Tag Archives: contracts and procurement course

Take up More Challenges in your Profession


In today`s fast moving times, it is essential for professionals to be well informed and aware of the latest updates in any industry. Take an example of Procurement. This involves making buying decisions under conditions of scarcity. The professionals need to have through knowledge of this field to be successful in their jobs, be it in public or private sectors. The primary step begins with doing the professional courses – either classroom training or eLearning modules. Depending upon one`s requirement, the course duration can vary from 1 day to several weeks.

These courses build on the basic knowledge a participant possesses. The complete life cycle from planning to payments are taught in a simplistic manner by highly experienced faculty. The practical training is imparted by leading professionals who are employed in different public sector organizations.

A few benefits one gets on doing these courses are –

  • An employee improves his marketability.
  • Broad academic education is combined with practical hands on training
  • The student is exposed to upcoming processes and Technologies
  • Regular assessments are conducted during the course duration to check out how well the knowledge has been grasped.
  • The student develops skills to manage contracts effectively.
  • Student`s analytical as well as risk taking abilities are enhanced.

To make a career in public procurement sectors, one should have a bachelor’s degree in a field such as engineering, logistics, supply chain management, or business. For people who love challenges, a career in procurement is an ideal choice, as at every juncture their knowledge is tested. You can do a professional procurement course to get the competitive edge.

Procurements Main Key Cost Drivers


The role of the cost either for a product or service is set or happens during the negotiation part. The negotiation procedure can be improved if one can achieve the understanding of driving cost. What drives the cost? Usually, there are 2 main factors.

Product Cost Drivers –For instance; if physical product is the main focus, thenfactors to consider that drives the cost are as follows.

  • Materials Used –The used material is all about what type of materials and how much quantity of material is used. The cost is going to be on the higher side if the focus is more on the quality and vice versa.
  • Components of Product – The product component is all about the type of material, design and packaging used. The cost can come down if and only if the material can be either changed or by simply choosing another supplier.
  • Labor Cost During Production – The labor cost is different depending on the manufacturing methods and efficiency rate.

Service Cost Drivers –When it comes to service cost, it is considered to be a little different and complicated when it comes to labor cost. It is imperative to understand the supplier’s process in order to understand the service cost.

  • Map the Supplier Process –Before you start to understand the supplier process, it would be easier to sit and talk with a supplier about the process of supplying.
  • Allocating Cost for Every Activity –You must first get information from the job boards for the labor prices that will allow you to understand on the cost allocated for all the activities.

Doing a strong procurement course will help you to understand more regarding such topics.