Procurement and Supply Management Fundamentals: Purchasing, Sourcing and Inventory – London, 15–19 Feb 2027

Programme overview

Technical depth: Practitioner · Practical mode: Case study

Introduction

Purchasing that runs on habit rather than method costs organisations more than they notice: fragmented spend, quotations compared on price alone, unclear delivery terms, stock-outs alongside excess inventory, and purchase orders raised after the invoice arrives. This Core Concept course builds the core competence of procurement and supply staff across the full cycle, from spend analysis and supplier appraisal to ordering, delivery terms, inventory control and supplier performance. Participants apply each tool to case material from several sectors and produce a Procurement and Supply Improvement Plan for a spend area in their own organisation.

Course Objectives

• Map the procurement and supply cycle in the organisation and locate the control gaps in its procure-to-pay process
• Analyse spend by category and supplier and position categories on the Kraljic Matrix to choose a sourcing approach
• Prepare requests for quotation, appraise suppliers and compare offers on total cost of ownership rather than price
• Apply Incoterms 2020 rules, inventory models and reorder policies to secure supply at the right cost
• Monitor supplier performance and supply risk with KPIs and a risk register, and act on the results
• Produce a Procurement and Supply Improvement Plan for a defined spend area

Target Audience

• Buyers and purchasing officers who issue requests for quotation and purchase orders
• Procurement and supply staff taking on sourcing and supplier management responsibilities
• Stores, inventory and materials planning staff responsible for stock levels and replenishment
• Logistics and supply coordinators handling inbound shipments and delivery terms
• Requisitioners in operations, projects and facilities who initiate purchases
• Accounts payable and finance staff responsible for invoice matching and purchasing controls

Course Outline

Day 1: Procurement and Supply Foundations

• CIPS Procurement and Supply Cycle Stages
• Five Rights of Purchasing: Quality, Quantity, Time, Place and Price
• Direct and Indirect Spend Classification with UNSPSC Codes
• Spend Analysis Cube by Supplier, Category and Business Unit
• Procure-to-Pay Process Map and Current-State Assessment

Day 2: Procurement and Supply Models and Standards

• Supply Positioning with the Kraljic Matrix
• SCOR Digital Standard Plan, Order and Source Processes
• Incoterms 2020 Rules and the Transfer of Risk and Cost
• ISO 20400:2017 Sustainable Procurement Principles
• Total Cost of Ownership Model

Day 3: Core Purchasing and Sourcing Skills

• Requisition, Purchase Order and Three-Way Match Controls
• Request for Quotation and Request for Proposal Templates
• Supplier Appraisal Questionnaire and Scoring Sheet
• Quotation Comparison and Price Breakdown Analysis
• Purchase Negotiation Preparation Using BATNA and ZOPA

Day 4: Inventory, Performance and Supply Risk

• ABC Inventory Classification and Economic Order Quantity
• Safety Stock and Reorder Point Calculation
• Supplier Performance KPIs: On-Time-In-Full, Quality and Cost
• Supply Risk Register and Single-Source Mitigation Under ISO 31000:2018
• Maverick Spend and Segregation of Duties Controls

Day 5: Case Work and the Improvement Plan

• Manufacturing Spare Parts Case Study: Stock-Outs and Excess Inventory
• Public Service Consumables Case Study: Fragmented Spend and Maverick Buying
• Spend and Kraljic Analysis for an Own Spend Area
• Procurement and Supply Improvement Plan Drafting
• Peer Review Panel and Plan Presentation

Skills You Will Gain

• Spend Analysis
• Supply Positioning
• Supplier Appraisal
• Quotation Evaluation
• Inventory Planning
• Purchase Order Control
• Supplier Performance Monitoring
• Supply Risk Identification

Why Attend This Course

• Return to work with a Procurement and Supply Improvement Plan for a real spend area, already reviewed by peers
• Explain to budget holders why a purchase needs a different sourcing route, using spend data rather than opinion
• Reduce stock-outs and excess stock with reorder settings calculated for your own items
• Compare purchasing and supply practice with colleagues from other sectors and countries

Conclusion

Sound procurement and supply rests on a small set of disciplines applied consistently: knowing where the money goes, choosing the right approach for each category, comparing offers on total cost, agreeing clear delivery terms and holding the right stock. This course builds those disciplines in sequence, from the procurement cycle and its models to daily purchasing, inventory control and supplier performance. The final day applies them to a real spend area, and participants return with a Procurement and Supply Improvement Plan they can start implementing straight away.