Purchasing and Procurement Basics
Have you ever thought about the different ways that a procurement manager can contribute to a company’s success? After all, without someone managing the flow of goods and services into the organization, events like the following are real possibilities:
- Not enough products to fulfill customer demand
- Missed opportunities for bulk orders that could save money
- Lack of consistency in communication to suppliers
- Poor information management, which can lead to poor decision making
- Money wasted on rush orders and expedited shipping
This course will introduce you to the basics of purchasing and procurement so that you can contribute to your company’s success.
Purchasing and procurement functions are about much more than bringing goods and services into an organization. They are the foundation of strong, collaborative relationships with suppliers. Since many companies source products from around the globe more frequently than ever, a procurement manager needs strong capabilities. These skills cannot just be learned on the job: they need to be taught. As well, the value of procurement is now recognized as an integral part of cost control within the organization.
In this course, you’ll learn the basics of procurement, including what a supply chain looks like, the purchasing cycle, essential tools and strategies for making the best purchasing relationships work, managing bids, and more.
After you complete this course, you will be able to:
- Describe what a supply chain is.
- Describe your procurement department’s role within the organization.
- Understand the principles of the purchasing cycle.
- Apply the steps needed for managing a competitive bid process, from the request for proposals or qualifications through to negotiating the contract.
- Know what it takes to set up a competitive bid for a contract.
- Defend your position on why a particular supplier should be selected based on an evaluation strategy.
- Be responsible for managing supplier performance, including controlling quality and setting and monitoring standards.
- Apply the tools of the procurement trade, from PC-based applications to cloud-based solutions.
For the remainder of 2022 fees are reduced from $1800.00 to $1500.00. This includes all course material, and students may pay in 2 installments.