Value-based Procurement
What you'll learn
- Understand the notion of value from various perspectives (e.g., price, relationship, competitive advantage, etc.)
- Examine the effects of procurement value on stakeholder work, supplier relationship management, and agility.
- Distinguish the value from efficiency and effectiveness.
- Review the evolution of the procurement process from the lowest bid to the value-based one
- Study some practical concepts, e.g., Best-Value Procurement, Value Stream Mapping, Reverse Marketing, VIPER model, etc.
- Conduct exercises on different aspects of value-based procurement
Requirements
- Basic understanding of procurement processes
Description
Procurement value became the second-popular buzzword in procurement after "agile."
Interestingly, the agile methodology also describes incremental value delivery. We suggest starting from this course before jumping onto the agile bandwagon.
Tremendous competitive pressures and an ever-lasting global crisis led to the focus shift from traditional savings to the holistic value delivery agenda.
Indeed, we all know what the value is. However, it's one of the most subjective topics.
Value needs to be more substantive. It is rather adjectival. It characterizes something or results from the application of something. It doesn't exist in its raw form; it's being created. It's a universal differentiator between good and bad things or actions.
Look at your bosses – some distinguish only the monetary value, while others care about relationships, sustainability, social contribution, etc. Procurement managers need to sense all these perceptions and transform them into objective and measurable outputs that genuinely matter to the broader stakeholder community.
Our course will carefully define the value from different perspectives and with the help of well-known and workable theories (e.g., dynamic capabilities, VIPER model, stakeholder work system, etc.) Then, we will suggest practical ways of creating and appropriating the value.
Our course includes a handful of exercises that help to understand the usability of proposed theoretical constructs and business concepts.
By the end of this course, you'll emerge with a clear understanding of procurement value and a robust action plan for creating and appropriating value in your organization. Whether you seek to enhance cost savings, strengthen relationships, or drive sustainability initiatives, this course equips you with the tools and knowledge to make a meaningful impact.
Enroll now and embark on a journey towards mastering procurement value – from theory to action!
Who this course is for:
- Procurement professionals willing to create and appropriate the value
- Procurement beginners and experts looking to organise their knowledge of value and apply it in practice
Instructor
- 4.2 Instructor Rating
- 53 Reviews
- 11,947 Students
- 4 Courses
Sergii Dovgalenko holds 22 years of executive procurement experience across the telco, aviation, and railway industries and various geographies, where he contributed to some significant global sourcing and transformation projects.
Sergii is interested in technology procurement, IT strategy, operational models, project management, and service delivery. He is the author of “The Technology Procurement Handbook: a Practical Guide to Digital Buying.”
Sergii is a Fellow and a licensed tutor of the Chartered Institute of Procurement and Supply Management (CIPS.)