Procurement Lab

Best-Practice Procurement Concepts and Tools in Action

What you'll learn
Understand basic principles of Agile procurement and its practical implications
Review and test practical ways to improve the process of buying
Find well-established and innovative methods to deliver procurement value
Comprehend principles of value-based procurement and its differences to the TCO-based sourcing
Review and test multiple methods to increase the effectiveness of procurement processes
Requirements
Basic understanding of procurement and sourcing processes and governance
Description
This course isn't about general procurement, supplier management, or negotiations. Such training is abundant elsewhere on Udemy. As a consultant and tutor, I can spend long hours explaining each topic in detail. I will overwhelm you with information, which may be sometimes difficult to digest and operationalize. It takes years of hands-on experience to learn how to process the theoretical constructs into light and valuable tools for daily use.Putting on our students' shoes, we tried to answer simple yet essential questions that make sense for every procurement professional.- How to apply Agile methodology in procurement?- How to excel in strategic sourcing? - How to deliver more value?- How to work more effectively?Each section of our course should provide a few possible answers by offering concepts, techniques, and tools and trying them on practical cases. Then it's up to you to judge which solution - any or all of those - you can take to your office the next day upon finishing this course and optimize the ways of working. Key topics of this course include:1. Definitions of Agile. Iron Triangle of Project Management. The actual cost of Time-to-Market. Agile supplier selection. Fixed-scope negotiations.2. Reverse marketing. Strategic procurement vs. purchasing. Sourcing strategy. Alternatives to the RFP process.3. The evolution of the procurement process. TCO and value-based procurement. Sourcing levers. Value delivery.4. Buying channels. Spend profile analysis. Value stream mapping for business-process optimization. We will also propose a dozen practical exercises and cases to try these and decide what fits better.If this course succeeds, we will keep amending it with new concepts and exercises. Our duty in procurement is far from over, and we gain new experiences daily to share with the audience.

Overview

Section 1: Welcome Note and Introduction From the Course Author

Lecture 1 Author Credentials and Introduction

Section 2: How to Apply Agile Methodology in Procurement?

Lecture 2 Definitions of Agile

Lecture 3 Waterfall vs. Agile

Lecture 4 Revenue Dynamics one the Product Lifecycle

Lecture 5 Exercise 1: Time-to-Market and Revenue Loss due to Late Product Introduction

Lecture 6 Exercise 2: Iron Triangle applied to the legacy (Waterfall) and Agile project

Lecture 7 Agile Supplier Selection

Lecture 8 Fixed Scope Negotiations for Legacy Projects

Section 3: How to Excel in Strategic Sourcing?

Lecture 9 Reverse Marketing

Lecture 10 Strategic Procurement vs. Purchasing

Lecture 11 Exercise 3: Test Your Procurement Profile

Lecture 12 Sourcing Strategy

Lecture 13 RFP Alternatives

Section 4: How to Deliver Procurement Value?

Lecture 14 From Cost-Cutting to Value Delivery

Lecture 15 The Evolution of Supplier Selection Process

Lecture 16 Exercise 4: TCO of iPad delivery

Lecture 17 Exercise 5: Lowest Bid vs. TCO vs. Value-Based Evaluation

Lecture 18 Exercise 6: Sourcing Levers Applied to Corporate Mobile Subscription Contract

Lecture 19 Layers of Spend

Lecture 20 Exercise 7: How to Achieve the Long-Lasting Value Output?

Section 5: How to Work More Effectively?

Lecture 21 Tail Spend and Buying Channels

Lecture 22 Types of Buying Channels

Lecture 23 Category Instructions for Buying Channels

Lecture 24 Exercise 8: Spend Profile Analysis

Lecture 25 Exercise 9: Value Stream Mapping

Section 6: Final Quiz and Course Materials

Lecture 26 Course Materials

Procurement professionals looking for practical ways to buy better, deliver more value, and work efficiently,Procurement experts and newcomers seeking best-practice concepts and tools