Course details
Current and future leaders in Contract and Procurement functions are expected to be experts in world-class buying and contract practices. This two part fast paced program is designed to provide Contract and Purchasing Leadership not only with strategies, concepts, and techniques generally viewed as leading to World-Class performance in contracts and procurement activities but also to provide enthusiasm and guidance in how to "make it happen".
Since a major portion of every organization's operating cost is spent on outside goods and services, executive management everywhere is determining that Contracts and Purchasing must emerge as a core competency if organizations are to decrease expenses while improving operations. This seminar is designed to explore many of the best practices in Contracts and Purchasing so that participants can determine where they are now and begin implementation of the steps needed to create maximum total value for their organization.
The Structure
Module 1 - The Complete Course on Contracts Management
Module 2 - The Complete Course on Purchasing Management
The Goals
This programme will give you:
- Discuss elements of good contract process
- Learn methods of tender evaluation
- Review contract strategies
- See examples of important commercial contract clauses
- Be presented the essential elements of a contract
- Be given examples of contract checklist
- Learn how to develop high performance purchasing organizations
- Develop strategic purchasing plans
- Be taught how to develop spend profiles and perform analysis to guide strategies
- Explore many ways of reporting key performance indicators (KPI
- Be presented with the most important competencies for contract and purchasing personnel
The Process
Participants will increase their knowledge base and skill sets through a variety of instructional methods including lecture by an experienced practitioner and consultant who has "been there-done that", individual and group exercises, review of published articles, and group discussions covering current practices and their relationship to the implementation of new concepts.
The Benefits
- Increased skill sets in managing a purchasing and contract activities
- Greater ability to develop professionalism
- Greater job satisfaction and progress toward advancement
- Increased Knowledge about Contract Terms and Conditions
- Greater ability to lead, plan, and manage the contract process
- Increased recognition by the organization due to improved performance
The Results
- Having expert Procurement & Contract personnel leading and guiding the procurement process
- Continuous improvement in total cost of materials & services
- Higher productivity of personnel involved in procurement activities
- Improved performance of contractors and suppliers
- Better ways to measure performance of procurement and contract groups
- Better integration between functions resulting in shorter cycle-time
The Core Competencies
- Management and Control of Contracts
- Evaluating Contract Prices & Drafting Contracts
- Economic Price Adjustment Clauses
- Developing spend analysis to focus improvement initiatives
- Cost Containment strategies & Reducing low value activities
- Procurement measurements that really define performance
The Programme Content
Module 1:
The Complete Course on Contracts Management
What are contracts and how are they created?
The need for contractual relationships
What is needed to create a valid contract?
- Offer and acceptance
- Intention to create a legal relationship
- Written or oral?
- Other legal formalities in different countries
- Signing and sealing
- Witnesses
- Authority to sign
- How to prove authority
- The tender process
- Involvement of agents
- What happens if there is no contract, but work is carried out anyway?
- Making contracts enforceable - with particular emphasis on the international context
Structure of Contracts
- Form of Agreement
- General Terms and Conditions
- Special Terms and Conditions
- Schedules or Appendices
- Title (ownership) and risk of damage
- When does it transfer?
- Use of ICC INCOTERMS
- Notices and other formalities
- Which law and which courts?
- Different contractual structures
- Traditional
- New structures used in the Middle East
- New structures not widely used in the Middle East
Collateral Documents
- Bonds and guarantees
- Tender Bonds
- Advance Payment Bonds
- Performance Bonds
- Warranty Bonds
- Parent Company Guarantees
- Retention/Withholding
- Retention Bonds
- Letters of intent
- Letters of award
- Letters of comfort or awareness
- Types
- Who should carry the cover?
- How should you manage claims?
- Are banks or insurance companies good enough security?
- Insurance policies
- Assessing the need for financial security in the current economic climate
- Changes to the Contract Documents
- Need for consent
- Assignment/Novation explained and distinguished
- Waiver
- Changes to the scope
- Variation clauses
- Notice provisions
- Valuation of variations and changes
- Claims - what they are, and how they arise
- Delay caused by client
- Delay caused by contractor/supplier
- Force majeure
- Delay and disruption
Resolving Disputes
- Negotiation
- Staged dispute resolution clauses
- Litigation
- Arbitration
- New best practices in dispute resolution
- Mediation
- Conciliation
- Early neutral evaluation
- Expert determination
- Mini-arbitration
- Pendulum arbitration
- Final questions and review of course
Module 2:
The Complete Course on Purchasing Management
The 1st Steps To Becoming World Class
- 4 Stages To World Class
- Let's be honest of how Purchasing is viewed today
- Strategic Sourcing
- Developing Spend Profiles and the ABC Analysis
- New Job Descriptions For Purchasing of the future
- Purchasing Personnel Required Skill Sets
Evaluating Your Own Operation
- What are best Practices
- Purchasing Gap Analysis
- Vision and Mission for Purchasing
- Developing The Purchasing Department Strategic Plan
- Developing Key Performance Indicators (KPI) For Procurement
- Developing A Company Purchase Price Index
Continuous Improvement and How To Get It
- Cost Reduction Initiatives
- Methods of Cost Containment
- Waste In The Supply Chain
- Breaking Down The Elements Of Supplier Cost
- Commodity/Service Strategic Planning
- Resisting Price Increases
- Supplier Classification System
- Supplier Qualification Methods
- Supplier Performance Metrics
- Apply Performance to Purchasing Decisions
- Process Mapping To Eliminate Low Value Activities
- eProcurement
Improving the Image of Procurement
- Global Sourcing
- International Labor Rates Comparison
- Developing And Maintaining A Customer Focus
- Basic Issues In Corruption And Fraud Prevention
- Increasing The Level Of Procurement Professionalism
- Keeping Current in the profession
About PetroTech
Knowledge
The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.
Quality
Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table. Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.
Innovation
Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.
Respect
We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible. Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect. Come experience the difference that quality and respect makes and you will truly be amazed.
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