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, 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 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