This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.

1. Maximizing Value through Vendor
Management
6 – 8 August, 2014 | 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. OVER VIEW
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 the culmination of a 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.
This two-day program addresses all these issues and show
participants how a planned contract management process ensures
that inefficiencies are addressed at the earliest stage possible.
Through interactive supplier-buyer participation and the
management of the contract throughout its life cycle, supplier-
buyer relationship is maintained at the highest level.
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 give participants a
deeper insights on their deliverables. The various modules are
cultured to encourage stakeholders to aspire the attainment of
operational efficiency along the business chain
LEARNING OBJECTIVES
 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
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.
WHO SHOULD ATTEND
Purchasing managers and executives, Contract and Client
managers and executives, Project managers/leaders, Finance and
Admin officers, GLC 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: 234 1 8426905-6
0803 720 2432
+971556985290
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.