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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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