Procurement and Contract Management Course at Institute of Development Management (IDM)

Procurement and Contract Management Course at Institute of Development Management (IDM)

What is Procurement and Contract Management Course?

This course is a comprehensive introduction to managing procurement activity in a practical manner to help achieve real value for money. It is available as e-learning and can be delivered in-house.

Procurement and Contract Management Course at Institute of Development Management (IDM)

This usually means that they need to have a good understanding of business operations, business law, and people skills. Therefore, a degree in business would be the most beneficial as it usually covers the basics of business law and negotiations.

Frequently Asked Questions

What does procurement and contract management entail?

Procurement and contract management involve the identification, selection, negotiation, and management of business relationships with suppliers and vendors. These processes are designed to help organizations acquire materials or services at the lowest possible cost and in a way that meets their specific needs.

What does a procurement officer do?

what is a procurement officer? As a procurement officer, you procure products and services for your company. Your job is to ensure the organisation spends money wisely on purchasing raw materials and services to achieve its goals. You assess products for quality and negotiate the best prices with suppliers.

What are 3 skills for procurement manager?

But key skills required by all procurement professionals are:

  • Great relationship management.
  • Strong negotiation skills.
  • Impeccable time-management.
  • Strategic thinking.
  • Ability to adapt to change.
  • Understanding of risk management.
  • Understanding of and ability to enhance sustainability.
  • Understanding of the global market.

What is the work of contract management?

Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.

What are the benefits of contract management procurement?

The Benefits of Procurement Contract Management

Improving Compliance.
Minimizing Risks.
Resolving Document Management Issues.
Helping Manage and Update Renewal Dates.
Improving Audit Execution.
Enhancing Contract Visibility.
Optimizing Approval Times.
Absolving Unnecessary Expenses.

What is an example of contract management?

Contract management is the process of handling and carrying out a contract’s obligations for vendors, clients, employees or others. Some everyday examples of contracts include apartment leases, employment and terms of use for software.

What are the 4 main roles of procurement?

The four main roles of procurement are sourcing, negotiation, contract management and supplier relationship management. These activities require a strong understanding of market trends, organizational objectives and supplier capabilities to ensure success.

What are four duties of a procurement officer?

The procurement officer’s responsibilities include supervising staff, maintaining positive supplier relations, evaluating supply options, approving purchases, and maintaining accurate records. To be successful as a procurement officer you should have an analytical mind and keep up with product and service trends.

Is contract management part of procurement?

Contract management is an integral part of any procurement cycle. Purchasing and Procurement firms may reduce vendor prices, execute contracts with new parties faster, boost compliance, mitigate risk, and effectively manage internal and external relationships by implementing contract lifecycle management software.

What is the role of procurement contract administration?

Create and manage procurement contracts for awarded suppliers in a negotiation. Manage the negotiation open and close dates, add suppliers to the invitation list, update the collaboration team, and other such operations. Analyze, score, and shortlist negotiation responses. Update draft supplier negotiations.