Finance for Procurement and Logistics Professionals 每 Reduce Risk in Contracts
- The financial appraisal in the procurement and logistics process is to analyse a supplier’s financial position and determine the level of risk that it would represent to the Organisation – having regard to the contract requirement and value, criticality, and the nature of the market. The assessment of risk should be based on sound business judgment rather than just the mechanistic application of financial formulae
- The purpose of this module is to provide participants with the information and knowledge to appraise the financial situation of the suppliers and then monitor and improve their performance.
It may cover, but not be limited to, the following:
- Methods of Supplier Appraisal
- How to select criteria to appraise suppliers?
- Evaluation of Appraisal results
- Appraisal Process
- Evaluate and assess financial statements of the suppliers and customers and relate them back to the business
- Compare the value and relevance of financial information in the context of the decision-making process for evaluation and selection of supplier and service providers
- Use the wide variety of finance and accounting terminology
- Propose financial management tools and techniques and be able to apply these in relation to the total procurement and supply chain process – Ratio Analysis, ROI, NPV and Payback
- Evaluate the elements that make up a complex business case for a capital acquisition, including downstream maintenance, service provisions for the life of the acquisition, and disposal.
Who Should Attend?
- This course is designed for junior, middle and senior managers that are involved in sales and marketing or procurement and supply. It is also useful for those personnel who are engaged in procurement fixed assets and capital goods for their organisations.