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RFP, RFQ, RFI, whaaat? Learn quickly, get a job in corporate purchasing, and succeed in SCM careers
 
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Request for Proposal (RFP), Request for quotation (RFQ), Request for Information (RFI) are key documents in the purchasing process. In this lesson, we cover 3 main points about what is called RFx. 1 – we define RFI, RFP and RFQ 2 – we will be learning when to apply them 3 - we will see a basic work flow for each of them This is a strange story but may help the learning. Our friend here is a manager in a sunny and hot day. He wants to buy something to give to his team but has no idea how to solve the problem. He prepared a Request for Information and sent out to suppliers. The supplier replied with some alternatives, water balloons can help with heat, also Ice creams, or why not some drinks! The manager, thought, thought, and then decided for ice creams, the other solution does not seem to be appropriate for the workplace. Once, he has an idea about the product, he issued and sent a Request for Proposal because he was open for different product features. If he knew all details beforehand, he could have sent out a Request for Quotation, and just ask for the product cost. The buyer knowledge about the product indicates which document is more suitable. This story, give us an idea about RFI, RFP, and RFQ. You can send your questions in the comment area, I will be pleased to answer them. Thanks for watching, don’t forget to subscribe Americo e-Learning Americo e-Learning provides practical training in business analysis for professionals that work within short due dates and under pressure. Hands-on learning experience in which students have the opportunity of developing skills such as problem-solving, critical thinking, quantitative analysis in practical business applications. MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: rfp basics, request for proposal 101, request for quotation 101, request for proposal training, rfx 101, request for information 101, rfp for beginners, rfq for beginners, rfi for beginners, rfp purchasing management, rfp procurement management, purchasing process rfx, rfx basics MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. -~-~~-~~~-~~-~- Please watch: "RFP 101 - Request for proposal in Purchasing Management" https://www.youtube.com/watch?v=QIOR7Dnm0Uk -~-~~-~~~-~~-~-
Views: 21002 Americo e-Learning
Lesson 3 - Purchasing  Strategy 101 - Learn the core strategic roles in purchasing management.
 
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Purchasing strategy: let’s discuss 7 critical strategic dimensions in purchasing management. Learn quickly, get a job in corporate purchasing, and succeed in Supply Chain Management. The strategic vision on purchasing is mainly related to supply continuity, quality, and costs. Supply assurance has a special attention and the five right portraits very well the challenges to be managed. You may wonder what kinds of purchasing issues are grabbing the attention of the executives, VPs, CEOs. Certainly, they are always interested because of the purchasing importance for the business. This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes. The course covers the following topics: • Procurement, purchasing and supply management • Strategic Supply chain and procurement • Procurement processes and purchasing types • Sourcing strategies • Supplier and vendor selection • Supplier and vendor risk assessment • Contract, RFP, RFQ, SOW, and SLA administration Author info Americo Cunha - Professor (Higher Education) Operations & Project Management, DSc, MBA, MSc MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 4586 Americo e-Learning
Lesson 6 - SCM Sourcing 101- Learn sourcing of materials in procurement, purchasing management
 
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SCM sourcing is a key activity in procurement an purchasing processes. A good logistic and supply chain professional should know the sourcing alternatives available when selecting suppliers! Watch and learn quickly! A good SCM job is waiting for you. Subscribe Americo e-Learning by Americo Cunha, PhD. Subscribe here: https://goo.gl/HpmVLb Summary of video transcript One of the most important activities of the purchasing process is the sourcing. What is sourcing? What are the alternatives? How to select suppliers professionally? Sourcing is the process of identifying, selecting, and developing suppliers. In this video, you have to answer four questions. What are the materials required? How the company can obtain these materials? In the case of purchasing, who and where are the suppliers? The what question lead us to the requirements. The how, if the company will be producing or purchasing the material. Alternatives for location, type, size, quantity are the answers to the questions who and where. The purchasing professional should evaluate alternatives and determine which one meets the company requirements and strategy. One of the first decision to be made is if the company will produce internally or buy the resource required. If decides for producing internally, the production area should take care of the request. In the case of purchasing, the company has some basic alternatives. The basic sourcing alternatives are: - Single vs. multiple suppliers - Local, regional, global suppliers - Retailers, distributors, manufacturers - Large and small suppliers We will be working on them with more details next. ============= Practical training in business analysis for professionals that work within short due dates and under pressure. Hands-on learning experience in which students have the opportunity of developing skills such as problem-solving, critical thinking, quantitative analysis in practical business applications. MY SOCIAL MEDIA AND CONTACT MEDIA YOUTUBE: www.youtube.com/c/americoelearning E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study)
Views: 8012 Americo e-Learning
Lesson 1 - Purchasing  management  - concepts 101 - Learn main concepts in corporate purchasing
 
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Corporate purchasing is different from personal buying! Let’s break down the puzzle of how individuals decide, choose, and buy things. And then, trace a parallel with the corporate purchasing. You’ve learned in the marketing classes that there is a buying process that most consumers follow. It starts with the need recognition. Then, usually, people search for information about products. They identify alternatives and then make the decision which product they will buy. After using the product, they may like it or be frustrated with their choice. The purchasing process and procedures intend help purchasing professionals to find the most suitable solution for the company. Let’s next check the main activities of the corporate purchasing process. The needs usually arise from sales forecast and production plan. Then, there is a very critical step, to identify, sort, and define the requirements that will be fulfilled by the purchasing. After, the purchasing department should look for and choose suppliers that can provide solutions to the requirements. Also, the purchasing team has to negotiate the technical and commercial terms. The purchasing is placed, items are received, verified and put available for the company. After receiving the materials there is lots of work to be done. Follow up with internal clients about deliveries, quality of the materials, and, if the contract terms are being followed. Course info This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes. The course covers the following topics: • Procurement, purchasing and supply management • Strategic Supply chain and procurement • Procurement processes and purchasing types • Sourcing strategies • Supplier and vendor selection • Supplier and vendor risk assessment • Contract, RFP, RFQ, SOW, and SLA administration Author info Americo Cunha - Professor (Higher Education) Operations & Project Management, DSc, MBA, MSc MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study) MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. -~-~~-~~~-~~-~- Please watch: "RFP 101 - Request for proposal in Purchasing Management" https://www.youtube.com/watch?v=QIOR7Dnm0Uk -~-~~-~~~-~~-~-
Views: 9366 Americo e-Learning
Contract Management 101 - Purchasing and Project Procurement, fixed-price, cost based, and T&M
 
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Purchasing and Project contract management and the 3 main contract types: fixed price, time and materials, and cost based contracts. This is an important knowledge in Project Procurement, Supply Chain, and Purchasing Management. In this video, you learn: Why and when do companies need contracts in purchasing management? What are the main contract types used by companies? What are the ADVANTAGES and risks of each contract type? Would you like to understand contract management in corporations? If yes, keep watching. Fixed price is a contract in which the price of the product or service is fixed during the contract duration. In these contracts, buyer and seller should know very well the specifications and, therefore, the costs can be estimated with accuracy. In a cost-based contract, the buyer agrees to reimburse the supplier for the expenses incurred plus a dollar amount of profit, usually a percentage of the contract’s full price. To protect against cost overruns, some companies define the maximum cost reimbursement the supplier cannot exceed. In Time & Materials (T&M) contract, cost unit rates are predetermined, but the man-hours and material quantity u can vary. Therefore, the total cost is not fixed while unit cost are fixed. It is a kind of hybrid contract. It has a fixed unit cost as the fixed price contracts, but the amount of material used and worked hours o may vary and will be paid accordingly. You can send your questions in the comment area, I will be pleased to answer them. Thanks for watching, don’t forget to subscribe Americo e-Learning Americo e-Learning provides practical training in business analysis for professionals that work within short due dates and under pressure. Hands-on learning experience in which students have the opportunity of developing skills such as problem-solving, critical thinking, quantitative analysis in practical business applications. MY SOCIAL MEDIA AND CONTACT MEDIA YOUTUBE CHANNEL: www.youtube.com/c/americoelearning E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc MY HOME STUDIO EQUIPMENT (AFFILIATE LINKS) Blue Microphones Snowball USB Microphone: http://amzn.to/2pk3aEp Neewer Wind Pop Filter: http://amzn.to/2q5LHN1 Neewer Microphone Suspension Arm: http://amzn.to/2q2MeRo Audio-Technica ATR-3350 Lavalier Microphone http://amzn.to/2qZTZp4 Logitech Webcam HD Pro C920: http://amzn.to/2qTlOTz Canon VIXIA HF R72 Camcorder: http://amzn.to/2q5VUZP Philips SHL3000BK Headband Headphones: http://amzn.to/2q5WHdo Disclaimer: Some of these links go to one of my websites and some are affiliate links where I can earn a small commission if you make a purchase at no additional cost to you. These funds will be applied in the production of more online lessons. Topics covered in this video: rfp basics, request for proposal 101, request for proposal outline, request for proposal template, request for proposal sections, request for proposal training, rfp for beginners, rfp purchasing management, rfp procurement management, purchasing process rfp, vendor selection rfp, supplier selection rfp, purchasing proposal, rfp purchasing management MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 8465 Americo e-Learning
Lesson 2 - Purchasing management - SCM 101 - Learn quickly and get a job in corporate purchasing
 
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What are the SCM Supply Chain Management and Purchasing Management main functions? When we talk about supply chain, we are talking about several things, how materials arrive in the company. How companies receive, handle, and storage. How supply orders are processed. How the inventory is managed. How materials are stocked. What pace they are used in the production process. And then, how end products are packed, shipped and delivered to customers. The question is, where is the purchasing work in the SCM umbrella? I would say, all over. But, before going deeper in the purchasing, let’s define better the diffrences between supply chain and purchasing. In this lesson, we will be reviewing the language of the supply chain management and, inside it, the purchasing work. Let’s understand the releanthiship and differences. This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes. The course covers the following topics: • Procurement, purchasing and supply management • Strategic Supply chain and procurement • Procurement processes and purchasing types • Sourcing strategies • Supplier and vendor selection • Supplier and vendor risk assessment • Contract, RFP, RFQ, SOW, and SLA administration Author info Americo Cunha - Professor (Higher Education) Operations & Project Management, DSc, MBA, MSc MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Disclaimer: Some of these links go to one of my websites and some are affiliate links where I can earn a small commission if you make a purchase at no additional cost to you. These funds will be applied in the production of more online lessons. Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study) MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 6389 Americo e-Learning
Lesson 4 - Purchasing management - Supply types, type of materials and services companies buy
 
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We can divide the supply types into materials, services, investment, and situations. in this lesson, we will be evaluating different supply materials and purchasing situations. Learn quickly, get a job in corporate purchasing, and succeed in Supply Chain Management. Let’s check some examples. - Raw materials are commodities usually applied as an input to the production process. - Semi finished products and components include all items that went through manufacturing process before being applied in the production process. - The finished products are items that usually don’t require major processing before resale to the end customers. - The Maintenance Repair and Operating MRO items include anything that does not go directly into the final product. They are applied to support production and operations such as machine spare parts, computer, office, and cleaning supplies. - The production support items are materials the go together with the final product but are not part of them such as pallets, boxes, containers, and others. Some companies include this category in the MRO group. - and others, watch the video!! Introdutory course in Procurement Management - Lesson 4 Course info This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes. The course covers the following topics: • Procurement, purchasing and supply management • Strategic Supply chain and procurement • Procurement processes and purchasing types • Sourcing strategies • Supplier and vendor selection • Supplier and vendor risk assessment • Contract, RFP, RFQ, SOW, and SLA administration Author info Americo Cunha - Professor (Higher Education) Operations & Project Management, DSc, MBA, MSc MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study) MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. -~-~~-~~~-~~-~- Please watch: "RFP 101 - Request for proposal in Purchasing Management" https://www.youtube.com/watch?v=QIOR7Dnm0Uk -~-~~-~~~-~~-~-
Views: 3794 Americo e-Learning
Lesson 5 - Purchasing management - Process 101 - Purchasing process lesson workflow in Supply Chain
 
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This is a general view of the purchasing process. Forecast, requirements, requisition, supplier selection, contract, purchase order, receipt, inspection, payment, and performance measurement. The cycle begins with the identification of needs. The needs can be defined during the planning, during a product development, in projects, or from the production process. In the production planning, the sales forecast drives the aggregate and material requirement plan -MRP. Based on the MRP, it is possible to determine the quantity and dates for raw material, components, and semi-finished goods needed to meet the production plan. The requisitioning involves the specification, describing material characteristics, quantity, and date in which the material is required. When it involves services, a statement of work should be elaborated to guide the contracting process. The business units inform the needs and descriptions through a purchase requisition. Do you want to learn more, watch the video? This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes. The course covers the following topics: • Procurement, purchasing and supply management • Strategic Supply chain and procurement • Procurement processes and purchasing types • Sourcing strategies • Supplier and vendor selection • Supplier and vendor risk assessment • Contract, RFP, RFQ, SOW, and SLA administration Author info Americo Cunha - Professor (Higher Education) Operations & Project Management, DSc, MBA, MSc MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study) MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 6654 Americo e-Learning
Lesson 7 - Purchasing Portfolio Strategy – Find best purchasing strategy with the Portfolio Matrix
 
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In my time in Purchasing, I learned that Supply Chain and Purchasing Management are intensely correlated, and they have two fundamental objectives: 1) Bring resources to the business at a competitive price. Acquire materials and components also at a competitive price 2) Keep supply continuity, keep the company running, keep the operations and production doing their work. Therefore, PURCHASING is an indispensable function to achieve Supply Management goals and at the end the business goals. What is the challenge here? the challenge is to formulating strategies against supply disruption at ra competitive price point. Peter Kraljic developed a matrix to simplify how the purchasing organization should approach the procurement process. Purchasing should assess supply challenges to achieve: 1) long-term availability of critical materials and components 2) mitigate supply complexity and uncertainty To make it simple: 1) pay attention to item's relative value in the production process and product value 2) Evaluate how hard is to get the item, material, or component. We can do a better job by placing the components to be purchased in a matrix. The matrix has two dimensions 1) The item's value related to the cost of the whole production process; related to the entire product value. For instance, if the component cost1 dollar and the product 100 dollars, it has a lower relative value if compared to a component that costs 20 dollars 2) The level in which it is difficult to get, to acquire, to purchase the item. You may ask: how difficult is to buy or to put the component available for the production process. It is a kind of risk measurement We can divide the components into four groups. - The components the have a relatively low value if compared the overall cost and are easy to get or acquire. - Then, we have the components that have a relatively high value if compared the total cost, and still, they are easy to get or obtain. - we also have the components that have a relatively low value if compared the total cost, but because of some peculiar reason are not easy to purchase. - Last but not least, there are few components very expensive and very difficult to acquire. Last talk about the first group of components "low-value-easy-to-get" We called these components, ROUTINE ITEMS. You have many sourcing alternatives, they have a low cost, and it is very easy to buy. The strategy here is to simplify the purchasing process and supply process. Make it simple, don't waste time and money on these items. If the components are easy to acquire but have a significant cost relative to the production or product cost, we call them LEVERAGE ITEMS. Why? Because the company has many potential suppliers, therefore let's leverage the bargaining power and maximize the commercial advantage. Now, the mysterious components that we call BOTTLENECK ITEMS. They have relative low cost but for some reason they are very difficult to acquire and to bring to the production process. when Japan was hit by a tsunami, several automakers in the US because of short supply of some pigments. Pigment is usually cheap and its participation in the car cost is very low. For some reason these components embedded some specific technology although the low cost. The best strategy is to develop strategies to ensure supply continuity. Critical items are the essential component of the product or production process. These components are crucial to differentiate the product, to the companies profit, sales. They may have lot's technology, intellectual property, participation on the cost bottom line. Therefore, you have to put effort, time, dedication to bringing these components to the company. The recommended strategy is to develop a good partnership with the critical suppliers Every time you are assigned to purchase a component for the company, try to figure out in which category the component falls. This helps you to understand the context you are working in, and to find the best strategy to buy the component. Again, keep in mind the two primary objectives of any SCM or purchasing professional. 1) Bring resources to the business at a competitive price. Acquire materials and components also at a competitive price 2) Keep supply continuity, keep the company running, keep the operations and production doing the work. References: Kraljic, P. (1983). Purchasing must become supply management. Boston: Harvard Business School Press. Weele, A. J. v. (2010). Purchasing & supply chain management: Analysis, strategy, planning, and practice (5th ed.). Cengage Learning. Monczka, R. M. (2011). Purchasing and supply chain management: Robert M. Monczka. (5th ed.) South-Western
Views: 1802 Americo e-Learning
Request for Proposal RFP - learn quickly and succeed in Purchasing Management career
 
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Request for Proposal (RFP) is a critical document in the purchasing management process. Do you want to succeed in Purchasing Management? Watch this video! In this lesson, we cover 3 main points about an RFP. 1 – what is a Request for Proposal RFP 2 – what is the RFP workflow 3 – The RFP main sections and template The purchasing process has three main groups of stakeholders, The company’s departments, the purchasing department, and the suppliers. Once there is a product or service need in one or more business units. They contact the purchasing department to start the purchasing process. The needs, specifications, and requirements are defined by the internal stakeholders and consolidated in a document called RFP. The purchasing department makes public or selects some vendors to receive the RFP. The vendors return proposals that include products and services detail specifications, what requirements can be delivered, which ones they cannot. And in some cases, alternatives to fulfill the requirements. Oh, of course, the price structure, delivery process, and other conditions. Then the company assess the proposals and select the most suitable supplier for the internal stakeholders’ needs. You can send your questions in the comment area, I will be pleased to answer them. Thanks for watching, don’t forget to subscribe Americo e-Learning Americo e-Learning provides practical training in business analysis for professionals that work within short due dates and under pressure. Hands-on learning experience in which students have the opportunity of developing skills such as problem-solving, critical thinking, quantitative analysis in practical business applications. MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com Topics covered in this video: rfp basics, request for proposal 101, request for proposal outline, request for proposal template, request for proposal sections, request for proposal training, rfp for beginners, rfp purchasing management, rfp procurement management, purchasing process rfp, rfp basics, vendor selection rfp, supplier selection rfp, purchasing proposal MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 3037 Americo e-Learning
Weighted scoring 101 -Learn quickly decision making matrix, ranking & prioritization matrix (long)
 
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Learn fast the weighted scoring method, a.k.a. weighted criteria matrix, decision matrix analysis, ranking matrix, prioritizing matrix. It is an important decision-making technique in business analysis. The weighting and scoring method can be explained in 5 five easy steps: 1- define the objective and requirements. 2- grade each requirement importance with weights 3- identify alternatives to achieve the objective 4- give scores to each option and calculate total weight score 5- rank options and interpret the results Therefore, watch this video if: Do you have to prioritize business alternatives? Do you have to rank different business solutions? Do you want to learn how to use decision matrix criteria? MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: weighted scoring method, multicriteria analysis, weighted scoring calculation, weighted scoring chart, weighted scoring table, multiple-criteria decision analysis, multiple-criteria decision, multi-criteria examples MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 9225 Americo e-Learning
Lesson 1 - Project Management 101 - Intro to project management, scope, project planning, scheduling
 
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In this lesson, you will learn full Project Management workflow with amazing visuals, from pre-project, scope, planning, and scheduling phases. The visuals and illustrations describe the project process activity models easily. Learn project management process workflow and life cycle of the PMBOK in 5 minutes. In this video, you will see the main project management techniques and tools. Understand project management process groups, activities in the project life cycle with diagrams, illustrations, and project charts. The PMI PMBOK will become an easy reading. Visuals can improve a lot your memorization and learning. You will be able to understand the PMBOK,. This 101 course teaches you will learn project management processes fast, through the primary project processes and activities. In this video, you have an easy journey. Get you project management certifications, be job ready, and succeed in project management career. A project is a journey with a very clear beginning and end. The way has some twists, but you can overcome them quickly. In the pre-project phase, we define priorities, assess strategic fit, prepare the business case, and select projects to be developed. Go ahead with the initiation activities! - define initial scope - estimate initial budget - evaluate major stakeholders - develop the PROJECT CHARTER - Get the formal approval, and move on. - "walk" to planning activities In the planning, you should do your best to anticipate the course of actions to deliver the project outcomes First stop in the planning process is the scope. The main activities are: - identify and select requirements - describe the project, service, and their boundaries - develop the WBS, the most important document to plan a project Next stop, schedule planning, based on the WBS - define activities - sequence activities - estimate activities resources - estimate activities duration - develop schedule - the project network - the Gantt chart Human resource planning includes: - Assign internal staff - plan temporary recruitment - define resource calendar - develop Responsibility Assignment Matrix - plan training - plan team assessment Now the crucial detail in any project, money. In the cost planning, you should - estimate activities cost - determine budget - develop the Time Phased Budget, it is an essential document in the monitoring and control, and for the earned value report Procurement is about to bring resources to the project. Prepare detail description about the resources to be acquired externally, develop sourcing and outsourcing plan. Can you see the skull on the road 90-degree curve? Very risky Risk planning includes the activities of - identifying risks of the project and its activities - performing risk analysis - preparing risk register - planning risk response To conclude the project plan, you should work on the communication and stakeholders management planning. - identify communication requirements of each stakeholder’s teams - determine the most suitable communications methods, what, how, when, and to whom the reports should be sent - develop the stakeholder’s management plan MY SOCIAL MEDIA AND CONTACT MEDIA YOUTUBE CHANNEL: www.youtube.com/c/americoelearning E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 1115 Americo e-Learning
Lesson 3 - Project Network Diagram 101 - How to draw project schedule network AON diagram from WBS
 
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How to draw project network diagram? This video is a project network diagram tutorial, in which you will be learning how to the WBS diagrams to develop an Activity-on-node or AON diagram in project management. It is full of visuals and 2 examples of AON diagrams How to prepare the project activity list? • The Work Breakdown Structure depicts the main project components. It has the project on the top of the hierarchy, followed by main project phases and primary components expressed as deliverables. • The primary deliverables are then further broken down in smaller deliverables, a.k.a. sub-deliverables. • Then break down the sub-deliverables again until suitable manageable units usually called lowest level sub-deliverables. • The WBS components are identified by numbers from the top, the project, to the lowest level deliverables as shown 1, then 1.1, then 1.1.1. 1.1.2, and so on. • The project tasks are determined based on work required to complete and deliver the WBS lowest level sub-deliverables. They are also called work packages, in which the task detail information, resources, budget, and estimates are described. • The project activity list is derived from the from WBS lowest level sub-deliverables. You need to describe the principal information about the tasks such as WBS ID, task ID, task name, the estimated duration, and predecessors. • The tasks names are different of the deliverables. The deliverable title must be a noun or compound noun, while the task title must have an action verb. What is a Project network diagram? • It is an illustration of the sequence of work in a project. • There is a work sequence because some activities can just be executed after previous activities are completed – a.k.a. predecessors. • Some activities do not require previous work, and they do not have predecessors. • The most common way to show the activities sequence is called Precedence Diagramming Method (PDM) • How to prepare a Precedence diagram? • Contact the project team and discuss with the person in charge for a task, what task or tasks must be done before he starts his tasks. Include the task or tasks ID in the predecessor column, • After filling out the predecessors for all tasks, it is time to draw the precedence diagram. • Start with task or tasks without predecessor and place them on the left side.
Views: 1452 Americo e-Learning
Weighted scoring 101 -Learn quickly decision-making matrix, ranking & prioritization matrix (short)
 
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Learn fast the weighted scoring method, a.k.a. weighted criteria matrix, decision-making matrix, ranking matrix, prioritizing matrix. It is an important decision-making technique in business analysis. The weighting and scoring method can be explained in 5 five easy steps: 1- define the objective and requirements. 2- grade each requirement importance with weights 3- identify alternatives to achieve the objective 4- give scores to each option and calculate total weight score 5- rank options and interpret the results Therefore, watch this video if: Do you have to prioritize business alternatives? Do you have to rank different business solutions? Do you want to learn how to use decision matrix criteria? MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: weighted scoring method, multicriteria analysis, weighted scoring calculation, weighted scoring chart, weighted scoring table, multiple-criteria decision analysis, multiple-criteria decision, multi-criteria examples MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago.
Views: 1415 Americo e-Learning
Lesson 2 - Project Scheduling 101 -  Project schedule network diagram and Gantt Chart  from the WBS
 
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In this video, we present a visual tutorial on project management scheduling. You learn how to prepare a project schedule visually. This 101 course teaches the four steps for an effective project scheduling are: (1) How to identify project tasks (2) How to estimate project duration, resources, and cost (3) How to arrange project activities in sequence (4) How to optimize project schedule After, you will be able to understand the PMBOK and other project management technical books better. Here is the place to improve your project management skills. Project planning is an art of anticipation! Yes, the act of preparing for something, the visualization of future events. (1) Identify project tasks The project tasks can be identified and organized with the support of a tool called WBS - WORK BREAKDOWN STRUCTURE In the WBS, we organize tasks into manageable groups, by project phases, deliverables, subject matter... The WBS - - WORK BREAKDOWN STRUCTURE is like an assembling kit diagram from which you can develop your project plan. In the first level, you have the main sections, main work phases, or deceivable . These project sections are then further broken down into tasks, or work packages, that can be assigned to a single person to handle. In WBS chart, these are the lowest level, the smallest project units in which all planning will be developed. (2) Estimate task duration, resources, and cost Time and resources estimates are a big part of the schedule because they help determine how long tasks should take. Each task of the WBS lowest level are evaluated. For each one, first, we try to estimate the effort, work-hours that will take to finish the task. The estimating is very critical to the project. Try to get advice from experienced people on the job and check actual duration from previous projects. Two things should be taken in consideration to determine the task duration the effort, work-hours, and resource availability. For instance, the project should understand if the person in charge for a task will be working full or part-time. Full time dedication lead to a shorter duration. (3) Arrange tasks in sequence Putting tasks in a logical work sequence is the next challenge to developing the project schedule. The first challenge is to find out the relationships between tasks, and identify which task must be done before the other task. This is called task dependencies. If a task has to be done before another, it is called predecessor. After, it is time to determine the possible start date for each task. This can be done by computing ti mes on the project network. The project network technique Precedence Diagramming Method - PDM allows us to define the starting, finishing times for each activity, total project duration, and the critical path. The critical path is the shortest period in which the project can be completed. After the time calculation, we can find a better way to show the task times. The most common way is the Gantt Chart. The Gantt Chart illustrates the start and finish times, or dates, for each task in a type of bar chart. It is like a project calendar. Each task has a bar drawn between its start and finish dates. The fourth scheduling step, it's when we try to optimize project schedule. The three most important optimization strategies are: - Balancing workload is the activity to make sure each team member has a realistic work-hours planned in a period. - Then, it is always important to verify if we can reduce the project duration. You can try to allocate extra resource for the tasks in the critical path; a method called project crashing. Or try to overlap execution of some tasks, what is called fast tracking. - Third, evaluate the significant execution risks, and maybe accommodate buffers between tasks. So, the project starts with an idea, sometimes not well defined. In the project chart, the idea became more apparent; it is better outlined. During the planning, the project team work on the idea, define the scope, project boundaries. The project is divided into logical pieces, sections, until well-defined tasks or work packages. The planning is developed based on the tasks. For each task, durations, resources, costs, sequence, risks are defined. Project team works in each task according to the schedule. In the end, the project product is delivered, hopefully, according to the client's initial idea. MY SOCIAL MEDIA AND CONTACT MEDIA YOUTUBE CHANNEL: www.youtube.com/c/americoelearning E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure.
Views: 1403 Americo e-Learning
Break-even 101 - Calculate break-even for buy or make decision and process selection in Supply Chain
 
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Break-even is decision-making tool very important for business professionals. Break-even analysis is not just a mathematical formula, it is an important technique, that combined with others, can provide support to the decision-making process. In this video, we learn how to do the breakeven analysis. How to calculate the breakeven point (BEP) in financial analysis, buy or make a decision, and production process selection. . Learn here, quickly, and succeed in university assignments, job interviews, and get a good job. That's why we are doing these videos. The 3 most important applications of break-even analysis on business decisions are: (1) Determine the quantity of sold units at which the costs equal revenues (2) Find the quantity demanded at which the buying costs equal the internal production costs (3) Compare business processes and determine the lowest cost for requested quantity range. By Americo Cunha, PhD MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: breakeven cost, break even calculation, breakeven quantity, breakeven calculation, cross point cost analysis, breakeven examples, break even cost chart, breakeven chart, break even for bba, break even for mba, buy or make calculation, cross point cost chart, manufacturing process selection,cross point analysis, breakeven for bba, breakeven for mba, breakeven quantity calculation, break-even quantity calculation, breakeven quantity vs cost, break-even quantity vs cost MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. -~-~~-~~~-~~-~- Please watch: "RFP 101 - Request for proposal in Purchasing Management" https://www.youtube.com/watch?v=QIOR7Dnm0Uk -~-~~-~~~-~~-~-
Views: 1483 Americo e-Learning
Lesson 1 - Why do companies need Business Process Modeling? BPM & process modeling strategy
 
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Why do companies need Business Process Modeling? Workflow mapping is essential for the business performance. Although, several business professionals still complain about the lack of visibility in business? In reality, Is there any hidden workflow? What are the risks? Any flow of work in companies is somehow Work is executed physically or mentally. The results are reported to an information system in the network or as people say today in the clouds. Once one workstation finishes the job, the results are sent to the next workstation in the workflow. And the cycle repeats until the last step of the process. This type of context represents very well what happens every day in several companies in the world. To succeed, companies have to understand, describe, input the business rules about the work flow steps in an information system. But the challenge, I would say the major challenge is to describe tasks that we cannot been seen, because the task can be done mentally, or executed automatically in a mysterious system in the clouds. The job of a process modeling analyst is to describe the workflows, map sequence of tasks, and identify the business rules and present them as a visual illustration called process maps. Workers most of the time are seated in front of their computers, reading, writing, analysing information, clicking on some link. The information system, people do their job, return the results to the information system. Then the information system delivery the next step of the work to the following workstation in the process. We may say that every keystroke turns, several wheels in the real world that we don’t see! The central message about the need for process modeling is linked with how to drive the business if you cannot see the work. The challenge of lack of visibility of the process steps and rules are very critical nowadays. Like the importance of a GPS to provide directions when we are driving on unknown roads, the business process models are really critical tools to manage businesses. Why do we need business process? Let's consider 3 major elements. - The real work done by someone - The work representation or, in our case, the process model, - the information systems, or enterprise information systems. So, why do we need to map the work flow? Yes, to understand, to analyze, to manage, to improve the business workflow or processes Once we have work flow map, what we can do then? we can implement the procedures in an information system. For what? To improve productivity and quality, to automate the work and reduce costs, to develop support systems to manage and control the task execution more efficiently. And after, the systems can direct/guide the workers through the activities and procedures. The information systems called workflow system send the work requests according to the process model. Also, in case, the company has a new employee, he can learn fast if he/she can see how the work is executed. This cycle illustrates very well the importance of business process in organizations. The real work and processes are documented and then implemented in the enterprise information systems, which in turn manage and control the work to be performed.
Views: 469 Americo e-Learning
Lesson 4 - Project risks 101 - what are the project risk types?  Learn project risk management
 
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This video presents the key risk concepts in project management. You will learn quickly what the risks types in projects are, such as, risk event, uncertainty, types, and impact on projects. What is a risk? In my experience, I realized that there are a lot of misconceptions regarding the concept of risk. Some people think that all bad news are risks, this is not true. Also, some people believe every uncertainty is a risk, that is also not true. We can say that a risk has two components (1) It is an uncertain event, might or not happen, has a probability of happening. (2) has an impact on project objectives, that can be a positive or a negative impact. A project risk is an uncertain event that impacts project objectives or impacts the objective of one project activity, work package, deliverable, or the whole project. The word objective should be understood under the triple project constraint, that is scope, time, cost, plus quality. Some risks can affect the project as a whole called overall project risks, and another group of risks that affect individual activities or work packages called individual risks. Overall project risk represents the effect of uncertainty on the project as a whole, it represents the exposure of stakeholders to the implications of the event on the project outcome. The individual risks affect one or more project components. They are directly related to specifics objectives of individual tasks or work packages. The second very useful classification to identify and understand the risk consequences is related to the risk "nature." The four classifications are: (1) Event risks These risks are uncertain future events that may or not happen, and if it happens it will affect a task or work package objectives. I have heard several of my students saying that inclement weather is a risk. Inclement or severe weather condition is not a risk per se. It is for sure an uncertain event. It is a risk if it impacts a project task objective, can be task duration, task quality, task scope, or task cost. For instance, if a severe weather condition impacts the execution of an outdoor project task, it is a risk for the task. If the project is performed indoors, and the stormy wheater does not affect project task execution and outcomes, it is not a risk. This is the most common risk type, but there are others of different nature. (2) Variability risks The second risk is very well understood by people that work on quality management in manufacturing but not well considered in the project management field. It is called variability risk. It differs from event risk because it is not a single occurrence. Any work process has some level of variation, can be in task duration or outcomes. For instance, to paint the walls a room may take 4 hours in average. If the project is to paint 100 rooms in a hotel, we may estimate 400 hours, but the worker is not a machine. Naturally, the duration will vary maybe minus plus 10%. Therefore the duration may range from 360 to 440 hours. We can develop the same reasoning for cost and quality. Therefore, other things beyond single occurrence risk can affect project objectives. (3) Ambiguity risks Ambiguity risk is related to a known, an obvious lack of knowledge in project tasks. It means that the project team knows that they do not have all information or knowledge about a task. For instance, I have worked on several software development projects. The initial step of these projects is to gather the user's demands and requirements. The project team usually knowns that it is impossible to have a formal specification that reflects integrally what the users need in the software. Therefore, it is widely known the user specification is always incomplete, regardless of the effort and dedication of the project team. This is an authentic situation in which the ambiguity risk is present. The better way of mitigating this type of risk is to conduct a prototype analysis and validation once the project team advances on the software development. (4) Emergent risk The fourth risk type is what can is called unknown-unknown risks. However, I like the definition adopted by Dr. David Hillson, emergent risk to define unknown-and-unknowable unknowns. These are risks entirely outside the project team radar. The team just know that something can happen and interfere with the project execution and outcome. For instance, imagine a farmaceutical drug development project when a competitor launches new medical with a cutting-edge technology the provides much more benefits than the product in development. It is a risk completely outside of the project team knowledge framework, impossible to be known in advance. The critical challenge is to identify essential business functions and critical tasks and develop a continuity plan in case of disruption. Business continuity strategies are beneficial to deal with unknown-and-unknowable risk.
Views: 454 Americo e-Learning
Lesson 3 - BPMN Webinar - Introduction to BPMN map with basic symbols in real process map example
 
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In this BPMN lesson, we present a BPMN tutorial with a real BPMN example. Also, we compare BPMN map vs. Flowchart map in the same business process example. The BPMN map lesson is an introduction to BPMN business process with a real case in powerpoint Learn how to create a BPMN business process in MS-PowerPoint. In this webinar, we present a flowchart tutorial, how to collect information to map a process, and end with a real case study using Microsoft PowerPoint. In this video, you can watch the selected sections of live lecture taught for college business students. In the lecture, the main topics (and time in the video) are: (1) Process modeling review: 01m10s (2) Flowchart vs. BPMN: 03m32s (3) Real example analysis: 16m09s (4) Convert a Flowchart map into BPMN: 24m13s Topics covered in this video: process modeling BPMN, BPMN and flowchart, intro to BPMN diagram, flowchart or BPMN, intro to BPMN diagram, BPMN process in MS-PowerPoint, how to map bpmn, process BPMN, BPMN introduction, bpmn for beginners, bpmn diagram for beginners, BPMN example, practical BPMN, intro to BPMN
Views: 127 Americo e-Learning
Lesson 2 - Flowchart business process: Webinar on flowchart map tutorial, real example in PowerPoint
 
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In this flowchart lesson you will learn how to create a flowchart business process map in MS-PowerPoint. In this flowchart webinar, we present a flowchart map tutorial, how to collect information to map a process, and end with a real case study using Microsoft PowerPoint. In this video, you can watch the selected sections of live lecture taught for college business students. In the lecture, the main topics (and time in the video) are: 1- What is the flowcharting technique? (00m50s) We discuss what the flowchart technique for business process mapping is. We present the main notation and representation rules. 2- How to collect information about the business process (06m34s) We present 6 hints how to get information to support the process mapping - Case study (12m12s): computer fulfillment process. A brief description of o real fulfillment process to assemble computers. 3- How to do a process mapping using MS-PowerPoint (21m04s). In this topic, we create live a flowchart map in MS-PowerPoint for the process of the case study
Views: 203 Americo e-Learning
Subscribe Americo e-Learning: get better marks, be ready for job interviews, and succeed SCM careers
 
01:57
MISSION STATEMENT My mission is to provide practical courses in business analysis for effective professionals. The objective is to keep the focus on the essential needs of professionals that work within short due dates and under pressure. We provide a hands-on learning process. During the courses, my students have the opportunity of developing skills such as problem-solving, critical thinking, and quali-quantitative analysis in practical business applications. My sessions started with the basics, then practice, implementation in a supporting software, and at the end, recommendations for a professional presentation. We cover the complete cycle, from the analysis to the business presentation. My background includes D.Sc. in Industrial Engineering, and MBA, and 20+ years of hands-on experience in service and manufacturing industry. My teaching differentials represent a combined approach with a deep understanding of Business Management models, real case assessments, and personal testimony from my multifaceted experience. My extensive hands-on business experience (20+ years) along with proper teaching methods has been contributing to my students’ success since my first teaching assignment 15 years ago. MY SOCIAL MEDIA AND CONTACT MEDIA E-MAIL: [email protected] WEBSITE: www.americoelearning.com TWITTER: @AmericoBC TWITTER WEBSITE: https://twitter.com/AmericoBC LINKEDIN: https://ca.linkedin.com/in/americobc Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, breAk-even analysis, operations management lecture, operations management 101, business process mapping, flowcharting mapping, breakeven cost, break even calculation, breakeven quantity, breakeven calculation, cross point cost analysis, breakeven examples, break even cost chart, breakeven chart, break even for bba, break even for mba, buy or make calculation, cross point cost chart, manufacturing process selection,cross point analysis, breakeven for bba, breakeven for mba, breakeven quantity calculation, break-even quantity calculation, breakeven quantity vs cost, break-even quantity vs cost, weighted scoring method, multicriteria analysis, weighted scoring calculation, weighted scoring chart, weighted scoring table, multiple-criteria decision analysis, multiple-criteria decision, multi-criteria examples
Views: 99 Americo e-Learning

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