mind

Training%20Course%20on%20Finance%20for%20Procurement%20Professionals»

Training Course on Finance for Procurement Professionals In Nairobi and Mombasa; Kenya

Understanding finance concepts and tools, and their application in procurement processes is a prerequisite for procurement professionals serving in cross-functional teams. It is, therefore, essential that procurement professionals develop high levels of professionalism and increase their knowledge of finance as a means of promoting synergy between procurement outcomes and financial objectives of organizations. This course is designed to underscore the importance of finance concepts and tools, and how they impact upon the management of procurement processes and supply chains. It will also highlight the benefits of collaboration between finance and procurement functions within organizations.

Target group

Finance and Supply Chain Management Officers, Managers, Assistants and Specialists; User Departments, operational staff involved in developing and implementing procurement and supply chain budgets, policies and strategies; professional consultants; departmental heads and purchasing personnel and all other staff involved in Procurement.

Duration

5 days

Course Objectives

At the end of this training participants should be able to:

i.                    Demonstrate understanding of the scope, methodology and language of the finance function.

ii.                  Use financial tools to make appropriate buying decisions.

iii.                Select and apply appropriate financial information for different purposes, such as appraisal of suppliers, capital projects and decision-making.

iv.                 Present themselves and their decisions more credibly to colleagues.

Course Content

Module I: Financial Management Tools

a.       Understanding Income Statements

b.      Balance Sheets

c.       Profit Analysis-Cost-Volume-Profit Analysis

d.      Break-Even Analysis

e.       Ratios

f.        Evaluating Financial Management Practices

Module II: Non-Financial Factors in Decision Making

a.       What constitutes financial and non-financial factors?

b.      Impact of non-financial factors on businesses.

c.       Impacts of ignoring non-financial factors

d.      Limitations of non-financial information

e.       Non-financial information in reporting

f.        Strategic issues for investment appraisal.

Module III: Financial Budgeting and procurement planning interface

a.       Procurement planning within the budgetary process -an overview

b.      Budgeting for operational requirements: procurement function’s inputs

c.       Budgeting for capital requirements: procurement function’s inputs

d.      Effect of actual procurement expenditure on the budget

e.       Contribution of procurement market research to sustainable budget

f.        Effect of lowest and highest prices on assets maintenance budget

g.       Impact of framework contract and the operational budget

h.      The relationship between inventory management and the annual financial statements

Module IV: CapEx (Capital Expenditure) Procurement

a.       Why incur capital expenditure?

b.      Planning for CapEx procurements – key considerations

c.       CapEx v/s OpEx (Operational Expenditure) procurement

d.      Financial treatment of capital expenditures-raise in assets; net worth

e.       Sources of finance for capital expenditures

f.        Expenses to be capitalized

 

Module V: Role of procurement functions in investment decisions

a.       Investment styles

b.      Asset allocation

c.       Diversification

d.      Investment performance measurements

e.       Important factors for procurement practitioners to note that make or break an invest

Module VI: Financial Risk in Procurement

a.       Risks in identifying the need and planning the purchase

b.      Risks in developing specifications

c.       Risks in selecting the purchasing method

d.      Purchasing documentation risks

e.       Risks in inviting, clarifying and closing offers

f.        Risks in evaluating offers

g.       Selecting the successful tenderer risks

h.      Risks in negotiations

i.        Risks in Contract Management

j.        Financial risks in disposal

Methodology

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

Key Notes

i. The participant must be conversant with English.

ii. Upon completion of training the participant will be issued with an Authorized Training Certificate

iii. Course duration is flexible and the contents can be modified to fit any number of days.

iv. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

v. One-year post-training support Consultation and Coaching provided after the course.

vi. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.

Start Date: 03/18/2019
End Date: 03/22/2019

Registration for this course has been closed. Please click ALL COURSES to view more future courses

Course Description

Course Duration: 5 days

Training Center: Datastat Research Center

Start Date: 03/18/2019

End Date: 03/22/2019

Registration for this course has been closed. Please click ALL COURSES to view more future courses

Courses

Discover Your Path to Excellence with Datastat's Diverse Courses – Elevate Your Skills with Expert-Led Learning
0 results