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Fundamentals of Purchasing for New Buyers

Classroom based course with study materials, lecturer support and CPD Hours included


London Training For Excellence

Summary

Price
£4,200 inc VAT
Study method
Online, self-paced
Duration
5 days
Qualification
No formal qualification
Additional info
  • Tutor is available to students

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Overview

Learning Objectives: Be familiar with the fundamentals of Purchasing. Recognize the new roles of Purchasing and buyers. Become a more efficient and productive buyer through applying the techniques of purchasing management. Improve the services provided by your suppliers through more effective negotiations and planning. Understand the ethical/legal aspects of purchasing and its possible liabilities. Attain a better negotiating position through cost analysis. Identify hidden costs and make better buying decisions. Increase your company’s savings through better purchasing management – and increase your chances for success. Find out how to select and qualify suppliers.

Description

  • Introduction.
  • How Purchasing Management Adds Value to the Firm:

The purchasing cycle.
Key criteria used to measure a buyer’s performance.
Cost reduction.
Purchasing management policies, procedures, controls and standards.

  • Supplier Relations:

Requisition and purchasing policies.
Solicitation process: why various types of solicitation are used.
How to qualify and pre-select suppliers.
Assessing the risk in doing business with a supplier.
Assessing competitive market pricing.

  • Specialized Purchasing Management Tools:

Purchasing/procurement card.
Service contracts.

  • Exercises and case studies.

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Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as ABC Awards and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.

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