Procurement Strategy and Advanced Contract Management

London Business Training and Consulting

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This course emphasizes the significance of effective procurement management in shaping the success of an enterprise. It explores how the management of the procurement function itself can differentiate between a purely administrative, internal service provider team and a strategically important function that contributes to the overall corporate strategy. When the head of procurement holds a mid-ranking position, they may not have direct access to the chief executive. However, when a company has a Chief Procurement Officer in the “C Suite,” working alongside peers from Finance, Operations, and Technology, it signifies the importance of procurement in delivering the corporate strategy. This course focuses on procurement at its most influential and value-adding stages.

The course covers three essential areas of responsibility for contract managers. Firstly, it delves into the critical task of managing contractor performance, which involves measuring performance against deliverables or key performance indicators (KPIs) to achieve the contract objectives. Secondly, the course explores the intricate aspects of contract negotiation and contract drafting, two topics that are often interrelated. Lastly, it addresses the issues that arise when problems occur, leading to claims for compensation, damages, early termination, and potential disputes.

To conclude the course, there will be a summary of the key learning points, followed by an action planning exercise to encourage the immediate application of the acquired knowledge and skills upon returning to work. Additionally, post-course support is available for up to six (6) months to assist with the implementation of the action plan.

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