Finance for Procurement

ر.س3,747.55

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Procurement as function contributes to the company profitability and business growth through effective management of resources, reducing risk and ensuring the company is attractive for reliable suppliers.

Understanding the supplier’s published financial information and then use that data to help steer the organization away from unreliable suppliers.

This course is for Commodity Specialists, Category Managers, Contract Managers, Commercial Specialists, Buyers, Sourcing Manager, Procurement and Supply Chain Managers, Cross-functional teams leaders/members.

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Learning Objectives

 

Upon completion of this course, delegates will be equipped with:

  • Day 1
    • Understanding basic finance terminologies and financial performance KPIs.
    • Budgeting and cost management in the Purchasing function – create an expenditure budget based on a previous year’s figures (incremental).,
    • Evaluate various capital purchasing methods for investment decisions.
  • Day 2
    • Assess the total cost of ownership and apply appropriate modelling to reduce that cost where possible.
    • Tools that can be used immediately to drive and logically motivate key procurement decisions .
    • The ability to use a variety of sources, including industry data and cost breakdowns to influence and tailor specific negotiation targets.