Overview

How can you benefit from this course?

Recent turbulence in global petrochemicals has demonstrated the sensitivity of key markets to factors such as crude prices and changing sentiment. This volatility has reaffirmed the importance of having a clear grasp of the value stream, your costs, and the factors influencing prices, to make calculated purchasing decisions in this sector.

This advanced one and a half day course is designed to build upon your existing purchasing skills and understanding, equipping you with the analytical tools and techniques you need to act confidently in the volatile petrochemicals markets.

Download the agenda or enquire about the course now

Choose your Advanced Purchasing course

Past companies that have booked with us:

Agenda Day One

REGISTRATION AND REFRESHMENTS

Welcome and Introduction

Understanding the petrochemicals industry and markets

Key petrochemical value chains and their inter-relationship
Market Intelligence
Market price setters

REFRESHMENTS

Analytical approaches to purchasing

Opportunity Analysis – a tool for identifying and ranking opportunities based on return, effort and probability of success (Group exercise)
Examples of formulas used in petrochemicals purchasing

LUNCH

Analytical approaches to purchasing continued

Price history vs. market or formula
Understanding value chain relationships
Cost Models, price forecasting and margins
Contract Model – legal & mathematical
Price versus total cost

REFRESHMENTS

Strategy development

Company strategy
Commodity strategy
How contract prices are used
Risk management
Getting the most from your suppliers
Supplier viability & natural disasters
Strategy alignment via supply / sales agreement
Purchasing staffing

Summary and end of day one

Agenda Day Two

Recap previous day

Questions on topics covered
Questions on topics NOT covered that you would like to get out of this course

Execution

Alignment with strategy
Tracking to plan
Purchasing procedures

REFRESHMENTS

Execution continued

RFQ (Request for Quote) process
Supplier development = competition; Supplier Score Cards with weighting that reflects impact on cost
Quarterly supplier meetings – to provide feedback
Negotiation

Evaluation – Performance Metrics

PPV – tracking to budget – short term performance
YoY price inflation / deflation vs. index – longer term performance
Price – volume – mix analysis
Individual metrics aligned

Internal Purchasing Training

Simple, effective way to save money.

REFRESHMENTS

END OF COURSE

LUNCH

Enquire about the course now

Download the course brochure

Choose your Advanced Purchasing course

James Ray – Senior Consultant, ICIS

Having started on the shop floor and worked up through the ranks of the plastics industry, James Ray brings a unique blend of technical, managerial and analytical experience to his consulting role at ICIS.

He has business advisory experience in the areas of benchmarking, operation cost modeling and activity based costing systems, planning, scheduling and project management, risk assessment, supply and demand analysis, alternate value streams and price forecasting. Prior to working for ICIS, James worked for private industry (primarily Capital Management) in manufacturing, converting & recycling polymers for blow molding, extrusion and injection molding as well as textiles. His focus was on improving profitability by working smarter and employing strategies for reducing raw material costs using market intelligence and benchmarking, establishing raw material contracts and aligning with commercial contracts, eliminating waste via Lean Manufacturing and implementing process improvements using Six Sigma Methodology. James holds a degree in computer science from the University of Texas.

Testimonials from past delegates of this course

“A great Seminar for every Chemical Sourcing Professional”

Senior Purchaser, Thermofisher

Training course fees

If you require fees information, please contact us via icis.training@rbi.co.uk

In-House Training

ICIS works alongside our clients to create bespoke training courses that mould our expertise and your specific needs. We will pinpoint the current expertise of your employees, areas for improvement, and your business goals, and develop a training course that will bring tangible benefits to your business.

Our custom training courses are delivered as interactive workshops, focusing on the products, concepts and issues that are most relevant and beneficial to you.

Save money on transportation and accommodation, with training at a convenient location
Flexibility – you determine the length and duration of the sessions
Interactive workshops with hands-on exercises, to reinforce key skills, techniques and concepts
Take away the course materials, presentations and background information for future reference

To enquire about in-house training for this course, please click here and a member of our team will get back to you.

Training homepage

https://www.icis.com/training/