Procurement and Inventory Management
This training programme aims to equip learners with skills and knowledge in managing inbound material processes, procurement and inventory management functions in an organisation. Learn to execute procurement function and inventory management effectively, which will determine the success of an organisation.
At the end of the training programme, the learner will be able to:
- Understand the strategic aspect of procurement and strategize procurement functions.
- Acquire inventories to meet a company's basic needs for goods and services.
- Learn effective negotiation techniques, strategies for a negotiation and cost-reduction techniques.
1. Strategic Roles of Procurement
- Definition of Procurement, Manage the Purchasing Cycle, etc.
2. Value Alignment with the Business Strategies
- Aligning with Business Strategies, Aligning with Forces in the Industry, etc.
3. Inventory Management
- Types of Purchased Items, Functions of Inventory, Inventory Management, etc.
4. Negotiation In Procurement
- Negotiation in Procurement, Negotiation Stages, etc.
5. Cost Reduction Techniques
- Purchasing Cost in a Glance
- Direct materials, Indirect Materials, Price vs Cost Analysis vs Total Cost Analysis, etc.
6. Mini Case Study
Who Should Attend?
Suitable for procurement/warehouse managers/executives, and finance/accounts managers/executives who deal with Source to Settle Process.
SMF Member: $520
Course fees before GST
Note that purchases of goods and services from GST-registered businesses before 1 Jan 2023 will be subject to GST at 7%, and purchases on or after 1 Jan 2023 will be subject to GST at 8%.
Completed PSLE and are able to speak, read and write in basic English
1. All notice of transfer/withdrawal / deferment must be given in writing and submitted at least 2 weeks prior to course commencement.
2. An administrative fee of $60 (GST inclusive) will be imposed if notice is received less than 2 weeks.
3. If notice of withdrawal is received:
- At least 1 week before commencement of the course, a 20% of the full course fee will be charged. For government-funded course, a 20% of full course fee before funding will be charged.
- Less than 1 week before commencement of the course, a 30% of the full course fee will be charged. For government-funded course, a 30% of full course fee before funding will be charged.
- No show on the scheduled date, a full course fee will be levied. For government-funded course, a full course fee before funding will be charged.
4. For all government-funded programmes (WSQ & Non-WSQ), funding is only applicable to:
- Singapore Citizens or Singapore Permanent Residents.
- Participants who have achieved at least 75% attendance and passed all required assessments.
- Full course fee will be charged to participants who fail to meet the above-mentioned criteria.
5. Certificates or Statement of Attainment or Certificate of Attendance will only be issued to participants who have achieved 75% attendance and undergo assessment (if applicable).
6.When a course is cancelled, fails to commence or fails to complete under unforeseen circumstances, participant is allowed to defer the intake at no cost or withdraw from the course; under such situation, a full refund of the advance payment will be given.
7. Notice of change in participant’s name must be given in writing, no less than 5 days prior to course commencement.
8. SMF reserves the right to change the venue, cancel or postpone the event without prior notice and full refund will be given under such circumstances. Such modifications shall become effective immediately upon the posting thereof. Please approach your account manager for more queries.