Course Overview

Several key decision-making processes fail to deliver the expected results during procurement analytics. This is due to the lack of tools and systems to do these analytics. Many businesses cannot gather and evaluate this data. Procurement Analytics’ value extends far beyond spending to all aspects of the Source-to-Pay (S2P) process. Businesses are taking notice of the breadth of data available to support business decisions at all levels. Procurement analytics can help you manage risk and evaluate the performance of your vendors.

This training course will empower you with complete information and knowledge about procurement analytics and understand overall performance from an operational, transactional, and supplier standpoint. Additionally, through this course, you would acquire the skills and capabilities to work in any aspect of Procurement Analytics, thus broadening avenues for greater opportunities promoting career growth.

Course Objectives

This course’s main goal is to empower professionals in the procurement sector to:

• Understand why analytics is essential to the procurement process and its impact
• Know the challenges faced in the procurement process and how analytics can help make better decisions
• Review several procurement analytics tools and techniques
• Develop cost models to assess the competitiveness of supplier pricing
• Adopt Microsoft Excel’s advanced decision-making features for procurement analysis
• Create target pricing models as part of your negotiation approach
• Understand the various statistical techniques employed in procurement analytics
• Understand the concept of programs management by analysing procurement data
• Oversee the development of necessary procurement projects for an efficient decision-making process

Who Should Attend?

• Procurement officials in both public and private organisations
• Employees in public and private sectors who work with procurement data
• Non-procurement experts managing procurement activities
• Procurement Specialists looking to update their domain knowledge about procurement analytics
• Managers and Business professionals who assist procurement specialists in Operations and decision making
• Anyone interested in learning more about procurement analytics

Course Outline

The course covers the following topics regarding being a Public sector procurement specialist:

Module 1: Introduction to Procurement Analytics

• General Overview of procurement analytics
• Significance of Procurement Analytics
• Basics of Data in Procurement
• The Data Challenge in procurement analytics
• Building insights from Procurement Data
• Classification of Procurement Data
• Challenges faced in procurement analytics

Module 2: Introduction to Data Analytics

• Overview of Data Analytics
• Types of analytics and their relationships
• Data Pre-processing
• Conducting Exploratory Data Analysis
• Basic Practices for data visualisation
• Building Dashboards
• Identifying and analysing Key Performance Indicators
• Mitigating the Risks involved in Procurement

Module 3: Program Management

• Tools and Techniques for tracking of Procurement projects
• Management of Procurement tasks and activities
• Activities affecting procurement projects
• Creating progress reports for procurement projects
• Identifying performance risks across procurement projects
• Market trends

Module 4: Performance Evaluation

• Evaluating and analysing performance data on suppliers
• Evaluating operational performance (buyers on workload, productivity, procurement cycle time)
• Management tools for evaluation
• Techniques for data analysis during performance evaluation
• Identifying performance risks across multiple dimensions
• Mitigating performance risks.

Module 5: Software for Procurement Analytics

• Introduction to various software used for procurement analytics
• Typical features and functionality of an analytics software
• BI Tools and Advanced Analytical Tools
• Procure-to-pay and Strategic sourcing tools
• Introduction to Procurify and a case study

Module 6: Procurement Analytics with Microsoft Excel

• Introduction to Microsoft Excel for procurement analytics
• Overview of cost models
• Developing cost models
• Assessing supplier pricing
• Developing weighted average supplier scorecards
• Application of Macros for Strategic purchasing work

Module 7: Procurement Analytics with Microsoft Excel II

• Spend Analysis
• Development of charts to compare bids and track performance
• Pivot Tables, Functions, and Subtotals for purchasing data
• Developing Target Pricing Models
• Improving Negotiation strategies through target costing models
• Filtering, Conditional Formatting, and VLOOKUP

Module 8: Statistical Analysis

• Measures of Central Tendency
• Measures of Variance
• Confidence Interval
• Skewness
• Normalisation through Log Transformation

Module 9: Statistical Analysis II

• Hypothesis Testing (One-tailed test)
• Hypothesis Testing (2-tailed test)
• Predictive Analytics for decision making

Module 10: Business Analytics

• Understanding decision making in business
• Maturity Stage in Analytics
• Analytics Techniques in Use
• Analytics Lifecycle
• Data Visualization
• Case Study

General Notes

• All our courses can be Tailor-made to participants' needs
• The participant must be conversant in English
• Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.
• Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)
• Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule
• Course duration is flexible and the contents can be modified to fit any number of days.
• The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.
• Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.
• Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.
• One-year free Consultation and Coaching provided after the course.
• Register as a group of more than two and enjoy a discount of (10% to 50%)
• Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.
• For any inquiries reach us at training@fdc-k.org or +254712260031
•  Website: www.fdc-k.org