$297intermediate

Purchasing and Procurement Basics

Name: Purchasing and Procurement Basics
Price: 297.00 USD
Availability: InStock

A comprehensive two-day course covering the essentials of purchasing and procurement, from supply chain fundamentals and the purchasing cycle to competitive bidding, supplier performance management, risk mitigation, internal relationships, and digital procurement tools. Designed for procurement professionals and those new to the field who want to build strong, collaborative supplier relationships and drive organizational value.

24 lessons8 modules960 minutes

What you'll learn

Describe what a supply chain is and identify its five primary process areas
Describe the procurement department's role within the organization
Understand the principles and steps of the purchasing cycle
Apply the steps needed for managing a competitive bid process, from RFQ/RFP through contract negotiation
Defend supplier selection decisions using a structured evaluation strategy
Manage supplier performance by controlling quality and setting and monitoring delivery standards
Analyze and reduce risk across the supply chain using agile procurement strategies
Apply digital procurement tools, from ERP and EDI systems to e-sourcing and SRM platforms

What Is Supply Chain Management? You may be familiar with the idea that procurement is about getting the right products at the right time and at the right price — but that's only a fraction of what supply chain management actually involves. Today, purchasing has evolved to include professional standards, best practices, and a strategic focus on relationships that go well beyond placing orders. Supply chain management encompasses **all of the processes and systems** that a product or service moves through before it reaches the customer. These are organized into five primary process areas: **Inbound Logistics** – Receiving, storing, and routing incoming materials to the right place within your organization. **Operations** – Transforming raw materials into finished products through machining, assembly, packaging, testing, and similar activities. **Outbound Logistics** – Collecting, storing, and distributing finished products to buyers. **Marketing and Sales** – Introducing products to buyers and facilitating the exchange of goods for money. **Service** – Supporting the value of a product after the sale through repairs, training, installation, and warranty administration. It is critical to understand that these five functions are **interdependent**, not isolated. For example, sales and marketing must share projected demand with operations so that enough product is manufactured. Inbound logistics needs those same forecasts to source materials and staff appropriately. When these areas are treated as silos,

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Purchasing and Procurement Basics

What you'll learn

Preview a lesson

Curriculum

Supply Chain Management Basics

The Purchasing Cycle

The Purchasing Toolkit: Pricing, Costs, and Supplier Evaluation

Managing Competitive Bids

Improving Efficiency: Supplier Performance and Quality

Analyzing and Reducing Risk in the Supply Chain

Managing Internal Relationships and Procurement's Organizational Role

Tools of the Trade: Digital Systems and Procurement Technology

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