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Finance for Procurement and Logistics Personnel - Reduce Risks in Contracts
The financial appraisal in the procurement and logistics process is to analyse a supplier’s financial position and determine the level of risk that it would represent to the Organisation - having regard to the contract requirement and value, criticality, and the nature of the market. The assessment of risk should be based on sound business judgment rather than just the mechanistic application of financial formulae
Objective
The purpose of this module is to provide participants with the information and knowledge to appraise the financial situation of the suppliers and then monitor and improve their performance.
Outline
It may cover, but not be limited to, the following:
- Supplier Appraisal
- Methods of Supplier Appraisal
- How to select criteria to appraise suppliers?
- Evaluation of Appraisal results
- Appraisal Process - Financial Appraisal
- Evaluate and assess financial statements of the suppliers and customers and relate them back to the business
- Compare the value and relevance of financial information in the context of the decision-making process for evaluation and selection of supplier and service providers
- Use the wide variety of finance and accounting terminology
- Propose financial management tools and techniques and be able to apply these in relation to the total procurement and supply chain process - Ratio Analysis, ROI, NPV and Payback
- Evaluate the elements that make up a complex business case for a capital acquisition, including downstream maintenance, service provisions for the life of the acquisition, and disposal.
Who should attend
This course is designed for junior, middle and senior managers that are involved in sales and marketing or procurement and supply. It is also useful for those personnel who are engaged in procurement fixed assets and capital goods for their organisations.
Profile of Pavan Sharma
Pavan Sharma is an expert in procurement, supply chain management, industrial engineering and process improvement in manufacturing and services. He has over 25 years experience as a top executive working in production, quality, logistics and procurement functions in automotive, consulting and logistics companies.
In the last 5 years, Pavan has trained over 3000 people from more than 100 different private and public sector companies in the region. Some of the clients include public agencies and Ministries in Singapore; the Ministry of Finance, the Ministry of Defence in Singapore and Brunei, DSTA, Shell, CNOOC, SembCorp Logistics, Nestle, SUTD, A Star and dozens of others. He is a Chartered Member of the Chartered Institute of Logistics and Transport and Member of the Chartered Institute of Procurement and Supply.
Pavan holds a Masters Degree in Business Administration, a Bachelor of Engineering in Industrial Engineering and Post Graduate Diploma in Industrial Engineering. He has also completed the CIPS UK Level 6 Professional Diploma in Procurement and Supply. He is a Member of the Beta Gamma Sigma, an International Honors society that recognizes outstanding scholastic achievement. Pavan is also a qualified project manager and holds the PMP certification of the Project Management Institute.
