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:

• Gain insights into global purchasing management practices.

• Master demand forecasting techniques for effective supply chain planning.

• Optimize inventory management strategies to minimize costs and maximize efficiency.

• Implement best practices to enhance procurement, demand supply, and inventory management processes.

• Drive continuous improvement in supply chain performance through innovative approaches.

Targeted Audience:

• Procurement managers and specialists.

• Inventory managers and analysts.

• Supply chain professionals.

• Operations managers.

• Personnel involved in procurement, demand supply, and inventory management roles.

Program Outline:

Unit 1:

Global Purchasing Management:

• Overview of global procurement trends and challenges.

• Strategic sourcing strategies for global supply chains.

• Supplier relationship management in a global context.

• Best practices in cross-border procurement.

• Case studies highlighting successful global purchasing initiatives.

Unit 2:

Demand Forecasting and Supply Planning:

• Principles of demand forecasting and supply chain planning.

• Forecasting methods and techniques for different industries.

• Collaborative forecasting and demand sensing approaches.

• Inventory optimization strategies based on demand variability.

• Aligning supply planning with business objectives.

Unit 3:

Inventory Management Strategies:

• Inventory classification and ABC analysis.

• Economic order quantity (EOQ) and reorder point (ROP) models.

• Safety stock and buffer management techniques.

• Inventory turnover and carrying cost optimization.

• Implementing Just-In-Time (JIT) and lean inventory principles.

Unit 4:

Procurement Excellence and Cost Management:

• Total cost of ownership (TCO) analysis in procurement.

• Value-based sourcing and cost optimization strategies.

• Negotiation tactics for cost reduction and value enhancement.

• Contract management best practices for cost control.

• Supplier performance measurement and improvement initiatives.

Unit 5:

Innovation in Supply Chain Management:

• Emerging technologies shaping the future of supply chain management.

• Digitalization and automation in procurement and inventory management.

• Blockchain applications for supply chain transparency and traceability.

• Sustainable supply chain practices and environmental considerations.

• Leveraging data analytics for predictive insights and decision-making.