Procurement Manager — Procurement Technology & Tools
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What you'll learn:
[Description] - **Description:** Begin with a foundational understanding of procurement. Learn what procurement is, its significance within a business, and its core objectives. Understand the difference between procurement, purchasing, and supply chain management. Explore the different types of procurement (direct, indirect, services). Discuss the importance of cost savings, supplier relationships, and risk management. - **Resources/Activities:** - Read articles and watch introductory videos on "What is Procurement?" (Search on LinkedIn Learning, YouTube, or industry blogs). - Research the procurement functions of a company you know (e.g., Apple, Amazon, a local business). - Define key procurement terms in your own words (e.g., RFP, RFQ, Purchase Order). - **Expected Outcomes:** - Understand the basic concepts of procurement and its importance to business success. - Be able to differentiate between procurement, purchasing, and supply chain management. - Identify the core objectives and benefits of effective procurement.
Personal Notes:
What you'll learn:
[Description] - **Description:** Delve into the typical procurement process, outlining the key stages involved from need identification to contract management. Study the procurement cycle, focusing on its individual stages: need identification, sourcing, supplier selection, negotiation, purchase order creation, goods/services receipt, invoice processing, and payment. Learn the importance of compliance at each stage. - **Resources/Activities:** - Study a diagram of the procurement cycle (search online for "procurement cycle diagram"). - Simulate a simplified procurement scenario, mapping out each stage. - Review sample purchase orders and invoices. - **Expected Outcomes:** - Comprehend the sequential steps of the procurement process. - Understand the role of each stage in the procurement cycle. - Be familiar with common documents used in procurement (e.g., purchase orders, invoices).
Personal Notes:
What you'll learn:
[Description] - **Description:** Explore the landscape of procurement technology. Learn about the different types of procurement tools: e-sourcing, e-procurement, spend analysis, contract management, and supplier relationship management (SRM). Understand the benefits of adopting procurement technology: efficiency, cost savings, improved data visibility, and reduced risks. Discuss how technology supports compliance. - **Resources/Activities:** - Watch introductory videos on procurement technology and its benefits. - Research examples of different types of procurement tools (e.g., Coupa, SAP Ariba, Jaggaer). - Identify the features of each tool type. - **Expected Outcomes:** - Become familiar with the various types of procurement tools available. - Understand the key benefits of implementing procurement technology. - Be able to differentiate between the various tool types.
Personal Notes:
What you'll learn:
[Description] - **Description:** Focus on e-procurement systems, one of the most common procurement technology tools. Learn about the different features of e-procurement systems: catalog management, requisitioning, purchase order management, and invoice management. Understand the advantages of using e-procurement systems: streamlining processes, reducing manual errors, and improving spend control. - **Resources/Activities:** - Find and review product brochures or demos for at least two e-procurement software solutions. - Consider the user experience and core functions. - Explore the basics of e-procurement workflow processes. - **Expected Outcomes:** - Understand the key features and functionalities of e-procurement systems. - Recognize the benefits of using e-procurement systems. - Have a general understanding of e-procurement workflow.
Personal Notes:
What you'll learn:
[Description] - **Description:** Learn about e-sourcing and spend analysis tools. Study how e-sourcing tools can be used to identify potential suppliers, manage RFQs, and conduct online auctions. Understand the benefits of sourcing tools such as improved price discovery and supplier competition. Learn the importance of spend analysis: identifying spending patterns, optimizing purchasing, and identifying opportunities for cost savings. - **Resources/Activities:** - Explore the functionalities of a sample e-sourcing tool online (e.g. an open-source project). - Research how spend analysis is performed and identify key metrics. - Read case studies showcasing the use of e-sourcing or spend analysis tools. - **Expected Outcomes:** - Understand the functionality and benefits of e-sourcing and spend analysis tools. - Learn how these tools are used in the procurement process. - Be aware of key metrics used in spend analysis.
Personal Notes:
What you'll learn:
[Description] - **Description:** Explore the importance of supplier relationship management and contract management systems. Understand how SRM tools can be used to manage supplier performance, improve communication, and build strong relationships with suppliers. Learn how contract management tools help in managing contracts, ensuring compliance, and minimizing risk. Understand the key features and benefits of both types of tools. - **Resources/Activities:** - Research how SRM and contract management are integrated. - Study case studies of companies successfully using SRM. - Explore contract management tools by looking at their features. - **Expected Outcomes:** - Understand the functions of SRM and contract management. - Be able to identify the benefits of using both types of tools. - Understand the relationship between supplier relationships, contracts and business outcomes.
Personal Notes:
What you'll learn:
[Description] - **Description:** Discuss how technology is implemented in procurement: understand the basics of system selection, project planning, and change management. Consider the key steps in implementing any tool. Look into future trends in procurement technology, such as artificial intelligence (AI), blockchain, and automation. Understand how these technologies might affect the future of procurement. - **Resources/Activities:** - Research the challenges of implementing new software and the key to success. - Read articles about AI, blockchain, and automation in procurement. - Discuss the future trends with colleagues or other professionals. - **Expected Outcomes:** - Get an overview of technology implementation. - Understand the future trends of procurement. - Understand how technology can change the procurement landscape.
Personal Notes:
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