Certificate in Financial Tools in Procurement

Finance sets spending limits for procurement, and procurement aims to save money when and where possible through both cost savings and cost avoidance measures.

This course is designed to provide participants with the essential principles of finance as they apply in the real world, particularly in the procurement process. This course covers topics such as how finance works in the procurement business, how finance measures performance, the impact of financial decisions on performance, and the use of finance skills to drive a business forward.

• Determine which goods and services can be categorised as capital and which will be expense items
• Gain a comprehensive understanding of the importance of corporate governance, regulation, and Corporate Social Responsibility (CSR) and sustainability in relation to economic performance and value creation
• Evaluate and select financial risk management options
• Learn a range of forecasting methods
• Apply contribution analysis and marginal costing to evaluate a range of decision-making situations
• Know and examine the uses of the different types of expenditure
• Assess and choose sources of finance to assess funds for capital acquisitions and projects
• Recognize the nature and importance of investment decision-making for home and international markets
• Assess the impact of external factors upon the decision-making process and how these might be factored into the modelling and ultimate business case
• Enumerate and identify the different types of risk and their impact on: Suppliers, Own organisation, Customers
• Conduct financial appraisal and risk analysis of suppliers, your own organisation, and customers, using a range of financial performance ratios
• Training Course Methodology
• The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies, live demonstrations of sampling methodologies, and group exercises to apply the knowledge acquired throughout the course.