About Course

Name: Finance and Procurement Management Training- Kenya
Price: 1200 KES
Availability: InStock

Finance and Procurement Management Training- Kenya

Category: Procurement and Logistics Training

Overview

The Expedition

About the Program

The Finance and Procurement Management Training is designed to equip professionals with the essential skills to manage financial operations and procurement processes effectively. This hands-on program offers practical insights into budgeting, forecasting, financial analysis, and supplier evaluation. Participants will gain a solid understanding of financial terminology and tools, enabling them to make informed decisions, control departmental finances, and enhance procurement performance. With a focus on real-world application, the training supports the use of IT systems and financial software to improve accuracy, efficiency, and strategic planning within organizations.

The program is offered both online and in-person and includes a certificate of completion.

Program Objectives

By the end of this training, participants will be able to:

Control the flow of money within their departments
Understand budgeting processes and apply forecasting techniques
Manage departmental budgets and inventory efficiently
Interpret and utilize financial information with confidence
Grasp financial terminology and concepts
Evaluate the financial health and performance of an organization
Make better decisions using financial management principles
Analyze and apply financial software tools
Read and understand financial accounts
Use IT systems to assess and monitor supplier performance
Apply basic financial tools in daily operations
Develop and manage effective procurement strategies
Select suppliers based on strict and relevant criteria
Monitor and measure supplier performance
Identify methods to improve procurement efficiency and impact

Target Audience

Manufacturing Managers
Procurement Leads and Officers
Junior, Senior and Mid-Level Supply Chain Managers and Executives
Vendor and Product Evaluation Managers
Purchasing Managers and Specialists
Sourcing Professionals
Finance and Procurement Executives, Senior Managers, Procurement and Finance Managers and Professional staff from related functions

Training Period

Classroom: 5 Days
Online: 7 Days

Training Modules

1: Financial Management Principles, Planning and Cash Management

Introduction to Financial Management
Basic Concepts in Finance: Time Value for Money, Financial Statements Quick Overview, Financial Performance Analysis
Keys to Financial Success
Financial Planning Principles; Strategic and Operational Financial Planning
Planning, Budgeting, and Forecasting Tools
Cash Management

2: Investment, Risk, Inventory and Supplier Relationship Management

Investment Planning
Risk Management
Inventory Management
Reporting and Accountability
The role of procurement in the organization
Developing supplier relationships
Reviewing supplier performance

3: Tendering, Contract Negotiation and Supplier Rationalization

Managing the tendering process
Negotiating contract with suppliers
Understanding the needs of the users of procurement services
Contract documentation
Rationalizing the supplier base

4: Procurement Systems, Fraud Detection and Capacity Development

IT systems in procurement
Detecting fraud
Training needs of procurement personnel

Delivery Method

This program is taught through a mix of practical activities, theory, group work and case studies. Training manuals and additional reference materials are provided to the participants.