Purchasing and Procurement Basics
$399.00
SHORT DESCRIPTION:
In this course, you will learn the basics of purchasing and procurement. You’ll receive an introduction to the supply chain, the purchasing cycle, and basic purchasing tools. You’ll also learn about the competitive bidding process, how to manage supplier performance, risk management techniques, and ways to build relationships.
- Duration approximately 4 hours.
- Access period 30 days.
- Self-Study Guide provided.
- Quick Reference Guide provided.
- Certificate of Completion provided.
- Content last updated January 2020.
- A full description of this course is located below.
Available!
Return to StoreNot that long ago, purchasing and procurement focused on a rights-based theory: acquiring the right product of the right quality, in the right quantity, from the right source, at the right time, and at the right price.
Today, purchasing and procurement has evolved beyond this theory to include many supply chain functions, with a focus on building strong, collaborative relationships within and outside the organisation.
Purchasing and procurement functions are about much more than bringing goods and services into an organisation. 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 recognised as an integral part of cost control within the organisation.
In this significant course, students will 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.
What Will Students Learn?
- Describe what a supply chain is
- Describe the procurement department’s role within the organisation
- 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 their 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
What Topics are Covered?
- Supply Chain Management Basics
- The Purchasing Cycle
- Purchasing Toolkit
- Managing Competitive Bids
- Improving Efficiency and Accuracy
- Analysing and Reducing Risk in the Supply Chain
- Managing Internal Relationships
- Tools of the Trade
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