Choosing and Evaluating Suppliers | Online Procurement Course
Learn practical skills to manage retail sales and customer support services that drive satisfaction and improve business performance.
This course offers practical training in handling retail sales and support services within customer-facing roles. You will learn to identify customer needs, present product solutions, close sales and provide helpful after-sales service. The training supports core business management practices and prepares learners for real-world retail environments.
Mitigating Supplier Risk Factors
Mitigating supplier risk factors involves identifying potential risks in the supply chain and implementing strategies to minimize their impact on business operations. This process includes assessing a supplier’s financial stability, evaluating the quality and reliability of their products or services, ensuring compliance with regulatory standards, and monitoring for any cybersecurity vulnerabilities. By diversifying suppliers, negotiating contracts with contingency plans, and establishing strong communication and monitoring systems, companies can reduce exposure to risks like supply disruptions, unethical practices, and financial instability, ultimately safeguarding business continuity and reputation.
What are the key risk factors to consider when selecting and evaluating suppliers?
When selecting and evaluating suppliers, it is important to consider several key risk factors that could affect the efficiency, reliability, and reputation of the organization’s supply chain. These include the supplier’s financial health, which impacts their ability to meet obligations; quality risks that could lead to defective or non-compliant products; and supply chain risks such as delays or disruptions caused by geopolitical issues or natural disasters. Other factors include compliance with laws and industry regulations, ethical practices, cybersecurity risks, and the supplier’s capacity to meet changing demand. Carefully evaluating these risks helps organizations make informed decisions, ensuring supplier relationships are stable, secure, and aligned with business goals.
What You Will Learn
- Understand the retail sales and support process
- Communicate product value to meet customer needs
- Close sales and manage customer objections
- Provide effective after-sales service and support
- Apply service recovery strategies professionally
- Maintain client relationships for repeat business
Who Should Enrol
- Learners interested in retail and customer service careers
- Junior staff working in retail sales or support
- Call centre or shop floor assistants
- Anyone aiming to improve client engagement and service
Description
This course provides practical knowledge and techniques for selecting and evaluating suppliers in a business context. Learners will explore the key factors that influence supplier choice, such as cost, quality, reliability, compliance, and ethical practices. Through real-world examples and guided activities, the course equips participants to assess supplier performance, manage procurement risks, and make informed decisions that align with organisational goals.
By the end of the course, you will be able to confidently identify suitable suppliers, apply structured evaluation methods, and support strategic sourcing decisions to enhance value and efficiency in your supply chain.
Course Content
- The differences between centralised and decentralised procurement are reflected through a flow diagram of both approaches
- The advantages/disadvantages of both centralised and decentralised procurement are listed to reflect their impact on supply chain
- The different circumstances under which to purchase centrally and decentralily are indicated
- Centralised and decentralised procurement are analysed in relation to their impact on supply chain management.
- The TCO philosophy and principles are analysed to understand the true cost of doing business with a supplier, going well beyond price
- Purchasing prices are analysed to reflect its influence on TCO
- The process of purchasing cost analysis is analysed in order to reflect the cost elements
- Potential areas of cost inefficiencies are evaluated to determine the effect on the bottom line and where spend can be optimised
- Cost drivers are analysed to determine their impact on the TCO
- Process recommendations are made that relate to sourcing in terms of TCO.
- Supply market conditions are assessed to determine market segmentation that informs the sourcing strategy
- Company spending is categorised in different supply market conditions
- A model to do an industry/supply market analysis is used resulting in a sourcing strategy
- The types of buyer-supplier relationships are evaluated to inform strategies for growing customer value and profitability.
- The characteristics of a good supplier are assessed to determine their suitability against business needs and buyer specification
- Sources of information for finding suppliers are determined using a variety of resources including supplier/buyer matching systems
- A systematic process to select the right supplier is analysed for its capability to deliver against business and market needs
- Various sourcing policies are evaluated to reflect their influence on the selection of suppliers
- Various methods are used to evaluate the performance of suppliers
- Key performance areas are identified for the evaluation of suppliers’ performance
- Areas of ongoing development of suppliers are identified in order to create value for money and an awareness of the interdependency of the relationship.
- Non-accredited: Short course only
- Duration: 1h 30m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
