Value-Based Procurement

What you'll learn
Understand the notion of value from various perspectives (e.g., price, relationship, competitive advantage, etc.)
Examine the effects of procurement value on stakeholder work, supplier relationship management, and agility.
Distinguish the value from the efficiency and effectiveness.
Review the evolution of procurement process from the lowest bid to the value-based one
Study some practical concepts, e.g., Best-Value Procurement, Value Stream Mapping, Reverse Marketing, etc.
Conduct exercises on different aspects of value-based procurement
Requirements
Basic understanding of procurement processes
Description
Procurement value became the second-popular buzzword in procurement after "agile."Interestingly, the agile methodology also describes incremental value delivery. So, we suggest starting from this course before jumping onto the agile bandwagon.Tremendous competitive pressures and an ever-lasting global crisis led to the focus shift from traditional savings to the holistic value delivery agenda.Indeed, we all know what the value is. However, it's one of the most subjective topics.Value needs to be more substantive. It is rather adjectival. It characterizes something or results from the application of something. It doesn't exist in its raw form; it's being created. It's a universal differentiator between good and bad things or actions.Look at your bosses – some distinguish only the monetary value, while others care about relationships, sustainability, social contribution, and many more. Procurement managers need to sense all these perceptions and transform them into objective and measurable outputs which genuinely matter to the broader stakeholder community.Our course will carefully define the value from different perspectives and with the help of well-known and workable theories (e.g., dynamic capabilities, VIPER model, stakeholder work system, etc.) Then we will suggest practical ways of creating and appropriating the value.Our course includes a handful of exercises that help to understand the usability of proposed theoretical constructs and business concepts.Ideally, at the end of this course, your understanding of the procurement value and methods of its creation and appropriation will transform from unconscious perceptions to clear definitions and action plans.
Overview
Section 1: Procurement Value Basics
Lecture 1 Procurement Value Evolution
Lecture 2 Value-based Pricing
Lecture 3 Value Creation and Appropriation
Lecture 4 Exercise on Value Creation and Appropriation Mapping
Lecture 5 Procurement Value Curve
Lecture 6 Dynamic Capabilities Framework
Lecture 7 Value Creation Through Stakeholder Work System
Lecture 8 VIPER Model
Lecture 9 Efficiency, Effectiveness, and Value
Lecture 10 Section Summary
Section 2: Value-based Procurement in Practice
Lecture 11 From Lowest Bid to Value-based Procurement
Lecture 12 Changes Required to Exercise Value-based Procurement
Lecture 13 Exercise: Lowest bid vs. TCO vs. Value-based evaluation of air conditioners
Lecture 14 Exercise: Value-based Procurement of an Electronic Queue System
Lecture 15 Reverse Marketing
Lecture 16 Creating Value in Negotiations
Lecture 17 Value-add Area in Negotiations
Lecture 18 Best-Value Procurement Process
Lecture 19 Value Stream Mapping
Procurement professionals willing to create and appropriate the value,Procurement beginners and experts looking to organise their knowledge of value and apply it in practice

Homepage

https://www.udemy.com/course/value-based-procurement/

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