Financial acumen for Procurement Professionals.
Date:
To be announced
Course Venue:
Midrand
Cost:
R 8400 excluding VAT
Course Objectives
Financial acumen for Procurement Professionals.
Other dates:
Dates to be confirmed
Procurement Professionals manage many and varied suppliers and are required to assess each of them based on financial information, such as performing financial appraisals using a range of financial performance and efficiency ratios.
Understand the financial processes within the business and understand how financial information is applied from a procurement perspective.
You will learn
- Understand financial statements., Perform supplier assessments - use and apply key financial ratios to understand various supply risks., Understand the application of financial info in your business., Accounting standards and their role., Proven tools to monitor; control; report and effectively budget., 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., Financial tools to facilitate decision-making - assess the impact of external factors upon the investment decision-making process and how these might be factored into the modelling and business case., Managing financial risk in procurement - assess the different types of risk and their impact on suppliers; your own organisation and customers; and describe and evaluate the main options for managing financial risk associated with the supply chain.
Who should attend
- Commodity Specialists, Category Managers, Contract Managers, Commercial Specialists, Buyers, Sourcing Manager, Procurement and Supply Chain Managers, Cross-functional teams leaders/members