Operational Auditing:- Evaluating procurement and sourcing

Course overview: 

• Explore the imperatives of strategic sourcing and procurement, types of procurement, different sourcing and procurement strategies and methods, and all facets of the procurement operating model

• Discover the integral role of sourcing management and procurement in the supply chain, and review the potential effect of emerging sourcing and procurement risks, trends, and best practices

• Learn and apply an audit strategy to analyse and evaluate the efficiency andeffectiveness of an organization’s sourcing and procurement strategies, operations,supplier management practices, and supplier performance.

Course outline:

The Frontier of Strategic Sourcing and Procurement

• Utilize knowledge of procurement and supply base managementstrategies, operations, and practices in the business environment 

• Discuss the strategic imperatives of sourcing and procurement 

• Summarize the differences between direct and indirect procurement and the attributes of each

• Debate the benefits and potential challenges associated with different sourcing strategies 

• Outline the advantages and potential problems of different procurement strategies andmethods 

• Explain the importance of key stages within the sourcing process and supplier relationship management 

• Employ knowledge of procurement operations and processes to help others expand their knowledge base 

• Illustrate how technology can improve the efficiency, effectiveness, and quality of procurement operations

Beyond Procurement Operations 

• Determine the impact of current and emerging risks, trends, and practices on the organization’s procurement and supply basemanagement capabilities, operations and practices

• Point out the potential benefits and challenges in responding to emerging sourcing, procurement, and supplier management trends on existing operations andmanagement practices

• Evaluate the effect of risks on sourcing and procurement strategies, plans, operations,management, and performance

 The Operational Audit: Sourcing, Procurement, and SupplierManagement

• Devise alternative solutions to improve the efficiency and performance effectiveness ofprocurement and supplybase strategies, operations and managementpractices 

• Define the key objectives and potential outcomes of a sourcing and procurement audit from a strategic and operational perspective

• Evaluate the efficiency and effectiveness of the organization’s sourcing and procurement strategies, procurement organization structure, and people

• Appraise the efficiency, effectiveness, and adaptability of the organization’s sourcing,procurement, and suppliermanagement operations and processes

• Assess the quality and effectiveness of supplier performance