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, 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 Topics are Covered?
- Supply Chain Management Basics
- The Purchasing Cycle
- Purchasing Toolkit
- Managing Competitive Bids
- Improving Efficiency and Accuracy
- Analyzing and Reducing Risk in the Supply Chain
- Managing Internal Relationships
- Tools of the Trade
What Will Students Learn?
- Describe what a supply chain is
- Describe the 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 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
- Lectures 41
- Quizzes 1
- Duration 18 hours
- Language English
- Students 598
- Assessments Yes
Lesson One: Course Overview
Students will have an opportunity to identify their personal learning objectives.
Lesson Two: Supply Chain Management Basics
The complexities of supply chain management are constantly evolving and they are discussed, along with related terms, in this lesson.
Lesson Three: The Purchasing Cycle
This lesson covers topics related to the purchasing cycle such as how to introduce predictability, processes, and structure.
Lesson Four: Purchasing Toolkit
Students will learn about essentials such as how to calculate costs and pricing, supplier evaluation methods, negotiation techniques, and interview skills.
Lesson Five: Managing Competitive Bids
Getting the best bid for their purchasing requirements is vital for you. Give yourself a boost with this lesson, which looks at using requests for qualifications and proposals. Contract development and ethics also get a thorough consideration here as well.
Lesson Six: Improving Efficiency and Accuracy
Students will find suppliers that are as dedicated to efficiency and fiscal responsibility as they are with the skills covered in this lesson. Here, students will learn the basics of managing supplier performance, controlling quality, and setting delivery standards.
Lesson Seven: Analyzing and Reducing Risk in the Supply Chain
This lesson will help students get comfortable talking about calculated risks and making good decisions in the purchasing process. Agile procurement is covered as well.
Lesson Eight: Managing Internal Relationships
Procurement should be looked at as an integral part of any business. That concept is looked at here with a discussion of procurement’s role in an organization, and how cross-functional teams can assist in getting the desired results.
Lesson Nine: Tools of the Trade
Errors, waste, and unnecessary repetition can all be eliminated from the procurement system with the effective implementation of digital tools. In this lesson, students are introduced to the helpful tools and e-commerce techniques. They will also learn and how to evaluate their departments for successful efficiency.
Quick Reference Guide
Purchasing & Procurement BasicVery informative and useful.
and 100 students enrolled.