Procurement competence in Asset intensive businesses
- Course objectives: Overview of asset procurement and management of downstream contracts.
- Target audience: Procurement teams and asset managers seeking best practices.
- International procurement: Benefits, trends, regulatory framework, and Incoterms.
- Managing inventory: ABC analysis, inventory planning approaches, and demand systems.
- Day One: Purchasing assets, managing tenders, and selecting suppliers.
Overview
This 3-day course provides an overview of asset procurement for buyers in asset-intensive environments. It covers purchasing assets, managing tenders, selecting suppliers, total life cost basis, setting up contracts, managing performance, international procurement, regulatory frameworks, Incoterms, buying from abroad, and managing inventory. The course aims to equip procurement teams and managers with current best practices in asset procurement and downstream contract management.
Who should attend
Procurement teams, managers, specifiers
Course Content
Course duration: 3 Days
Course running order
Day One
Purchasing Assets
What is an asset?
Financial definition
Why are they important to the enterprise?
What sort of assets do we buy?
Managing tenders for assets
The importance of specification
Getting the specification right? – What should it include? What is buying’s role in the specification process?
Using performance specifications to increase our options for supply
What about our legacies?
Seeking and selecting suppliers
Finding suppliers in a worldwide market
Appraising suppliers
What sort of things should we look for?
Tendering on a total life cost basis.
What is total cost of ownership or total life cost?
Why does it matter?
Evaluating offers on a total life cost basis.
Day Two
Setting up the contracts
What should we include?
What terms?
What relationship do we want? (How do we decide?)
Quality considerations?
Shipping considerations
Installation commissioning
Ongoing maintenance
Managing the performance
Project management tools and approaches
Using project plans project charts
Visits
Monitoring performance
Checking on quality
Managing the ongoing relationship
Buying spares
Upgrades?
Disposal
Maintenance
Day Two:
International Procurement
The benefits of buying from abroad
Some of the trends in the global market
The globalisation of the international oil supply market
Globalisation of trade in the world
What is happening to the Arab states?
The regulatory framework for international procurement
WTO and GATT
What effect is it having in the world?
What effect might it have on UAE?
Incoterms
What are they?
Why do we need them?
How can we use them?
Buying from abroad
Modes of transport
Some of the culture and language issues
International supply chain issues
Currency
Logistics risk
Legal frameworks
The role of freight forwarders, import brokers, agents, distributors and overseas representatives
Day Three:Managing Inventory
What is inventory?
Using ABC analysis to analyses and select inventory planning approaches
Planning the use and replenishment of inventory
Independent demand
Dependent demand
Dependent Demand Inventory systems
MRP
ERP
JIT / Kanban
Independent Demand Inventory systems
Fixed Lot order
Re-order point control – “mini-maxing”
Economic Order Quantity
Re-order quantity
Independent demand service levels
How do others do?
The UK North Sea Oil sector
The retail industry
Course Objectives
To give buyers in an asset intensive environment an overview of all aspects of asset procurement including the set up and management of the associated downstream maintenance, repair, and operate contracts
Who should attend?
Procurement teams and related managers / specifiers of assets requiring development and exposure to current best practice in this area of their business
Duration / Fees
A 3-day single manned course
