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Purchasing & Inventory

Purchasing and Procurement Basics (PRI02EO)

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Instructor

Savvy

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Course Overview

What Will Students Learn?

  • Describe what a supply chain is
  • Describe the procurement department’s role within the organization
  • 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
  • Analyzing and Reducing Risk in the Supply Chain
  • Managing Internal Relationships
  • Tools of the Trade

Course Content

  • Academy Topics

    • Course Overview

    • Learning Objectives

    • Pre-Assignment

    • Pre-Course Assessment

    • Supply Chain Management Basics

    • Defining the Terms

    • Making Connections

    • The Value of Procurement

    • Practice Makes Perfect

    • Pre-Assignment Review

    • The Purchasing Cycle

    • Cycle Overview

    • Identifying a Need

    • Researching Your Options

    • Purchasing Toolkit

    • Analyzing the Price

    • Six Categories of Cost

    • How Much?

    • Analyzing Costs

    • Evaluating Suppliers

    • Evaluation Checklist

    • Negotiation Basics

    • Effective Questions

    • Collaboration Techniques

    • The Learning Curve

    • Managing Competitive Bids

    • Purchasing Through RFP’s and Tenders

    • Making a Choice

    • Creating a Contract

    • Ethical Considerations

    • Ethical Dilemmas

    • Improving Efficiency and Accuracy

    • Managing Supplier Performance

    • Controlling Quality

    • Setting and Monitoring Delivery Standards

    • Analyzing and Reducing Risk in the Supply Chain

    • Whose Risk Is It Anyway?

    • Agile Procurement

    • A Risk Management Focus

    • Managing Internal Relationships

    • Procurement’s Role in the Organization

    • Spell It Out

    • Making Your Mark

    • Cross-Functional Teams

    • Think About It

    • Tools of the Trade

    • Digital Systems

    • E-Commerce

    • Tools of the Trade

    • Evaluating Your Department

    • Drawing Conclusions

    • Recommended Reading List

    • Personal Action Plan

    • Post-Course Assessment

Paid
  • Lessons 52
  • Skill Beginner
  • Last Update 27/02/2025