Kodjo Adams, GNA
Accra, Sept. 16, GNA-KRIF Ghana Limited is set to equip procurement professionals and organisational decision-makers with practical tools to make smarter purchasing decisions as it launches its first-ever Procurement Masterclass 2026.
The masterclass, scheduled for Wednesday, September 30, 2026, in Accra, will focus on helping organisations look beyond purchase price and assess the broader value and risks associated with procurement decisions.
A statement from KRIF Ghana Limited, the organisers, and sponsors of the event, issued to the Ghana News Agency in Accra, said the programme would start at 0800 hours.
Held under the theme: “Buying Better: Cost, Quality, Risk and Total Value in Workplace Procurement”, the programme would bring together procurement professionals, managers, business owners and other decision-makers for a practical exploration of how organisations can improve purchasing outcomes.
“The central message of the masterclass is that the cheapest option is not always the most economical choice,” the statement said.
Participants will examine the concept of total cost of ownership, taking into account factors such as the initial purchase price, consumables, maintenance, downtime, and eventual replacement when determining the true cost of a procurement decision.
The masterclass would also address supplier risk, with participants learning how to assess factors including supplier reliability, warranties, after-sales service, product authenticity, availability, and supplier capacity before committing organisational resources.
Another area of focus would be the development of effective procurement specifications that maintain quality standards without unnecessarily limiting competition.
The programme, the statement stressed, would also promote transparency, ethical purchasing and procurement decisions that could demonstrate measurable value to organisations.
“Unlike conventional lecture-based training, the masterclass would adopt a practical, hands-on approach.
“Participants will engage in case studies, group exercises, simulations and real-life organisational scenarios designed to mirror challenges encountered in procurement processes,” it said.
The statement said sessions would include “Beyond the Lowest Price”, “The Hidden Cost of Cheap” and “Procurement Without Regret”.
These would be followed by a Live Procurement Challenge and a Procurement Challenge Lab, where participants would work through realistic procurement problems from planning through to contract award.
It said the initiative was intended to strengthen the capacity of professionals to plan, manage, evaluate, and monitor procurement processes while promoting value for money, transparency, accountability, fair supplier selection, efficiency, ethical conduct, and effective contract management.
The statement said the focus on procurement reflected the increasing importance of professional purchasing to institutional performance, with procurement professionals demanding greater measurable value, lifecycle support, compliance, and accountability from suppliers.
The statement said interested participants could contact the organisers on 0244-681997.
GNA
Edited Linda Asante Agyei