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1. Maximizing Value through Vendor
Management
1 – 3 July, 2015 | The Resource Space, Lagos, Nigeria.
This course is available for IN_HOUSE: For further information, please contact: Tel: +234 8037202432, Email:petronomics@yahoo.com. Web: www.thepetronomics.com

2. OVERVIEW
Effectively negotiating, executing and controlling agreements
with suppliers is an important task, yet many organizations do
a poor job of managing contracts. While negotiation plays an
important role in any contract, however, it is the execution
and management of the contract that ensures a successful
business relationship with the suppliers. Failure to manage a
contract effectively, leads to cost inefficiencies and overruns,
scope creep, project delay, etc. Improper management of the
contract further leads to protracted contract development and
negotiation cycles, improper contract approvals, limited
contract visibility and control, and, an inability to ensure that
suppliers comply with established contract terms.
LEARNING OBJECTIVE
Understanding the essentials of procurement
 How to manage procurement by contracts
 Contract drafting and designing essentials
 The essential preliminaries of a contract
 Risk management
 Selection of Suppliers
 Contract performance and progress monitoring
 Supplier development
 Software to Manage Contracts
PERFORMANCE FOCUS
Our programmes are significant investment for your
workforce. They are designed to fill identified industry
knowledge gap and provide hands-on applicable know-how
that gives participants a deeper insight on their deliverables.
The various modules are cultured to encourage stakeholders
to aspire the attainment of operational efficiency along the
business chain.
COURSE CONTENT
Principles of Effective Procurement
 Functions – understanding the basic functions
 Type of Buying Situations – how buying situations
differ and the impact on procurement functions
 The Process – a typical process that ensures contract
and company policy compliance
 Responsibilities – the role and responsibilities of
procurement to ensure compliance, management and
monitoring of contracts
Managing Procurement by Contracts
 What is a Contract – definition, and what constitutes
contract
 Importance – why contracts, the essentials, how it
affects performance and cost benefits
 The Need for Contracts – a paradigm shift that looks
at contracts for cost efficiency and consistency
 Type of Contracts – looks at various contracts that
can be considered for businesses
 Legal Aspects to Consider – essential laws that need
to be understood and how the legal aspects
determine the drafting of contracts.
The Contract Drafting
 The essentials of contract drafting and the traps to
look out for
 Key contract provisions – the opportunities a
contract provides in ensuring fairness and setting
obligations
 Key elements of a contract – ensuring essential
requirements are included with clarity
 Determine the applicability of other contract terms
to a particular contract like dispute resolution, etc.
 Contentious clauses in contracts - the need to
understand contentious clauses
The Essential Preliminaries of a Contract
 Specification – looks at why specification is important
to ensure the contracts begin on the right footing
 Preparation of SOW & RFP – what is a SOW & RFP;
the difference and importance of it, how it helps
determine the course of the contract
 Steps in SOW – essentials of developing a good
SOW to ensure the contract completes its terms
successfully
 Importance of RFP – ensuring the important details
are included to avoid inconsistencies and how a
detailed RFP avoids litigation and problems
 Tenders & Quotations – looks at the fundamental
differences and usage in business
 Rights – conditions and rights of buyers and sellers
Risk Management
 Types of Risks – defining risks and the various types of
risks that should be considered in business
 Transfer of Risks – 13 INCOTERMS – how international
trading addresses risk by understanding risk transfer and
responsibilities
 Identifying Risks – acknowledging risks and its sources
 Responsibilities – looks at responsibilities of all parties of
a contract in addressing risk
 Managing Risks – looks at the various stages of managing
risks in a contract
Selection of Suppliers
 Supplier rating – suppliers are rated according company
criteria prior to selecting them for any business deals
 Criteria – looks at the basics and standards expected
that will ensure consistency and quality of potential
suppliers
 Selection – this process looks at all the essentials after
the criteria have been met
 Negotiation – negotiation with suppliers prior to
contract acceptance
Contract Performance and Progress Monitoring
 Measurement - setting measurement methodology and
monitoring principles
 The Experience Stage – Understanding how
relationships are developed and addressing key contract
issues while contracts are on going
 Monitoring Techniques – setting key performance
indicators and making the contract performance based
 Change Control – changes may happen periodically in
the life a contract and how changes can be addressed
with derailing the contract
 Contract Closure – all contracts will come to an end
and needs to be closed effectively

3. Supplier Management & Development
 Understanding Supplier Relations – why work with
suppliers and how a relationship could be developed for
good business practices.
 What is Supplier Development? – understanding why
suppliers have to be developed for mutual benefits, the
ways in which suppliers are developed.
 The Process of Development – supplier development
and the experience factor and how loyalty and
commitments are explored.
 Managing suppliers contract commitment and
performance.
Software to Manage Contracts
 The Need for Efficient Monitoring Mechanism – looks at
how computer systems could contribute to cost
efficiency of managing contracts.
 Cost Benefits of Software – while it is good to automate
tedious processes, cost benefits have to be looked into.
 Functionality & Integration – looks at how compatibility
determines decision making in systems investment.
 Risk Reducing & Compliance Monitoring – how systems
take away a major portion of standardized processes
and provide better and effective ways of monitoring
contract progress.
CURRICULUM
This program addresses all these issues and show participants how
a planned contract management process ensures that inefficiencies
are addressed at the earliest possible stage. Through interactive
supplier-buyer participation and the management of the contract
throughout its life cycle, supplier-buyer relationship is maintained
at the highest level.
WHO TO ATTEND
Purchasing managers and executives, contract and client managers
and executives, project managers/leaders, finance and admin
officers, and government contract officers
DELIVERABLES
Our training programmes are exciting learning events. All
participants during the programme entitled to all course materials
and a certificate of participation. On a written request, we shall
furnish you with a detailed report summarising our perception of
participants’ strengths, areas for improvement and proposed
action plans within four weeks of concluding the course. Our
feedback process ensures your objectives are achieved by the
conclusion of our training process.
PROGRAMME FEE
The programme fee covers tuition, course materials. Payment is
due upon receipt of the invoice. Our cancellation policy applies.
- N126,000.00 per participant
IN-HOUSE TRAINING
Petronomics Training can work with your organization to provide
the course to meet your budget at your convenience (time and
location) in the comfort of your working environment. This
collaborative effort, emphasize actionable learning, the application
of theory in practice and combine core business skills/technical
knowledge with dynamic leadership training.
If you would like to discuss possible collaboration in developing in-
house training, please contact on the details below.
REGISTRATION
To nominate a participant for this training, kindly forward the
details of your nominated participants, (i.e. name, email address,
telephone nos.) and stating the course your participant are
registered.
To nominate a participant for this training, kindly forward the
details of your nominated participants, (i.e. name, email address,
telephone nos.) and stating the course your participant are
registered.
Business Development Desk
Petronomics Training
Telephone: 08120996728
0803 720 2432
Email: ayantola.victoria@thepetronomics.com
petronomics@yahoo.com
www.thepetronomics.com
ABOUT US
At Petronomics, energy expertise is our resource and inspiring
competence is what we enjoy. The application of knowledge in
driving innovation and ultimately possibilities is the catalyst that
steer a distinctive value proposition. Braced with visionary
advisory board, inspired/cultured workforce and experience
faculty, we provide superior intellectual resource pool that bridge
competency gap for industry operators. The benefits of our
expertise are accessible through learning programmes, research
and conference services; a blend that sets us as the preferred
pool, professionals approach to upgrade business skills
THE LEARNING APPROACH
In resourcing industry workforce competency, we develop skills
and experience that employer’s value by offering a comprehensive
range of flexible learning options to meet their learning and
development needs through a broad range of learning approach
that offers intensive and enjoyable experience to participants.
Participants benefit from lectures, case study analysis, group
discussion, workshop, and are also encouraged to learn from
other managers and professionals on their programme by sharing
ideas and experiences. We place a particular emphasis on group
work where participants’ real life situations are used as vehicles
for learning.
FACULTY
Key to our approach is the quality to the faculty members. Every
faculty member on our 20 member team is rigorously assessed
and contracted in line with our Standard Operating Procedure.
Each of them understands that they have to deliver training and
supporting documentation to the highest standard. They
comprise of professionals with outstanding track records in their
area of specialty. Whilst they bring to bear several years of hands-
on experience in the industry, they are committed to knowledge
growth and have an understanding of the link between strategy
and knowledge capital.
LEARNING ENVIRONMENT
Our programmes are conducted in a decent and cozy
environment globally. We ensure that our participants are relaxed
to refresh in an ambience well conducive for inspiring and creative
brainstorming that accelerate the learning curve of individual
participants. In consolidation of our value chain, locations are
carefully considered using our five star QC indicator like security,
banquet facilities, accessibility and customer services. Our
programme team works with the facility staff to ensure a personal
and warm welcome to participants.