Purchasing Fundamentals

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Description

About This Course

Discover and master the fundamentals of purchasing by understanding your strategic and tactical roles as a purchasing practitioner. Improve your company's bottom-line profitability by learning and implementing key concepts such as negotiation, supplier sourcing and qualification, outsourcing and make-or-buy analysis. Learn the basics of supplier partnerships, capital budgeting and green buying.

In this six-week online course, you will learn how to define internal customer needs, generate purchase requisitions and purchase orders, expedite, trace and receive supplier deliveries, maintain effective purchasing records and create and manage various purchasing budgets. I will …

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About This Course Discover and master the fundamentals of purchasing by understanding your strategic and tactical roles as a purchasing practitioner. Improve your company's bottom-line profitability by learning and implementing key concepts such as negotiation, supplier sourcing and qualification, outsourcing and make-or-buy analysis. Learn the basics of supplier partnerships, capital budgeting and green buying.

In this six-week online course, you will learn how to define internal customer needs, generate purchase requisitions and purchase orders, expedite, trace and receive supplier deliveries, maintain effective purchasing records and create and manage various purchasing budgets. I will help you learn about business law, contracts, leasing, Six Sigma and total quality management (TQM). You will learn how to recruit, select and evaluate purchasing personnel, and learn the importance of business ethics.

ed2go is a global Registered Education Provider for the Project Management Institute (PMI). Registered Education Providers (R.E.P.s) offer programs and courses that are preapproved for professional development units through PMI and have been reviewed by a project management professional (PMP) to ensure that they meet PMI's expectations for professional development in project management.

This program/course is a good choice for those looking for project management experience and those aspiring to obtain a PMI credential. It's also an excellent choice for existing PMI credential holders looking for an approved activity for PMI's continuing certification PDUs. At the end of this course, you'll receive a certificate indicating your completion of PDUs equal to the number of hours of this course through ed2go, R.E.P. #3213. Please visit pmi.org to learn more about PMI's credentials and how they may fit into your continuing education plans.



About The Instructor

This course includes a knowledgeable and caring instructor who will guide you through your lessons, facilitate discussions, and answer your questions. The instructor for this course will be Tony Swaim.

Tony Swaim has helped many clients, colleagues, and students reach their professional and personal goals. He has been an online instructor since 1998 and has taught at colleges and universities across the United States since 1981. His focus areas are project management, purchasing, continuous process improvement (CPI)/Six Sigma, and supply chain management. Tony manages a successful consulting firm, and his industry experience includes 20 years of supply chain management. He earned an MBA from California State University, Long Beach, and holds professional certifications in six disciplines, including the Project Management Professional (PMPĀ®) certification from the Project Management Institute (PMIĀ®).

Syllabus

A new section of each course starts monthly. If enrolling in a series of two or more courses, please be sure to space the start date for each course at least two months apart.

Week 1

Wednesday - Lesson 01

In this first lesson, you'll learn about the various types of professional purchasing certification, including those offered by the Institute for Supply Management (ISM) and the National Institute of Government Purchasing (NIGP). We'll explore the breadth of the purchasing body of knowledge and identify several areas where purchasing provides value to organizations. You'll also discover the significance of buying on a total cost basis and learn how savings you generate for purchased materials and services improve your company's bottom-line profitability.

Friday - Lesson 02

Today, you'll learn how to set a vision and mission statement, and how to develop objectives and strategies. We'll also discuss the mechanics of creating purchase requisitions and purchase orders and how to use them effectively. We'll finish up by exploring different conditions that benefit from negotiation and the steps and techniques that contribute to a successful outcome.

Week 2

Wednesday - Lesson 03

All organizations use a purchasing cycle to manage buying activities. To help you effectively manage purchasing activities, this lesson presents a seven step-cycle that begins with need recognition and ends with receipt of delivery. We'll discuss the first five steps in depth, and see how specifications, branding, and samples are three common methods for defining user needs. You'll also learn about four different forms of competition (monopoly, oligopoly, full competition, and perfect competition) and see how competition affects prices.

Friday - Lesson 04

In this lesson, we'll conclude our exploration of the purchasing cycle by discussing steps six and seven (perform follow-up and receive the delivery). Then we'll examine expediting, follow-up, and tracing as methods to enhance on-time deliveries. You'll also learn how purchasing supports the receiving function and discover the underlying concepts of make or buy and leasing.

Week 3

Wednesday - Lesson 05

As a purchasing professional, you depend on your suppliers. After all, without capable suppliers, it would be very difficult (if not impossible) to meet your organization's needs. So today we'll discuss the importance of proper source selection, and how to prepare a prospective supplier list. You'll find out how to evaluate each supplier-sourcing element and determine when to conduct a supplier visit.

Friday - Lesson 06

Green buying is an extremely important organizational concept. Firms that use it successfully achieve internal objectives and also satisfy societal goals. In this lesson, we'll discuss the purpose of green buying and review its 3Rs (reduce, reuse, and recycle). To help you locate historical information when you need it, we'll investigate the various types of purchasing records and discuss electronic record keeping and reporting. You'll also learn all about competitive bidding and understand how to use a request for quotation (RFQ) or a request for proposal (RFP).

Week 4

Wednesday - Lesson 07

In today's lesson, we'll discuss important legal matters that purchasing professionals encounter daily. We'll begin by looking at business law and then move on to talk about contracts. You'll learn about the principal-agency relationship and the four major forms of organization (sole proprietorships, general partnerships, limited partnerships, and corporations).

Friday - Lesson 08

Suppliers rely on manufacturing and quality systems. Purchasing professionals need to know about these systems because their use (successful or unsuccessful) highly influences suppliers' abilities to fill your purchase orders on-time, with quality, and at a desirable price. Today, we'll look at Six Sigma and Total Quality Management (TQM), and identify how these philosophies and methodologies benefit organizations. You'll learn about the elements of a supply chain, Manufacturing Resource Planning (MRP II), and Enterprise Resource Planning (ERP).

Week 5

Wednesday - Lesson 09

Purchasing, as a major organizational function, is involved with a number of different types of budgets. These budgets include the purchasing department administration budget (also known as an expense budget), the production materials budget, and the maintenance, repair, and operating (MRO) budget. To use budgets wisely, you need to know how they work, what they are supposed to accomplish, and how they are constructed. In this lesson, you'll discover the primary purposes, advantages, and disadvantages of budgets. We'll cover how to select a budget period, review variable budgets, and understand budget variances.

Friday - Lesson 10

For many organizations, capital expenditures represent the largest disbursement of funds. And purchasing practitioners play a number of roles in capital budgeting including assisting with requests for capital expenditures, serving on capital budget evaluation committees, and leading teams to acquire capital assets. Today's lesson will help you effectively participate in these activities. You'll learn the definition of capital budgeting, understand the initiation process for capital request proposals, and examine different justification methods for project proposals.

Week 6

Wednesday - Lesson 11

A supplier partnership is a fairly recent type of arrangement. It characterizes a progressive way for sellers and buyers to work together. Supplier partnerships require an extensive amount of preparation and commitment, but the payoff is substantial for firms that succeed. Today, we'll discuss the prerequisites and elements of a supplier partnership. We'll also explore ethics and organizational politics and study their effects on purchasing practitioners.

Friday - Lesson 12

In our final lesson, you'll discover how to recruit, select, and evaluate purchasing personnel. Then you'll learn how to implement a performance planning process, including administering performance reviews. And finally, you'll find out why so many people dislike giving performance reviews and get tips on how to make your reviews more meaningful.


Requirements

Internet access, e-mail, and the Microsoft Internet Explorer or Mozilla Firefox Web browser.

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