Purchasing and Procurement Basics
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 organisation. 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 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
Questions and answers
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