Advanced Purchasing Skills

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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.

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

 

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Download the course brochure

Choose your Advanced Purchasing course

About the trainers

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.

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.

Upcoming Advanced Purchasing Skills Courses


Feb

20

Advanced Purchasing Skills – London, 20th – 21st February 2019

20th February 201921st February 2019


Mar

19

View the full forward schedule

Download the brochure

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 brochure now

Testimonials

“A great Seminar for every Chemical Sourcing Professional”

View all customer testimonials

Hear what James Ray has to say about what’s included in this course?

Advanced Purchasing Video