Advanced Course – Financial Aspects for Procurement Professionals

Enhance your procurement capabilities with our course on Financial Aspects for Procurement Professionals. This course offers a comprehensive understanding of essential financial principles relevant to procurement, including cost structures, pricing strategies, and performance metrics. Learn advanced techniques for cost analysis, such as total cost of ownership (TCO) and life-cycle costing, to make informed procurement decisions. Master the skills needed to evaluate financial risks and forecast returns on investment (ROI), ensuring alignment with your organization’s financial goals. Discover best practices for budget management, cash flow control, and tracking key financial metrics and KPIs. Additionally, gain insights into commodity markets and learn how to navigate price fluctuations while structuring contracts effectively.

Join us to develop a robust financial foundation that will empower you to drive strategic procurement success!

Delegates Will Learn:

• The Financial Principles Relevant to Procurement: Comprehensive understanding of key financial concepts, including cost structures, pricing strategies, and financial performance metrics.
• Techniques for Cost Analysis and Management: Advanced methods for evaluating total cost of ownership (TCO), cost-benefit analysis, and life-cycle costing in procurement decisions.
• Evaluating Financial Risks and Returns in Procurement Decisions: How to assess financial risks, forecast returns on investment (ROI), and make data-driven procurement choices that align with organisational financial goals.
• Budget Management and Financial Forecasting: Best practices for developing and managing procurement budgets, including forecasting demand, managing cash flow, and controlling expenses.
• Understanding Financial Metrics and KPIs in Procurement: How to track and report on key financial indicators, such as procurement savings, cost avoidance, and supplier financial health.
• Financial Ratios in Procurement: Understanding and applying key financial ratios, such as profitability ratios, liquidity ratios, and leverage ratios, to assess the financial health of suppliers and inform procurement decisions.
• Commodity Markets: Overview of commodity markets, including how fluctuations in commodity prices impact procurement strategies, and techniques for managing risks associated with commodity price volatility.
• Advanced Contract Financials: Techniques for structuring and negotiating financial terms in contracts, including payment terms, price adjustment clauses, and financial penalties for non-compliance.

Who will benefit from attending this course?

• Senior procurement professionals
• Procurement managers
• Financial officers involved in procurement

Does the location/date/time of this course not work for your organisation? We’re flexible, contact us about bringing the training to your facility through in-house or bespoke courses at a date and time that is most convenient to you!