Fundamentals of Purchasing for the New Buyer

Total time
Logo American Management Association

Need more information? Get more details on the site of the provider.

Starting dates and places

There are no known starting dates for this product.

Description

Increase your company's savings through better purchasing techniquesThis fundamentals seminar is taught by leaders in the field who will walk through every step of the purchasing management process, including negotiating and vendor and materials management. Find innovative ways to manage your suppliers so they deliver quality products and services on time and within your budget…learn how e-procurement can help you save money and exploit sales opportunities…and recognize the impact you have on the financial side of your business.

Also Available as:
  • Onsite

How You Will Benefit

  • Become a more efficient and productive buyer through applying the techniques of purchasing management
  • Improve th…

Read the complete description

Frequently asked questions

There are no frequently asked questions yet. If you have any more questions or need help, contact our customer service.

Didn't find what you were looking for? See also: Purchasing Management, Purchasing & Supply, Logistics, Supply Chain Management (SCM), and Risk Analysis.

Increase your company's savings through better purchasing techniquesThis fundamentals seminar is taught by leaders in the field who will walk through every step of the purchasing management process, including negotiating and vendor and materials management. Find innovative ways to manage your suppliers so they deliver quality products and services on time and within your budget…learn how e-procurement can help you save money and exploit sales opportunities…and recognize the impact you have on the financial side of your business.

Also Available as:
  • Onsite

How You Will Benefit

  • Become a more efficient and productive buyer through applying the techniques of purchasing management
  • Improve the services provided by your suppliers through more effective negotiations and planning
  • Understand the ethical/legal aspects of purchasing and its possible liabilities
  • Find out how to select and qualify suppliers

What You Will Cover

How Purchasing Management Adds Value to the Firm
  • The purchasing cycle
  • Key criteria used to measure a buyer’s performance
  • Cost reduction
  • Purchasing management policies, procedures, controls and standards

Supplier Relations

  • Requisition and purchasing policies
  • Solicitation process: why various types of solicitation are used
  • How to qualify and pre-select suppliers
  • Assess the risk in doing business with a supplier

Price, Cost and Total Cost of Ownership

  • Assess competitive market pricing
  • Attain a better negotiating position through cost analysis
  • How to identify hidden costs and make better buying decisions

Specialized Purchasing Management Tools

  • Pareto analysis
  • Applying JIT to purchasing
  • E-commerce and its current purchasing management applications
  • International commercial terms and global sourcing implications

The Legal Aspects of Buying and Selling

  • Federal laws that affect purchasing
  • The Uniform Commercial Code (UCC)
  • Contract law and warranties
  • Transfer of title and the risk implied

Purchase Agreements and Contracting Methods

  • Blanket orders, blanket purchasing agreements, master purchasing agreements
  • National, system and option contracts
  • Purchasing/procurement card
  • Service contracts

Negotiating Skills for the New Buyer: Conducting a Win-Win Negotiation

  • Learn the nature and scope of negotiations in purchasing management
  • Understand the difference between strategy and tactics in negotiations

Extended Seminar Outline

Print this page Extended Seminar Outline Seminar #4265

Learning Objectives

  • Develop More Effective Relationships to Source, Qualify, Solicit, and Assess Your Supplier Base
  • Increase the Buyer’s Contribution to the Organization’s Bottom Line and Enhance Customer Satisfaction
  • Use Methods and Techniques to Enhance Material and Product Flow
  • Recognize the Ethical and Legal Practices Involved in Purchasing
  • Develop a Purchasing Negotiation Strategy
  • Assess Risk and Competitive Advantage


The Buyer’s Role in Today’s Purchasing Organization

  • Explain How Purchasing Adds Value
  • Define the Supply Chain and the Buyer’s Role in Purchasing and Supply Management
  • Describe the Purchasing Cycle
  • Discuss the Importance of Cross-Functional Teams and Purchasing


Managing the Supplier Base and Relationships

  • Obtain Sufficient Purchase Description or Specification Information from Internal Customers
  • Rate Aspects of a Supplier’s Capabilities
  • Analyze a Financial Statement from a Hypothetical Supplier
  • Define How Acceptable Sources of Supply are Found in the Marketplace
  • Identify Key Principles of Soliciting, Qualifying, and Pre-Selecting Suppliers
  • Examine Key Aspects Associated with Supplier Performance


Managing Effective Procurement Decisions: Applying Price, Cost Value

  • Assess Competitive Market Pricing and the Application of Discounts
  • Analyze Costs to Calculate a Target Cost to Negotiate More Effectively with Suppliers
  • Define an Internal Cost Estimate and a Supplier’s Cost Breakdown Structure
  • Explain Learning Curves, Life Cycle Costing, and Value Analysis
  • Define Leasing, Renting, and Outsourcing
  • Describe How Identifying Total Cost of Ownership Fosters Better Buying Decisions


Tools for Enhancing Material and Product Flow

  • Explain How ABC Analysis Is Used to Make Informed Purchasing Decisions
  • Summarize the Techniques Used to Make Informed Decisions on Inventory
  • Describe How Inbound Freight Control Is Used to Improve the Total Value Provided to a Firm by a Supplier
  • Describe the Most Common INCOTERMS and Their Meaning for International Sourcing
  • Discuss How Global Sourcing Requires Additional Knowledge to Understand Supplier Selection, Payment, and Risk Implications


Understanding Specialized Purchasing Instruments and Contracting Methods

  • Identify the Basic Parts of a Contract and a Contract Planning Checklist
  • Differentiate between the Types of Purchasing Contracts and Agreements
  • Discuss Usage of Purchasing/Procurement Credit Cards and Appropriate Policies for Their Implementation
  • Describe the Service Contracting Process and Guidelines for Service Contract Supplier Selection, Agreement Provisions, and Administration
  • Apply E-Procurement Principles to the Purchasing Cycle


Professional Practices

  • Explain the Difference between Ethical and Legal Purchasing Practices
  • Describe 12 Questionable Purchasing Practices
  • Discuss the Legal Framework That Affects Purchasing
  • Explain Elements of a Breach of Contract That Remedies the Breach
  • Describe Three Kinds of Warranties—Stautory, Implied and Express
  • Discuss Key Points of the Convention for International Sales of Goods
  • Recognize Key Issues about Contract Law and How Contracts are Formed
  • Determine the Importance of the Uniform Commercial Code


Negotiating Skills for the Buyer

  • Define the Nature and Scope of Negotiations in Purchasing
  • Differentiate between Strategy and Tactics in Negotiations
  • Define Win-Win, Objective Setting, Deadline, and Authority Level
  • List the Crucial Elements of Negotiation
  • Prepare and Plan for Negotiations
  • Apply Some Negotiation Strategies, Tactics, and Counter Offers

Who Should Attend

Buyers in service, manufacturing, health care or office purchasing agents.
There are no reviews yet.

Share your review

Do you have experience with this course? Submit your review and help other people make the right choice. As a thank you for your effort we will donate $1.- to Stichting Edukans.

There are no frequently asked questions yet. If you have any more questions or need help, contact our customer service.