This course’s main goal is to empower professionals in the procurement sector to:

• Understand why analytics is essential to the procurement process and its impact
• Know the challenges faced in the procurement process and how analytics can help make better decisions
• Review several procurement analytics tools and techniques
• Develop cost models to assess the competitiveness of supplier pricing
• Adopt Microsoft Excel’s advanced decision-making features for procurement analysis
• Create target pricing models as part of your negotiation approach
• Understand the various statistical techniques employed in procurement analytics
• Understand the concept of programs management by analysing procurement data
• Oversee the development of necessary procurement projects for an efficient decision-making process

Training courses are available from Solid State Training on a variety of topics. Professionals with relevant experience give training in the appropriate domain. A portion of the training is offered in a classroom, while other parts are delivered through practical activities. Trainees are handed projects and tasks in groups, encouraging interaction between them and the trainer. The facilitators at Solid State Training use role-plays, as applicable during learning sessions. This training structure is created by Solid State Training. We call it the Do–Review–Learn–Apply Model.

With professionals undergoing this course, the organisation will benefit in the ways mentioned below:

• Seamless procurement processes managed by trained, experienced professionals
• Application of various advanced procurement analytics techniques to help with an effective and efficient procurement decision-making process
• A method for identifying, controlling, and mitigating procurement risks
• Regular training of other employees on excelling in effective negotiations as a procurement specialist using target costing models
• Detailed management review of various possible instances of analysing procurement-related data
• Seamless evaluation of sourcing processes, contracts, bidding processes, and assets turnover due to interactive visualisations and dashboards
• Advanced analytical tools and techniques are being used to improve the quality of procurement processes carried out by specialists

Professionals who take this course will benefit in the following ways:

• Complete understanding of procurement analytics and its impact on the overall business
• Have a better understanding and expertise of how to use statistical approaches to analyse procurement data
• Improved exposure and confidence to recognise policies’ effects on various performance metrics
• Enhanced Innovative thinking at each phase of the procurement lifecycle
• Increased confidence and knowledge in training other professionals on using various statistical concepts in procurement analytics
• Contributing to the organisation’s overall procurement decision-making processes using advanced analytical techniques
• Comprehensive understanding of business analytics techniques to address complex procurement challenges
• Greater potential to manage public costs by effective operations in procurement processes