Free online coursePurchasing management

Course Description

Immerse yourself in the intricacies of corporate purchasing with "Purchasing Management." This meticulously crafted course, spanning 1 hour and 20 minutes, holds a commendable rating of 4.85 out of 5 stars. Designed for those aiming to excel in Business Administration, particularly in the subcategory of Purchasing Management, this course offers a comprehensive exploration of fundamental and advanced concepts. Imagine stepping into a streamlined learning experience that could position you favorably in the competitive landscape of corporate purchasing.

From foundational terminology to strategic roles within purchasing management, Lesson 1 - "Purchasing Management - Concepts 101,” provides the bedrock knowledge essential for understanding corporate purchasing. The journey continues with Lesson 2 - "Purchasing Management - SCM 101," where practical insights geared towards job readiness in corporate purchasing are imparted. These initial lessons serve as the pillars, preparing learners for more nuanced discussions to follow.

Delve deeper with Lesson 3 - "Purchasing Strategy 101," which elucidates the critical strategic roles that form the core of effective purchasing management. By understanding these roles, students gain the ability to navigate and influence the purchasing landscape skillfully. Lesson 4 expands on this foundation by examining the various types of supplies, materials, and services companies typically purchase.

In Lesson 5, titled "Purchasing Process 101," learners are introduced to the essential workflows and processes integral to the supply chain. This lesson equips students with a clear understanding of the procedural aspects of purchasing management, ensuring they can operate efficiently within this sector.

Sourcing becomes the focus in Lesson 6 - "SCM Sourcing 101," where students learn the intricacies of procuring materials effectively. It’s a crucial skill for anyone looking to excel in procurement and purchasing management roles. Following this, Lesson 7 - "Purchasing Portfolio Strategy," introduces strategic planning tools like the Portfolio Matrix, RFPs, RFQs, and RFIs, empowering learners to determine the best purchasing strategies and enhancing their job prospects.

The course also dedicates segments to key aspects such as "Request for Proposal (RFP)" and "Contract Management 101," covering essential topics like fixed-price, cost-based, and time & materials contracts. These modules are designed to give students a competitive edge in managing purchasing contracts effectively.

Further enhancing decision-making skills, the module "Weighted Scoring 101," teaches the use of decision matrices for ranking and prioritization. This practical tool is valuable for making well-informed purchasing decisions. Finally, the course wraps up with "Break-even 101," which focuses on calculating the break-even point for buy-or-make decisions and process selection in the supply chain, rounding out a holistic learning experience.

Whether you're starting your journey in corporate purchasing or seeking to deepen your expertise, "Purchasing Management" provides the knowledge and tools necessary to excel in the field. Elevate your career prospects with practical insights and strategic acumen in purchasing management.