Advanced Contract and Financial Management - L5M4

Purpose: On completion of this module, learners will be able to develop measures to ensure and improve contract performance as they assess the concept and use of strategic sourcing and also consider financial aspects that may impact procurement and supply activity.

Aim: In any organisation, a significant element of the procurement and supply function is based around the contracting process. Those involved in the formulation and management of contracts with external suppliers must therefore have a clear understanding of the strategic nature of contractual performance measures in procurement and supply. Financial management refers to the efficient and effective management of money (funds) to accomplish organisational objectives. This module is designed for those working in the procurement and supply field, with responsibility for contracting elements of the procurement and supply function who must also have a strategic awareness of the impact of financial aspects of their discipline.