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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 organization.

In this two-day course, you’ll 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.

2 Day

Purchasing and Procurement Basics

14 PDUs

Personal Development Unit

What Will Students Learn?

  • Describe what a supply chain is
  • [/fusion_li_item]Describe the procurement department’s role within the organization[/fusion_li_item] [/fusion_li_item]Understand the principles of the purchasing cycle[/fusion_li_item]Apply the steps needed for managing a competitive bid process, from the request for proposals or qualifications through to negotiating the contract[/fusion_li_item] [/fusion_li_item]Know what it takes to set up a competitive bid for a contract[/fusion_li_item] [/fusion_li_item]Defend their position on why a particular supplier should be selected based on an evaluation strategy[/fusion_li_item] [/fusion_li_item]Be responsible for managing supplier performance, including controlling quality and setting and monitoring standards[/fusion_li_item] [/fusion_li_item]Apply the tools of the procurement trade, from PC-based applications to cloud-based solutions[/fusion_li_item]

Course Overview

We will spend the first part of the day getting to know other participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.

Supply Chain Management Basics

The complexities of supply chain management are constantly evolving and they are discussed, along with related terms, in this session.

The Purchasing Cycle

This session covers topics related to the purchasing cycle such as how to introduce predictability, processes, and structure.

Purchasing Toolkit

In this session, students’ toolkits will be stocked with the items they need to make their way through purchasing. They will learn about essentials such as how to calculate costs and pricing, supplier evaluation methods, negotiation techniques, and interview skills.

Managing Competitive Bids

Getting the best bid for their purchasing requirements is vital for your students. Students will be given a boost with this session, which looks at using requests for qualifications and proposals. Contract development and ethics also get a thorough consideration here as well.

Improving Efficiency and Accuracy

We will help students find suppliers that are as dedicated to efficiency and fiscal responsibility as they are with the skills covered in this session. Here, they will learn the basics of managing supplier performance, controlling quality, and setting delivery standards.

Analyzing and Reducing Risk in the Supply Chain

This session will help students get comfortable talking about calculated risks and making good decisions in the purchasing process. Agile procurement is covered as well.

Managing Internal Relationships

Procurement should be looked at as an integral part of any business. That concept is looked at here with a discussion of procurement’s role in an organization, and how cross-functional teams can assist in getting the desired results.

Tools of the Trade

Errors, waste, and unnecessary repetition can all be eliminated from the procurement system with the effective implementation of digital tools. In this session, students are introduced to the helpful tools and e-commerce techniques. They will also learn and how to evaluate their departments for successful efficiency.

Workshop Wrap-Up

At the end of the course, students will have an opportunity to ask questions and fill out an action plan.