PRINCIPLES OF EFFECTIVE PROCUREMENT

• Functions – Understanding The Basic Functions
  
• Type Of Buying Situations – How Buying Situations Differ And The Impact On Procurement Functions
  
• The Process – A Typical Process That Ensures Contract And Company Policy Compliance
  
• Responsibilities – The Role And Responsibilities Of Procurement To Ensure Compliance, Management And Monitoring Of Contracts
  

MANAGING PROCUREMENT BY CONTRACTS

• What Is A Contract – Definition, And What Constitutes Contract
  
• Importance – Why Contracts, The Essentials, How It Affects Performance And Cost Benefits
  
• The Need For Contracts – A Paradigm Shift That Looks At Contracts For Cost Efficiency And Consistency
  
• Type Of Contracts – Looks At Various Contracts That Can Be Considered For Businesses
  
• Legal Aspects To Consider – Essential Laws That Need To Be Understood And How The Legal Aspects Determine The Drafting Of Contracts

THE CONTRACT DRAFTING

• The Essentials Of Contract Drafting And The Traps To Look Out For
  
• Key Contract Provisions – The Opportunities A Contract Provides In Ensuring Fairness And Setting Obligations
  
• Key Elements Of A Contract – Ensuring Essential Requirements Are Included With Clarity
  
• Determine The Applicability Of Other Contract Terms To A Particular Contract Like Dispute Resolution, Etc.
  
• Contentious Clauses In Contracts - The Need To Understand Contentious Clauses And How To Include Them In The Contract

THE ESSENTIAL PRELIMINARIES OF A CONTRACT

• Specification – Looks At Why Specification Is Important To Ensure The Contracts Begin On The Right Footing
  
• Preparation Of SOW & RFP – What Is A SOW & RFP; The Difference And Importance Of It, How It Helps
  Determine The Course Of The Contract
  
• Steps In SOW – Essentials Of Developing A Good SOW To Ensure The Contract Completes Its Terms Successfully
  
• Importance Of RFP – Ensuring The Important Details Are Included To Avoid Inconsistencies And How A Detailed RFP Avoids Litigation And Problems
  
• Tenders & Quotations – Looks At The Fundamental Differences And Usage In Business
  
• Rights – Conditions And Rights Of Buyers And Sellers

RISK MANAGEMENT

• Types Of Risks – Defining Risks And The Various Types Of Risks That Should Be Considered In Business
  
• Transfer Of Risks – 13 INCOTERMS – How International Trading Addresses Risk By Understanding Risk Transfer And Responsibilities
  
• Identifying Risks – Acknowledging Risks And Its Sources
  
• Responsibilities – Looks At Responsibilities Of All Parties Of A Contract In Addressing Risk
  
• Managing Risks – Looks At The Various Stages Of Managing Risks In A Contract
  

SELECTION OF SUPPLIERS

• Supplier Rating – Suppliers Are Rated According Company Criteria Prior To Selecting Them For Any Business Deals
  
• Criteria – Looks At The Basics And Standards Expected That Will Ensure Consistency And Quality Of Potential Suppliers
  
• Selection – This Process Looks At All The Essentials After The Criteria Have Been Met
  
• Negotiation – Negotiation With Suppliers Prior To Contract Acceptance

CONTRACT PERFORMANCE AND PROGRESS MONITORING

• Measurement - Setting Measurement Methodology And Monitoring Principles
  
• The Experience Stage – Understanding How Relationships Are Developed And Addressing Key Contract Issues While Contracts Are On Going
• Monitoring Techniques – Setting Key Performance Indicators And Making The Contract Performance Based
  
• Change Control – Changes May Happen Periodically In The Life A Contract And How Changes Can Be Addressed With Derailing The Contract
  
• Contract Closure – All Contracts Will Come To An End And Needs To Be Closed Effectively

SUPPLIER DEVELOPMENT

• Understanding Supplier Relations – Why Work With Suppliers And How A Relationship Could Be Developed For Good Business Practices
  
• What Is Supplier Development? – Understanding Why Suppliers Have To Be Developed For Mutual Benefits, The Ways In Which Suppliers Are Developed
  
• The Process Of Development – Supplier Development And The Experience Factor And How Loyalty And Commitments Are Explored

SOFTWARE TO MANAGE CONTRACTS

• The Need For Efficient Monitoring Mechanism – Looks At How Computer Systems Could Contribute To Cost Efficiency Of Managing Contracts
  
• Cost Benefits Of Software – While It Is Good To Automate Tedious Processes, Cost Benefits Have To Be Looked Into
  
• Functionality & Integration – Looks At How Compatibility Determines Decision Making In Systems Investment
  
• Risk Reducing & Compliance Monitoring – How Systems Take Away A Major Portion Of Standardized Processes And Provide Better And Effective Ways Of Monitoring Contract Progress