Essential Skills in Tendering and Procurement
Course Code: PM103
Objective:
- Understand the fundamentals of procurement and tendering processes.
- Learn how to create effective procurement plans that align with organizational goals.
- Understand sourcing techniques and supplier evaluation criteria.
- Master the creation of clear and effective tender documents.
- Learn how to assess and evaluate bids effectively and fairly.
- Develop effective negotiation strategies to secure favorable terms.
- Understand contract lifecycle management and ensure compliance.
- Identify and mitigate risks throughout the procurement process.
- Adopt ethical and sustainable practices in procurement.
- Explore the role of digital tools in improving procurement efficiency.
- Apply learned skills through real-life scenarios.
Course outline:
- Introduction to Tendering and Procurement
- Key definitions and terminology in procurement
- Importance of procurement in business strategy
- Overview of tendering processes and types of tenders
2. Procurement Planning and Strategy
- Identifying procurement needs and setting objectives
- Developing procurement strategies for goods and services
- Supplier market analysis and risk assessment
3. Sourcing and Supplier Selection
- Methods of sourcing (direct, indirect, competitive bidding, etc.)
- Supplier qualification and selection criteria
- Ethical considerations in supplier selection
4. Tender Documentation and Preparation
- Components of a tender document (specifications, terms, and conditions)
- Writing clear and detailed requirements
- Legal aspects of tender documents and avoiding potential disputes
5. Evaluation of Tender Bids
- Setting evaluation criteria and scoring methods
- Evaluating technical and financial bids
- Decision-making techniques in bid evaluation
6. Negotiation Skills in Procurement
- Fundamentals of negotiation in procurement
- Strategies for successful negotiation with suppliers
- Handling objections and achieving win-win outcomes
7. Contract Management and Compliance
- Key contract terms and obligations
- Contract monitoring and performance measurement
- Managing contract changes and resolving disputes
8. Risk Management in Procurement
- Types of risks in procurement and tendering
- Developing risk mitigation strategies
- Contingency planning and proactive risk assessment
9. Sustainable and Ethical Procurement Practices
- Principles of sustainable procurement
- Ensuring compliance with environmental and ethical standards
- Supplier diversity and promoting fair trade practices
10. Technology in Procurement and Tendering
- E-procurement platforms and tools
- Benefits of procurement software in vendor management
- Emerging trends like AI and data analytics in procurement
11. Final Review and Case Studies
- Review of key takeaways and best practices
- Group exercises and simulations
- Analysis of case studies in tendering and procurement
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