Procurement, like many areas of modern business, is an ever evolving, continuously advancing function within the supply chain. For those taking their first steps into procurement understanding the main responsibilities of the department can be challenging and for those already working within procurement keeping up with the new and effective methodology can seem impossible. That’s why we have created the introduction to procurement bite-size course, breaking down the many functions and responsibilities of this vitally important part of modern business.
The Introduction to the Procurement Function bite-size course has been written and developed by experts with combined experience, totalling decades of working in the procurement sector and the wider supply chain industry. Using first-hand knowledge and experience of procurement requirements and functions, within modern business, the introductory course has been written to support you with expanding your understanding of:
- The main functions of a procurement system
- How to develop specifications
- How to research suppliers and evaluate the responses
- The ‘six rights’
- The purchasing cycle, the stages of the life cycle and the stages of the purchasing process
- Private and public organisations
- The many methods of communicating
- Stakeholders and how to connect with the internal stakeholders
The course is designed to give you a detailed introduction to, and understanding of, the function(s) of procurement within the supply chain perfect for individuals looking to move into procurement and providing those individuals who already work within procurement with modern methodology to help them stay relevant in an ever developing industry.
The bite-size course commences by exploring the different functions of procurement and the procurement system, breaking down each part of procurement and how different roles, processes and systems can work effectively together, providing support, to achieve the overall objectives of the procurement function.
Once you have an understanding of the different function within procurement you then move on to identifying the needs of your organisation and the most effective ways to carry out this analysis. The needs of a business must be identified as a priority so that procurement professionals can then begin the process of fulfilling these needs those specification creation, supplier research and sourcing including the process to follow when you are ready to send out RFQ (Request for Quotation) or ITT (Invitation to Tender) documents to potential suppliers, how to evaluate the responses you receive to enable you to choose a new supplier, and how to successfully on-board a new supplier for your organisation. Further into the course, you will not only take a look at how to review supplier contracts and how to manage them, but you will also gain insight as to how to select the most appropriate supplier(s) for your organisation.
As with all industries, for anyone working within procurement, there are certain requirements and methodologies that are imperative to achieving success. The ‘Six-Rights’ are one such example. We explore what the six rights are, and why they are so important before moving on to discover the purchasing cycle. We break down each of the stages within the purchasing process model providing you with an in-depth understanding of what is involved at each stage. This section of the course concludes by looking at the life-cycle, using imagery that helps you understand the concept.
The final section of the course explores procurement within the private and public sectors. Investigating how they select and evaluate suppliers for their organisations. Throughout this course you will gain an in-depth understanding of supplier development, the many different methods of communication, stakeholders and finally, how to connect with the internal stakeholders.
