Fundamentals of Purchasing for the New Buyer

$2,345.00


  • Classroom

  • Onsite

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Duration: 3 Days

In this course, you will walk through every step of the purchasing management process, including negotiating and vendor and materials management. You will discover innovative ways to manage your suppliers so they deliver quality products and services on time and within your budget. You will 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.

What You Will Learn

 

  • 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

Audience

 

Buyers in service, manufacturing, health care, or office purchasing agents

Prerequistes

 

Course Outline

 

1. How Purchasing Management Adds Value to the Firm

  • Purchasing cycle
  • Key criteria used to measure a buyer's performance
  • Cost reduction
  • Purchasing management policies, procedures, controls, and standards

2. Supplier Relations

  • Requisition and purchasing policies
  • Solicitation process: why various types of solicitation are used
  • Qualifying and pre-selecting suppliers
  • Assessing the risk in doing business with a supplier

3. Price, Cost, and Total Cost of Ownership

  • Assessing competitive market pricing
  • Attaining a better negotiating position through cost analysis
  • Identifying hidden costs and making better buying decisions

4. 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

5. Legal Aspects of Buying and Selling

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

6. Purchase Agreements and Contracting Methods

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

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

  • Nature and scope of negotiations in purchasing management
  • Difference between strategy and tactics in negotiations

Course Labs