BEST PRACTICES WITHIN PROCUREMENT

Jan 2023, Armada Hotel, Petaling Jaya, Malaysia.

Click here to register

About the Trainer:

Jude Selvaraj Joseph’s diverse background and versatility in training both youth and adult learners enables him to tap on an abundance of experiences in sharing, connecting and engaging with individuals.

He is an International Dynamic Speaker, Certified Corporate Trainer and Entrepreneur. He has acclaimed a lot of goodwill and accolades in the fields of education and corporate trainings both locally and internationally by his High Impact Sessions.

Over the last 26 years, Jude has worked with several organisations namely The Asian Institute of Chartered Bankers (formerly known as Institute of Bankers, Malaysia), Perak Branch, Kolej Syuen, Ipoh and Scania – Southeast Asia, Shah Alam holding senior positions in the areas of education, coaching, training and development, hospitality, logistics, supply chain, warehousing etc. whilst pursuing his passion in education, training and development.

Jude possesses a double Masters in Business Administration & Management. One is from AsiaeUniversity, Malaysia majoring in Human Resource Management and the other is from The University of The West of Scotland, United Kingdom majoring in General Management with a thesis in Logistics and Supply Chain Management. He is currently pursuing his Industrial Doctorate in Business Administration (IDBA) and is scheduled to complete by mid-2022.

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INTRODUCTION:

This training is crafted to enable employees who spearhead procurement management in their organisations to possess in- depth knowledge of public procurement. In addition, it will also equip them with the necessary skills and tools required to make the process beneficial to their organisations.

The cost of purchasing and doing business is on a steady rise. Businesses have started to regard procurement management as their top priority since it takes up a large share of their overall spend. Considering most organizations still hold on to their manual procurement practices, a complete revamp of their procurement functions is crucial to keep pace with business demands.

In order to get these fundamentals right, organizations need to implement an effective procure-to-pay process and embrace the right technology solutions. However, simply revamping the process and implementing a top technology product won’t make the procurement function best-in-class. So, what does it take?

The answer might differ from one organization to another, but there are some procurement best practices that several leading companies have adopted over time.

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Benefits of Attending:

Have an in-depth knowledge of the procurement process.

• Use techniques and skills for value-generating procurement.
• Be able to apply the newly acquired knowledge and skills to the procurement process of their organisations.
• Use best practices via implementation of Small Test of Change (SToC)
• GROW your suppliers

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Course Outline

Cloud-based Procurement Tools and Internet of Things (IoT)

Spend Transparency

Define and implement procurement policies properly

Monitor and document every step of the procurement process

Identify and manage a list of approved supplier lists

Establish fool-proof procurement contracts

Conduct frequent audits

Supplier Engagement

Generating win-win situations and trust

Treating suppliers as strategic partners

Monitoring supplier performance with specific KPIs

Enabling collaboration and communication with vendors

Optimized Inventory

The ‘real cost’ of holding inventory is much higher than the cost of ordering items

The rule of thumb for holding costs is between 20 and 30 percent

It is not just consumable products that go bad over a period of time –everything from consumer electronics to clothing is subject to risks

The major reason for out-of-balance inventories is poor planning and forecasting