Achieving World-Class Purchasing

Lucrative Methods for Taking Your Company’s Purchase and Supply Performance to the Next Level
4.4 (38 ratings) Instead of using a simple lifetime average, Udemy calculates a
course's star rating by considering a number of different factors
such as the number of ratings, the age of ratings, and the
likelihood of fraudulent ratings.
556 students enrolled
$19
$180
89% off
Take This Course
  • Lectures 78
  • Length 10 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

Learn and practice real-world skills and achieve your goals.

About This Course

Published 9/2015 English

Course Description

Purchasing is no longer just about completing transactions. The crucial role that purchasing and supply management plays in today’s business is based on the need to create value, and those buyers who learn how to leverage their suppliers as collaborative partners will be far more likely to cultivate lucrative, long-term alliance relationships.

Given the modern-day demands of purchasing, strategies like cross-functional teams and the best-in-class analysis of the price-cost-quality relationship are vital. This course examines such tactics, along with the very real ability of a firm’s purchasing function to both reduce inherent costs within the company, and dramatically impact its positive return on investment.

This course was designed and created based on the instructor’s hands-on operational experience and real-world knowledge. With the aim of empowering your business to achieve and implement a world-class purchasing system, this course covers all the basic principles and best practices of purchasing, procurement, and supply chain management.

You’ll discover the most effective techniques for improving quality, cutting total costs, and reducing the time to market. You’ll also learn the best methods for developing and managing collaborative relationships, negotiating and managing buyer-supplier contracts, and converting your firm’s purchasing function into an integral part of its mission and overall business strategy. 

By completing this course, you’ll gain all the knowledge and practical skills you need to improve your performance as a purchasing professional, advance your company’s role as a key part of the supply chain, and design, build, and sustain a productive and highly efficient purchasing/supply management department within the framework of your organisation.

What are the requirements?

  • No previous knowledge required.
  • Computer and Internet.

What am I going to get from this course?

  • You’ll learn everything you need to know to create and maintain a successful purchasing/supply management system within your company.
  • You’ll progress through the fundamentals of purchasing, strategic sourcing, and supply management, including the roles of cross-functional teams, buyer-supplier relationship styles, and the development of collaborative relations with partnering organisations.
  • You’ll understand the significance behind early supplier involvement in the design and development of new products, as well as the need to create purchasing specifications and standardisation.
  • You’ll discover how to incorporate winning quality management approaches, tools, and methodologies into your supply management function.
  • You’ll learn how to implement both make-or-buy decisions and innovative outsourcing to cut costs, as well as how to apply the total cost of ownership methodology to support management decision making.
  • You’ll understand how to source and evaluate potential suppliers, as well as how to cultivate profitable relationships using price and cost analysis to obtain the most reasonable prices.
  • You’ll learn the most effective negotiation techniques for creating contracts that will give your company the flexibility it needs to acquire key materials and services, and that will ensure the quality specified is always delivered on time.

What is the target audience?

  • Designed for purchasing/supply chain professionals and students who want to understand and use the latest best procurement practices.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Fundamentals of Purchasing and Supply Management
Course Introduction
Preview
05:19
Section Introduction
01:27
Financial Implications of Supply Management
Preview
13:49
Strategic Supply Chain Management
06:49
Supply Management within the Organization
18:54
Cross-Functional Teams - Benefits, Challenges, Problems
08:42
Supply Management Relationships with Other Departments and External Environment
14:24
Buyer-Supplier Relationship Types
12:54
Developing and Managing Collaborative and Alliance Relationships
12:26
Section Summary
02:23
Section 2: New Product Development
Section Introduction
00:48
The Design Process - The Concept Formation Phase
11:08
The Design Process - The Development Phase
08:01
The Design Process - The Production Phase
10:02
Section Summary
00:36
Section 3: Purchasing Specifications and Standardization
Section Introduction
00:45
Purpose and Categories of Specifications
Preview
17:40
Development of Specifications
10:15
Standardization
11:26
Section Summary
01:20
Section 4: Quality Management
Section Introduction
01:10
Quality Management Approaches
12:28
Quality Tools and Methodologies
12:26
Supply Management Considerations
18:26
Section Summary
01:58
Section 5: Outsourcing Activities and Decisions
Section Introduction
01:03
Strategic Issues and Tactical Decisions
09:54
Make-or-Buy Decision - Factors
15:31
Business Process Outsourcing
11:11
Netsourcing and Make-or-Buy Considerations
13:23
Section Summary
01:05
Section 6: The Strategic Sourcing Plan Development
Section Introduction
00:27
Discovering and Evaluating Potential Suppliers
07:34
Selecting, Developing, and Managing Suppliers
12:18
Strategic Issues
13:29
Course Summary
01:26
Section 7: Global Supply Management
Section Introduction
00:57
Global Management Perspectives
07:36
Supply Channels and Direct Suppliers
10:23
Currency and Payment Considerations. Countertrade.
08:46
Section Summary
01:55
Section 8: Total Cost of Ownership
Section Introduction
00:35
Total Cost Components
16:25
TCO, NPV Analysis, and Estimated Costs. TCO Importance.
11:44
Section Summary
01:00
Section 9: Price and Cost Analysis
Section Introduction
01:03
Economic Considerations
14:48
Price and Cost Analysis
10:15
Sources of Cost Data. Direct and Indirect Costs.
12:57
ABC and Target Costing. Arbitrary Price Increases.
10:00
Discounts
06:14
Section Summary
01:06
Section 10: Methods of Compensation
Section Introduction
00:23
Compensation Arrangements - Introduction and General Types
10:22
Specific Types of Compensation Arrangements - Part 1
09:52
Specific Types of Compensation Arrangements - Part 2
10:17
Section Summary
00:52
Section 11: Negotiations
Section Introduction
00:59
Negotiations Basics
08:41
The Process of Negotiations
11:18
Preparation Activities and Techniques
17:40
The Debriefing Process
09:24
Section Summary
00:52
Section 12: Contract Formation and Legal Considerations
Section Introduction
00:31
Dispute Resolution and Basic Legal Considerations
13:24
Special Legal Considerations
09:58
Section Summary
01:04
Section 13: Contract and Relationship Management. Ethics and Social Responsibility.
Section Introduction
00:41
Contract Management and Supplier Performance
17:11
Ethics in Supply Management
08:55
Management Responsibilities
05:46
Section Summary
01:02
Section 14: Achieving and Implementing World-Class Purchasing
Section Introduction
00:55
Purchasing Planning Function
13:05
Organizing, Staffing, and Directing Function
12:18
Controlling and Evaluation
10:26
The Future of Supply Management
09:02
Course Closure
00:34

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Operational Excellence Training, Top Experts in Industrial Management

About Us

Operational Excellence Training is a leading provider of high-quality courses and programs related to Industrial Management, Health and Safety at Work, Transportation, Supply Chain Operations, Manufacturing and Warehouse Management.

Our Expertise

Currently, our team includes 5 instructors with expertise in manufacturing, logistics, operations, and services. All the instructors are international-level experts, having 15+ years of practice and Master’s Degree in their relevant field.

Among other professional recognitions, our instructors are members of APICS (Association for Supply Chain and Operations Management), Certified Supply Chain Professionals (CSCP), Certified Lean Six Sigma Black Belts (Acuity Institute) and Certified in Sales and Operations Planning (S&OP Institute).

Our Mission

Our mission is simple: we aim to provide an interactive and engaging learning experience for professionals all around the globe and help them understand and adapt to the requirements of modern management.

The courses we create are structured in a step-by-step manner and contain up-to-date content and comprehensive resources that get our students to the next level.

Get in touch!

If you're one of our students and you want to ask us a question, you can always post a discussion item to one of our courses. We will be more than happy to answer your queries and respond to your needs.

Ready to start learning?
Take This Course