Financial Management for Procurement and Logistics Professionals

Objectives:
• Understand the financial principles and concepts relevant to procurement and logistics operations.
• Learn how to effectively manage financial resources within the procurement and logistics function.
• Develop skills to analyze financial statements and interpret financial data.
• Gain insights into budgeting, cost control, and financial planning in procurement and logistics.
• Explore the role of finance in supplier selection, negotiation, and contract management.
• Understand the financial implications of inventory management, warehousing, and transportation.
• Learn how to assess the financial performance of procurement and logistics activities.
• Acquire knowledge of financial risk management and mitigation strategies in supply chain operations.
Course Content:
Introduction to Financial Management in Procurement and Logistics
• Overview of finance and its relevance to procurement and logistics
• Financial goals and objectives in supply chain management
• Key financial metrics and performance indicators
Financial Analysis and Reporting
• Understanding financial statements: balance sheet, income statement, and cash flow statement
• Ratio analysis for assessing financial health
• Interpretation of financial data for decision-making
Budgeting and Cost Control
• Budgeting process and techniques
• Variance analysis and corrective actions
• Cost reduction strategies in procurement and logistics
Financial Aspects of Supplier Management
• Financial due diligence in supplier selection
• Financial negotiation tactics and strategies
• Contract management and financial terms
Financial Implications of Inventory Management
• Inventory costing methods: FIFO, LIFO, weighted average
• Inventory valuation and financial reporting
• Working capital management in inventory control
Financial Considerations in Warehousing and Transportation
• Cost drivers in warehousing operations
• Transportation costing and freight management
• Financial optimization of warehouse and transportation networks
Financial Performance Measurement
• Key performance indicators (KPIs) for procurement and logistics
• Financial benchmarking and performance evaluation
• Balanced scorecard approach to performance management
Financial Risk Management
• Identifying financial risks in supply chain operations
• Risk mitigation strategies and contingency planning
• Insurance and hedging techniques for managing financial risks

FOR WHOM:
Stores Purchasing and Logistics Personnel in the Public and Private Sectors

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        4th – 7th Feb,    2025      

2ND BATCH:       8th – 11th July,  2025