Fundamentals of Purchasing
Learn the Latest Purchasing Methods and Strategies to Improve the Quality and Reduce Costs
In today's competitive global marketplace, effective purchasing strategies are essential for driving organizational success. This training course is designed to equip professionals with the advanced skills needed to navigate complex supply chain dynamics and improve overall efficiency. (CPE credits available)
Who Should Attend
Buyers in service, manufacturing, health care, government, and office purchasing. Whether you are a new purchasing professional or a veteran, this course will be valued for its strong emphasis on real world practices and corporate teamwork.
Training Benefits
- Apply negotiation techniques to compete in a global environment
- Recall how to develop and send your RFQ
- Recognize specialized purchasing instruments and contracting methods
- Evaluate and choose your suppliers to reduce costs and improve quality
- Build knowledge of legal and ethical requirements and issues
- Interpret the tools for enhancing material and product flow
Overview of Concepts and Deliverables
- Translate the purchasing cycle and its relationship to the supply chain
- Distinguish ethical and legal aspects of purchasing law
- Recognize how to select and qualify suppliers
- Apply the concepts of inventory turns and JIT to purchasing
- Analyze how the Uniform Commercial Code relates to purchasing
- Recall the basic parts of a contract
- Recognize how blanket orders/blanket purchasing agreements are used
- Produce savvy negotiating skills
- Identify how E-procurement can save you money
- Evaluate the logistics of international purchasing
- Determine how to calculate price analysis to assess competitive market pricing
- Determine how to calculate cost analysis to better negotiate with a supplier
- Detect the keys used to measure buyer’s performance and make purchasing a profit center
- Acquire a working knowledge of how to use cross-functional teams to create a positive impact on purchasing