Certificate in the Basics of Purchasing Management - Online

Registrations for Online courses accepted starting 01/1/19 through 12/31/19.

Contact Hours: 200

Course Description

Certificate in the Basics of Purchasing Management online is for those who want to learn the basics of procurement, purchasing, pricing, and supplier contracting. It is useful for those who will both have management responsibilities and who seek to pursue management opportunities.

Our Basics of Purchasing Management offers comprehensive training in many important areas, including: 

• Developing a corporate culture
• Prepare and manage a budget in an organization
• Use financial statements to prepare and structure your budget
• Evaluating price and costs
• Use ratios to analyze company's financial position
• Cover the supplier selection process
• Explore the contracting process

The Basics of Purchasing Management includes 5 courses: 

1. Management Essentials
2. Budgeting Essentials
3. Price and Cost Analysis
4. The Procurement Process
5. Supplier Contracting

Please note: Course of study may be completed earlier than indicated and students retain access for one year from the date of enrollment.

Outcome

Upon successful completion, students will be well-prepared to work in the procurement and supply management areas of business.

Assessment

Assessment Tools:

• Exams
• Quizzes
• Practical Experience
• Online Exercises

Required Book(s)

All training is delivered online; no additional purchase required.

Outline

Management Essentials
I.          The culture of an organization
II.         Organizational change and resistance to change
III.        Power and influence leaders use
IV.        Leadership theories
                a. Leaders are born
                b. Leaders are made
V.         Strategies and Strategic thinking
                a. Strategic planning
                b. Strategic Plan
                c. Kerry Napuk's 5-step Model
VI.         Decision-Making
VII.        Managing quality with "best practices"
VIII.       Human Resource procedures and policies
IX.         Financial accountability
                a. Budgeting
                b. Balance sheet
                c. Income statement

Budgeting Essentials
I.         Concept of budgeting
                a. Benefits of budgeting
                b. Zero-based budgeting
II.         Activity-based budgeting
III.        Factors that impact budgeting
                a. Pricing
                b. Market research
                c. Credit and invoicing
IV.        Production Planning
V.         How inventory impacts the budgeting process

Price and Cost Analysis
I.         Price evaluation
                a. Compare competitive prices
                b. Evaluate reasonableness of proposed costs
II.         Use of data
                a. Analyze the data to make price comparisons
                b. Produce an index number
III.         Strategic cost analysis
                a. Ratios to use to analyze a company's financial position
                b. Improve profitability
IV.         Maximizing the timing of cash-in and cash-out for your organization
V.         Using outsourcing in your organization

The Procurement Process
I.         Elements of supplier selection process
II.        The supplier evaluation process
III.       The bidding process
                a. Key elements of a RFQ
                b. Key elements of an RFP and RFB
IV.       The procurement process
                a. Strong suppliers are key in the supply chain process

Supplier Contracting
I.         General Contract Principles
                a.Determine if there is an offer
        i.        Definiteness and certainty of the offer
        ii.      Determine offer's intent
        iii.     Determine if there is acceptance and consideration
                b. Duties and obligations under a contract
                c. Drafting contracts
                d. Importance of a contract
II.         Contract drafting
                a. Hierarchy of a document
                b. Provisions in the document
                c. Clauses in contracts
III.        Types of contracts used in purchasing
                a. The purchase order
                b. Non-disclosure agreement
                c. The manufacture agreement

                d. A reseller agreement
IV.        Agency law determines who has the authority act on behalf of the organization