Procurement and Finance

Overview:

Introduction:

Effective procurement and finance management are critical for organizational success. This 5-day intensive course equips participants with a comprehensive understanding of procurement and finance principles, strategies, and best practices. You'll learn how to optimize spending, manage risks, and ensure financial sustainability.

Conference Objectives:

By the end of this conference, participants will be able to:

• Gain a solid understanding of procurement and finance fundamentals.

• Develop effective procurement strategies and negotiation skills.

• Master financial analysis and budgeting techniques.

• Learn how to manage risks and mitigate financial challenges.

• Understand the regulatory and compliance requirements related to procurement and finance.

Target Audience:

• Procurement managers and officers

• Finance professionals (analysts, controllers, CFOs)

• Supply chain managers

• Business owners and entrepreneurs

• Government officials involved in procurement and finance

Conference Outline:

Unit 1:

• Understanding the procurement process, from needs assessment to supplier selection and contract management.

• Reviewing basic financial concepts, including budgeting, cash flow management, and financial analysis.

•  Exploring the interdependence of procurement and finance functions and their impact on organizational performance.

• Understanding the importance of strategic sourcing and developing effective supplier management strategies.

• Identifying and mitigating risks associated with procurement activities.

Unit 2:

• Developing criteria for selecting suppliers and evaluating their performance.

• Mastering negotiation skills to secure favorable terms and pricing from suppliers.

• Understanding contract types, terms, and conditions, and effectively managing contractual relationships.

• Evaluating supplier performance and addressing performance issues.

• Utilizing data analytics to optimize procurement processes and identify cost-saving opportunities.

Unit 3:

• Understanding and interpreting financial statements (income statement, balance sheet, cash flow statement).

• Developing effective budgeting and forecasting techniques for financial planning.

• Evaluating the financial implications of procurement decisions and projects.

• Analyzing variances between budgeted and actual costs to identify areas for improvement.

• Identifying and managing financial risks, such as currency fluctuations, interest rate changes, and credit risk.

Unit 4:

• Understanding relevant procurement laws and regulations, including public and ethical guidelines.

• Identifying and managing risks in the supply chain, such as ethical sourcing, sustainability, and geopolitical factors.

• Promoting ethical behavior in procurement practices and preventing corruption.

• Understanding the importance of procurement audits and ensuring compliance with regulations.

• Integrating sustainability considerations into procurement decisions and promoting sustainable sourcing.

Unit 5:

Contract Closeout and Completion:

• Exploring the impact of technology on procurement, including e-procurement, blockchain, and artificial intelligence.

• Understanding the challenges and opportunities of global procurement and supply chain management.

• Leveraging data analytics to drive insights and improve procurement decision-making.

• Exploring the role of procurement in supporting innovation and growth.

• Analyzing case studies of successful procurement and finance initiatives and identifying best practices.