
The value and benefits of strategic sourcing
Performing a strategic sourcing gap analysis
The Strategic Sourcing Process
Working to the seven phases
Generate the supplier portfolio
Determine the implementation path
Selection of strategic suppliers
Integration of the strategic suppliers
Strategic Cost Management
Principle of cost management in procurement
Whole life costing
Total cost of ownership
Target costing and analysing prices
Should cost analysis
Identifying and managing risks
Determination of the risk involved in the global supply chain
Practical risk identification and assessment
Proactive risk management
Effective risk migration strategies
Dealing with challenging situations in the supply chain
Eligibility / Requirements
N/A
About LCT International
LCT International is a premier provider of executive education, delivering world-class training and consultancy solutions to international governments, corporations, and professionals worldwide. With a legacy of excellence, innovation, and impact, we help professionals and organizations develop the skills, strategies, and leadership capabilities needed to thrive in today’s dynamic global economy.
Our programs are designed to bridge the gap between theory and practice, ensuring that every learning experience translates into real-world success. Whether you’re a senior executive, aspiring leader, or organization seeking to upskill your workforce, LCT International provides cutting-edge training tailored to your specific needs.
Why Choose LCT International?
- Global Recognition & Expertise – With a strong legacy in professional development, we have trained leaders from over 500 organizations across 100+ countries, making us a trusted name in executive education.
- Tailored Learning Solutions – Our programs are designed to meet the evolving needs of industries, ensuring practical, results-driven learning that enhances careers and strengthens organizations.
- Industry-Leading Faculty – Learn from renowned experts and practitioners with decades of experience in leadership, finance, HR, operations, and strategic management. Our trainers bring real-world insights and case studies to every session.
- Flexible Training Formats – Whether you prefer onsite sessions in global locations, immersive executive retreats, or live virtual training, we offer seamless learning experiences that fit your schedule.
- A Legacy of Excellence – Formerly London Corporate Training (LCT), we have evolved into LCT International, reinforcing our commitment to expanding global access while maintaining our rich heritage of quality education. This transition reflects our continued dedication to offering enhanced learning experiences that cater to professionals worldwide.
- Practical & Impactful Learning – We go beyond theoretical training by integrating interactive workshops, real-world case studies, and hands-on simulations, ensuring that participants can apply what they learn immediately in their professional environments.
Our Areas of Expertise
- Leadership & Strategic Management – Executive leadership, corporate strategy, decision-making, and change management
- Finance & Banking – Financial risk management, corporate finance, investment strategies, and international banking
- Human Resource Management – Talent management, organizational development, performance management, and employee engagement
- Operations & Project Management – Agile project management, supply chain optimization, and operational excellence
- Marketing & Business Development – Digital marketing, brand management, customer experience, and market expansion strategies
- Public Sector & Government Training – Policy development, governance, and regulatory compliance
At LCT International, we don’t just teach – we transform careers, empower professionals, and drive organizational success.
Take the next step in your professional growth!
See all LCT International coursesEnquire about this course
You may add more courses here,
your list will be saved.
