Value-based Procurement

Value-based Procurement, available at $19.99, has an average rating of 4.3, with 20 lectures, based on 20 reviews, and has 3030 subscribers.

You will learn about 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 efficiency and effectiveness. Review the evolution of the 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, VIPER model, etc. Conduct exercises on different aspects of value-based procurement This course is ideal for individuals who are Procurement professionals willing to create and appropriate the value or Procurement beginners and experts looking to organise their knowledge of value and apply it in practice It is particularly useful for Procurement professionals willing to create and appropriate the value or Procurement beginners and experts looking to organise their knowledge of value and apply it in practice.

Enroll now: Value-based Procurement

Summary

Title: Value-based Procurement

Price: $19.99

Average Rating: 4.3

Number of Lectures: 20

Number of Published Lectures: 20

Number of Curriculum Items: 20

Number of Published Curriculum Objects: 20

Original Price: $19.99

Quality Status: approved

Status: Live

What You Will 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 efficiency and effectiveness.
Review the evolution of the 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, VIPER model, etc.
Conduct exercises on different aspects of value-based procurement

Who Should Attend

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

Target Audiences

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

Procurement value became the second-popular buzzword in procurement after “agile.”

Interestingly, the agile methodology also describes incremental value delivery. 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, etc. Procurement managers need to sense all these perceptions and transform them into objective and measurable outputs that 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.

By the end of this course, you’ll emerge with a clear understanding of procurement value and a robust action plan for creating and appropriating value in your organization. Whether you seek to enhance cost savings, strengthen relationships, or drive sustainability initiatives, this course equips you with the tools and knowledge to make a meaningful impact.

Enroll now and embark on a journey towards mastering procurement value – from theory to action!

Course Curriculum

Chapter 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

Chapter 2: Value-based Procurement in Practice

Lecture 1: From Lowest Bid to Value-based Procurement

Lecture 2: Changes Required to Exercise Value-based Procurement

Lecture 3: Exercise: Lowest bid vs. TCO vs. Value-based evaluation of air conditioners

Lecture 4: Exercise: Value-based Procurement of an Electronic Queue System

Lecture 5: Reverse Marketing

Lecture 6: Creating Value in Negotiations

Lecture 7: Value-add Area in Negotiations

Lecture 8: Practical case: Value-based Sourcing Strategy

Lecture 9: Best-Value Procurement Process

Lecture 10: Value Stream Mapping

Instructors

Sergii Dovgalenko FCIPS
Head of procurement, business consultant, tutor, book author

Rating Distribution

1 stars: 0 votes
2 stars: 1 votes
3 stars: 2 votes
4 stars: 9 votes
5 stars: 8 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!

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