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Global Procurement and Inventory Management
Overview:
Introduction:
This training program offers an in-depth exploration of global purchasing management, demand supply, and inventory management practices. It empowers participants to implement cutting-edge practices and drive excellence in supply chain management.
Program Objectives:
At the end of this program, participants will be able to:
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Gain insights into global purchasing management practices.
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Master demand forecasting techniques for effective supply chain planning.
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Optimize inventory management strategies to minimize costs and maximize efficiency.
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Implement best practices to enhance procurement, demand supply, and inventory management processes.
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Drive continuous improvement in supply chain performance through innovative approaches.
Targeted Audience:
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Procurement managers and specialists.
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Inventory managers and analysts.
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Supply chain professionals.
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Operations managers.
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Personnel involved in procurement, demand supply, and inventory management roles.
Program Outline:
Unit 1:
Global Purchasing Management:
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Overview of global procurement trends and challenges.
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Strategic sourcing strategies for global supply chains.
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Supplier relationship management in a global context.
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Best practices in cross-border procurement.
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Case studies highlighting successful global purchasing initiatives.
Unit 2:
Demand Forecasting and Supply Planning:
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Principles of demand forecasting and supply chain planning.
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Forecasting methods and techniques for different industries.
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Collaborative forecasting and demand sensing approaches.
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Inventory optimization strategies based on demand variability.
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Aligning supply planning with business objectives.
Unit 3:
Inventory Management Strategies:
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Inventory classification and ABC analysis.
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Economic order quantity (EOQ) and reorder point (ROP) models.
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Safety stock and buffer management techniques.
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Inventory turnover and carrying cost optimization.
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Implementing Just-In-Time (JIT) and lean inventory principles.
Unit 4:
Procurement Excellence and Cost Management:
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Total cost of ownership (TCO) analysis in procurement.
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Value-based sourcing and cost optimization strategies.
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Negotiation tactics for cost reduction and value enhancement.
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Contract management best practices for cost control.
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Supplier performance measurement and improvement initiatives.
Unit 5:
Innovation in Supply Chain Management:
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Emerging technologies shaping the future of supply chain management.
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Digitalization and automation in procurement and inventory management.
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Blockchain applications for supply chain transparency and traceability.
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Sustainable supply chain practices and environmental considerations.
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Leveraging data analytics for predictive insights and decision-making.