COURSE OVERVIEW

  This practical and highly-interactive course includes real-life case studies and exercises where participants will be engaged in a series of interactive small groups and class workshops.
 
This course is designed to provide participants with a complete and up-to-date overview of the Fundamental Supplier Relationship Management Skills. It covers the importance of SRM in the petroleum industry, strategic versus tactical supplier relationships and aligning SRM with organizational objectives; the criteria for supplier selection and evaluation, steps in the pre-qualification process, risk assessment and mitigation strategies and regulatory and compliance considerations; the supplier assessment reports and maintaining a robust supplier database; and the buyer-supplier dynamics and ethical and legal aspects of SRM.
 
Further, the course will also discuss the supplier performance evaluation techniques, supplier performance analysis and strategies for supplier development; the criteria for segmenting suppliers, and tailoring relationship strategies per segment; the resource allocation based on supplier importance and leveraging technology in SRM covering SRM software solutions and tools, automation of supplier management processes, real-time monitoring and analytics; and integrating SRM with other enterprise systems.
 
During this interactive course, participants will learn the supplier risks, risk mitigation plans, monitoring and responding to risk events and business continuity planning with suppliers; the innovation and continuous improvement with suppliers, negotiation and contract management and building long-term strategic partnerships; and the SRM performance metrics, SRM audits and assessments, reporting SRM outcomes to leadership and continuous improvement of SRM practices.