Procurement Basics

Looking to launch a career in procurement or enhance your existing skills? This course provides a comprehensive understanding of the procurement life cycle, equipping you with the knowledge and confidence to excel. We'll take you through each stage, from initial need identification to ongoing contract management.

Here's a detailed look at what we cover:

• Business Need: Learn to clearly define project outcomes and determine if outsourcing is the right solution for your organization. You'll gain practical experience completing a procurement brief template.
• Procurement Strategy: Develop a robust procurement strategy encompassing project timelines, alternative options, budget planning, risk assessment, and stakeholder identification.
• Sourcing: Master the art of sourcing through ITT (Invitation to Tender) and RFQ (Request for Quotation) processes. We'll delve into crucial aspects like contract terms and conditions, pricing schedules, compliance checks, and risk mitigation.
• Contract Award: Understand the critical steps involved in contract award, including thorough due diligence, contract sign-off procedures, and seamless handovers when transitioning from an existing supplier.
• Contract Management: Finally, we'll explore effective contract management techniques to ensure successful delivery of contract outputs and ongoing performance.

Remember, the procurement life cycle is not linear. It's a continuous process! When a contract expires or new requirements arise, the cycle begins anew. This course provides a solid foundation for navigating the entire procurement process.