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Certification in Purchasing and Materials Management

Name: Certification in Purchasing and Materials Management
Rating: 3.7 (200 reviews)

Learn the principles and strategies involved in purchasing and materials management, sourcing & procurement to inventory

Created byHuman and Emotion: CHRMI

Last updated 10/2023

English

Arabic [Auto],English [Auto],

What you'll learn

You will learn the key factors in the purchasing and materials management, importance of purchase materials and its activities. Materials Management.
Learn Materials requirement planning and its characteristics. Basic details of JIT and uses of JIT.
Quality inspection and its objectives Responsibilities of receiving and stores. Stages of quality inspection.
Importance of quality inspection in related to its receiving and incoming materials and parts
Acceptance sampling plans, Its different procedures and its basic information related to the sampling plans
Vendor process capability and material handling
Learn about the standardization, simplification and variety reduction related to the process for creating standardized work, international standard from ISO
Learn all the other details related to standardization, simplification and variety reduction.
Value analysis and engineering, its detailed techniques, definition and the details under this particular chapter.
Appraisal for buying capital equipment, details of make or buy decisions.
Learn about the materials logistics and warehousing management: store layout. and its different related information that will be required for you to study.
This training will be useful if your job involves price determination and negotiations and how to maintain the profitability level, store operational resource
Learn activity based costing and different other analysis.

Course content

13 sections • 145 lectures • 12h 2m total length

Unit 1. Introduction to Purchasing and Materials management0:59
Explore the introduction to purchasing and materials management, covering purchasing activities, the purchasing cycle, classifications of manufacturing materials, risks for managers, and the department's objectives and interdepartmental relationships.
Unit 1.1.Purchasing and materials management (Introduction)3:27
Define purchasing as the process of identifying requirements, selecting suppliers, negotiating price, and handling ordering, receipt, and payment for materials and services.
Unit 1.2. Purchase management4:29
Purchasing management plans and controls acquisitions to meet organizational objectives, balancing internal and external customer needs while applying the five rights of procurement: quality, quantity, price, place, and time.
Unit 1.3. Importance of purchase Management4:34
Purchase management drives productivity and profit by securing materials, negotiating prices, and reducing unit costs, guided by the five principles: right quality, quantity, price, source, and time.
Unit 1.4. Purchasing activities7:42
Learn purchasing activities by contrasting tactical purchasing and strategic sourcing, and follow a stepwise process from identifying needs to evaluating suppliers and negotiating contracts for long term profitability.
Unit 1.4. Continuation of Purchasing activities5:16
Explore strategic sourcing as a structured purchasing process guiding category analysis, spend analysis, supplier selection, negotiations, and implementation to achieve the lowest total cost and a robust supply chain.
Unit 1.5. Types of purchase6:16
Differentiate individual purchase orders for personal or family needs from organizational purchase guided by an eight-stage buying process. Explain how organizational purchasing supports departments, requisitions, price sourcing, and budget control.
Unit 1.6. Purchasing Cycle4:56
Initiate the purchasing cycle by recognizing needs, selecting suppliers, determining prices, preparing and placing a purchase order, and monitoring receiving and payment within the procure-to-pay framework, with managerial accounting involved.
Unit 1.7. Characteristics of a Purchasing manager8:42
Identify the traits required for a purchasing manager, including interpersonal skills, analytical decision making, loyalty to organization, computer literacy, technical skill, ability to make decisions, innovation, and bargaining power.
Unit 1.8. Materials management9:21
Explore materials management as planning, acquiring, storing, moving, and controlling materials to optimize flow, reduce costs, and coordinate procurement, inventory, and supply chain activities.
Unit 1.9. Classification of Manufacturing materials10:30
Explore classifications of manufacturing materials, including raw materials, parts, work in process, packaged materials, MRO supplies, and loose materials, with emphasis on ferrous and non-ferrous metals.
Unit 1.10. Objectives of materials management department8:09
Primary objectives—low procurement price, inventory turnover, continuity of supply, quality, low payroll costs, favorable supplier relations, and records—guide materials management, with secondary aims in new materials, standardization, and product improvement.
Unit 1.10. Continuation of objectives of Materials management department4:59
Explore material processing categories including casting, powder processing, and bulk deformation. Evaluate make-or-buy decisions, outsourcing considerations, standardization, and product improvement to drive uniform practices and customer satisfaction.
Unit 1.11. Relationship between Materials management department and other depart3:55
Explore how the materials management department coordinates with production, engineering, design, quality control, and finance to plan, procure, store, and control materials for timely production at minimum cost.
Unit 1.11. Continuation of relationship between Materials management department4:19
Coordinate planning, sourcing, purchasing, moving, storing, and controlling materials to optimize costs and meet consumer demand, while integrating quality control, testing, and finance to boost efficiency and quality.
Unit 1.12. Risks to be considered by Purchase Materials Manager5:21
Identify and manage common procurement risks for purchase materials managers, including inaccurate internal needs analysis, poor vendor management, price instability, and challenges in digitization and e-procurement adoption.

Unit 2. Materials requirements planning and JIT1:07
Explore materials requirements planning (MRP) definitions, inputs, and outputs, plus an introduction to just in time (JIT), its prerequisites, and applications in unit two.
Unit 2.1. Materials requirements planning (Introduction)3:28
Materials requirement planning (MRP) is a 1970s computerized inventory control system that uses bill of materials, inventory data, and master production schedule to calculate material needs and lead times.
Unit 2.2. Basic characteristics of MRP4:10
Explore basic characteristics of MRP, a company-wide, financially and operationally integrated system that calculates material demand, inventory levels, what-if scenarios, lead times, and plans production, purchases, and delivery.
Unit 2.3. MRP inputs5:08
Master production schedule and inventory records define what to produce, in what quantities, and when, with bills of materials, product structure, demand, lead times, and lot sizing shaping MRP outputs.
Unit 2.4 MRP Outputs2:42
Explain how MRP outputs relate to inputs, detailing planned order releases, purchase orders, and materials plans, alongside inputs like master schedules and bills of materials to ensure material availability.
Unit 2.5. Just in time - Introduction3:51
Discover just in time as a management strategy that aligns supplier orders with production schedules, ensuring stock arrives when needed and improving customer service, flexibility, and equipment utilization.
Unit 2.6. Pre-requisites of JIT Implementation4:04
Identify prerequisites for JIT implementation, including executive commitment, strategic manufacturing plan, and supplier reliability, then align demand stability, communications, and preventive maintenance with plant efficiency and quality control.

Unit 3. Quantity Inspection and how it is related to Materials Management1:04
Explore how quality inspection relates to materials management, covering receiving and stores, stages of receiving and incoming inspections, and checklists for inspecting shipments and incoming materials.
Unit 3.1. Quality inspections and how it is related to Materials Management (Int8:55
Assess quality by regularly checking, measuring, and testing incoming materials and finished goods to ensure conformance and minimize production costs within materials management.
Unit 3.2. Broad objectives of quality inspections7:26
Identify problems, prevent occurrence, and eliminate quality issues to meet customer requirements and protect production quality, while verifying quality levels and informing decisions on product release.
Unit 3.3 Responsibilities of the receiving and the store units.1:31
Explain the responsibilities and services of the receiving and store units: inspecting containers, ensuring good condition and quantity, and distinguishing good from bad lots and prices to maintain quality.
Unit 3.3. Continuation of responsibilities of receiving and the store units2:58
Highlight the receiving and the store units' responsibilities, including collaborating with procurement for deliveries, unloading packages from trucks, inspecting contents, and verifying quantity, quality, and price against orders and invoices.
Unit 3.4. Stages of quality inspections6:44
Explore the three stages of quality inspections—incoming materials, production process, and finished goods—and how pre-production, during production, and pre-shipment checks ensure conformance to specifications and customer requirements.
Unit 3.5. Receiving and incoming quality inspections5:20
Master receiving and incoming quality inspections that validate purchased raw materials against acceptance criteria before stocking, using 100% and sampling inspections, non-destructive testing, and intake monitoring to prevent defects.
Unit 3.6. importance of receiving and incoming quality inspections5:54
Explore receiving and incoming quality inspections, supplier performance monitoring, and raw material verification within a comprehensive inspection control system with mobile and online data collection.
Unit 3.7. Checklists for receiving and incoming materials part3:13
Review the incoming materials checklist and material inspection plan to verify purchase order conformity, identify nonconformities, and ensure proper labeling, protection, and storage through pre-inspection and documentation.
Unit 3.8. Inspecting a shipment2:24
Explore pre-shipment inspection within production planning and quality control, covering visits, quantity verification, sampling, cosmetics and workmanship checks, safety tests, garment tests, and methods like consignment-wise inspection and self certification.
Unit 3.9. Inspection of goods at receiving and in the manufacturing systems4:46
Inspecting goods at receiving and within manufacturing systems ensures standardization, uniformity, and quality, conformance to purchase orders and specifications, guiding corrective actions and reducing costs.
Unit 3.10 . Methods of inspection6:38
Explain the two methods of inspection—100% census and sampling inspection—and compare their cost, thoroughness, and suitability for high-quality parts, including acceptance sampling and detecting nonconforming units before mass production.

Unit 4. Acceptance sampling1:02
Explore acceptance sampling plans, including introduction, brief history, definition, procedure, and rule of acceptance sampling, and examine types, type I and II errors, advantages, and the OC curve.
Unit 4.1. Acceptance sampling plan (Introduction)6:16
Learn how acceptance sampling plans use statistical testing to decide if incoming material batches meet quality standards, guided by sample size, acceptance criteria, and single, double, or sequential plans.
Unit 4.2. Acceptance sampling -Brief history4:00
Discover the brief history of acceptance sampling, popularized by Dodge in World War Two, and its mass production method for judging batch quality.
Unit 4.3. Acceptance sampling -Definition3:28
Define acceptance sampling as inspecting a sample from a lot according to a sampling plan and deciding to accept or reject the batch based on results.
Unit 4.4. Acceptance sampling procedure2:37
Master the acceptance sampling procedure to decide lot acceptability from a random sample, using simple random, systematic, stratified, and cluster sampling. This guides acceptance decisions and lot disposition.
Unit 4.5. Role of acceptance sampling3:36
Discover how acceptance sampling guides incoming inspections, production stages, and final product checks, using sampling plans to decide whether to accept or reject a lot.
Unit 4.6. Acceptance sampling plan6:09
Inspect materials and goods using statistical sampling to accept or reject a lot, and specify sample types, sizes, acceptance criteria, and negotiable terms.
Unit 4.7. Types of acceptance sampling plans9:27
Identify the three main acceptance sampling plans: single, double, and multiple or sequential, and explain how sample size and defectives determine lot acceptance.
Unit 4.8. Type I and Type Ii norms5:43
Explore type I and type II errors in acceptance sampling, including false positives and false negatives, and how alpha 0.05 and power influence lot decisions.
Unit 4.9. Advantages of Acceptance sampling4:03
Use acceptance sampling to inspect incoming materials, identify poor lots, reduce inspection costs, and improve quality and risk management for large production runs, including destructive testing applicability.
Unit 4.10.Disadvantages of Acceptance sampling5:13
Highlight the disadvantages of acceptance sampling, including risk of accepting bad lots or rejecting good ones, need for trained officers, planning and documentation, and sampling frame challenges.
Unit 4.11. The operating Characteristics curve1:28
Explore the operating characteristics curve, plotting percent defective against acceptance probability under sampling plans. Learn how the acceptance quality level and rejectable quality level (AQL and TPD) define decisions.
Unit 4.11. Continuation of The Operating Characteristics curve6:13
Understand how the operating characteristics curve links lot acceptance to defect fraction. It guides sampling plans when 100% inspection isn’t feasible and notes hypergeometric versus binomial considerations.

Unit 5. Acceptance sampling plan0:50
Explore the acceptance sampling plan, its brief history, definitions, procedures, and types of plans, plus type i and ii errors and the operating characteristics curve.
Unit 5.1. Introduction to Process Capability5:31
Explore the introduction to process capability, showing how statistical tools like X-bar and R charts, CP and CPK assess a process against customer specifications in a global supply chain.
Unit 5.2. Concept of Process4:05
Define a process as a unique mix of tools, methods, measurements, and manpower that yields a measurable output, illustrated by manufacturing, and show how operating systems manage execution and resources.
Unit 5.3. Concept of process capacity7:08
Assess process capability to determine long-term performance under statistical control, meeting quality standards and customer specifications, using CP, CPK, P, and PQ to measure variation.
Unit 5.4. Characteristics of Vendor process capability6:20
Analyze vendor process capability by examining output, variability, and uniformity, and how meeting specifications drives quality; recognize how responsive, honest, and transparent vendors form a hard bond and ensure control.
Unit 5.5. Handling the Vendor process capability5:30
Assess and improve vendor process capability to ensure consistent output by evaluating process control, normal distribution, and supplier quality systems (raw materials, incoming and in-process quality control), plus vendor management.
Unit 5.6. Advantages of Vendor process capability5:41
Explore the advantages of vendor process capability, including uniform output and lower defect rates, while enabling product specifications according to customer requirements and reducing sorting, rework, repair, scrap, and waste.
Unit 5.7. Introduction to materials handling6:30
Explore material handling as the movement, protection, storage, and control of materials from origin to distribution, highlighting how properly designed systems reduce costs, improve service, and mitigate risks.
Unit 5.8. Scope of materials handling7:01
explores the scope of materials handling, detailing loading, moving, and unloading of materials with safety and cost as priorities, and highlights principles like planning, unit loads, space utilization, and ergonomics.
Unit 5.9. Material handling4:50
Explore materials handling, the art and science of moving, packing, and storing materials from the initial to the final stage, ensuring right location, condition, quantity, timing, and cost efficiency.
Unit 5.10 Objectives of materials handling3:29
Explore how an integrated and automated material handling system lowers production costs, reduces cycle time and damages, and improves material flow, safety, and customer service.
Unit 5.11. Materials handling costs2:21
Explore how material handling costs include equipment, operating, and unit purchase costs, plus maintenance, electricity, fuel, and labor, with total cost divided by tonnage to determine cost per ton.
Unit 5.11. Continuation of materials handling costs4:43
Explain equipment cost and its components, define operating costs as fixed, variable, and semi-variable, and describe unit purchase cost and cost of goods sold calculated from the income statement.
Unit 5.12.Types of materials handling1:51
Identify the three types of material handling—manual, mechanical, and automated—describing manual lifting by hand, mechanical use of equipment, and automated sensing and robotics.
Unit 5.12. Continuation of Types of materials handling5:27
Explore manual material handling—lifting, lowering, pushing, pulling, carrying, holding, and restraining—alongside mechanical and automated systems (forklifts, conveyors, cranes, robots) to improve safety and material flow.

Unit 6. Standardisation, Simplification and variety reduction1:07
Explore standardization, simplification, and variety reduction to reduce costs, implement standardized work, and apply ISO standards as a winning strategy.
Unit 6.1. Standardisation, Simplification and variety reduction (Introduction)4:09
Discover how standardisation, simplification, and variety reduction reduce product types while preserving adequacy; standardised work ensures consistent size, methods, and quality, with compatibility and interchangeability.
Unit 6.2. Standardisation3:36
Explore how standardization unifies processes to deliver consistent quality and interchangeable parts through consensus among firms, users, interest groups, standards organizations, and government, enabling clear communication and low cost.
Unit 6.3. Standardised (Consistent ) vs. Non-Standardisation(Inconsistent)5:12
Explore standardized versus non standardized processes in purchasing and materials management, examining how consistent, standardized tests and coefficients differ from non standardized ones expressed in raw units.
Unit 6.4. Process for creating Standardised work5:13
Define the scope and what to standardize, assemble a cross-functional team, and study the present state. Identify variations, design the improved state, document the standard, implement, and monitor performance.
Unit 6.5. International standards from ISO12:48
Explore ISO international quality management standards and seven guidelines: customer focus, leadership, engagement, process, continuous improvement, evidence-based decision making, and relationship management, and apply them to purchasing and materials management.
Unit 6.6. Benefits of standardisation4:04
Unlock the benefits of standardization by boosting productivity, reducing operational costs, eliminating guesswork, and improving customer service, while enabling a common platform and faster time to market.
Unit 6.7. Limitations of standardisation4:27
Recognize the limitations of standardization, including loss of uniqueness, reduced responsiveness, and stifled creativity that limit consumer options and producers' ability to provide more values.
Unit 6.8. Standardisation as winning strategy4:07
Explore how the global standardization strategy drives profitability through cost reductions from economies of scale, learning effects, and location economies, while ensuring uniform quality and brand consistency across markets.
Unit 6.9. Simplification5:21
explore simplification as product analysis to eliminate unnecessary varieties and designs, standardize materials and processes, streamline purchasing and production, reduce inventory handling and costs, and boost efficiency.
Unit 6.10.Variety Reduction4:44
Variety reduction cuts the number of products or services offered to simplify the product line and improve marketability, while lowering part and material costs and enabling standardization and route-wise purchasing.

Unit 7. Value analysis and engineering1:10
Explore the history, meaning, and objectives of value analysis and value engineering, compare their differences, and learn techniques, processes, and benefits for delivering value in purchasing and materials management.
Unit 7.1.Value analysis and engineering (Introduction)4:01
Learn value analysis, value engineering, and value management as systematic, function-based approaches to improve product value and reduce costs before fabrication and during evaluation.
Unit 7.2. Value analysis and engineering (A brief history)4:38
Trace the brief history of value analysis and engineering, born at General Electric during World War II, led by Lawrence Miles, with material substitutions saving costs and improving ROI.
Unit 7.3. Meaning of value3:52
Explore the meaning of value in purchasing and materials management, including cost value, exchange value, use value, esteem value, and scrap value, and how they relate to monetary worth.
Unit 7.3. Continuation of meaning of values7:03
Study cost value as the original investment cost, including accruals and manufacturing expenses. Compare use value, exchange value, esteem value, and scrap value to gauge a product’s worth.
Unit 7.4. Meaning of value analysis3:42
Explore value analysis as a systematic, function-based approach to identify and eliminate unnecessary costs while enhancing product value, quality, and customer satisfaction through creative analysis and innovations.
Unit 7.5. Difference between Value Analysis and value Engineering5:22
Value analysis evaluates existing products to reduce costs while maintaining value and quality, whereas value engineering analyzes the design before fabrication to achieve cost reduction and value improvement.
Unit 7.6 Objectives of Value analysis or value engineering5:18
Discover how value analysis and value engineering cut costs without sacrificing quality, improve delivery, simplify products and processes, and boost efficiency through functional analysis and cost evaluation.
Unit 7.7. Techniques of value analysis12:48
Learn techniques of value analysis—eliminate and simplify parts, substitute materials, use standard parts, relax tolerances, and buy if cheap, then make—plus steps: gather information, analyze function, generate ideas, present improvements.
Unit 7.8. Value analysis process5:34
Analyze the value analysis process, driver and activity analysis, and workshop-based techniques to identify costs, functions, and improvements, using matrices, potato charts, and Gantt diagrams.
Unit 7.9. Benefits of Value analysis or Value Engineering8:58
Apply value analysis and value engineering to improve product design and reduce costs without sacrificing quality, by eliminating waste and optimizing function, performance, and cost for more efficient projects.

Unit 8. Appraisal methods for buying capital equipment0:57
Explore appraisal methods for buying capital equipment by analyzing make or buy decisions, factors, risks, and the advantages of choosing make versus buy.
Unit 8.1. Introduction -Make or Buy Decision7:14
Explore the make or buy decision process, including capital equipment appraisal methods and financial models like payback period, npv, and irr, guiding outsourcing versus in‑house production.
Unit 8.2. Factors affecting make or buy decisions6:31
Explore the factors that influence make or buy decisions, including production volume, cost analysis, capacity utilization, and qualitative drivers like customer satisfaction and ethical standards.
Unit 8.3. Importance of make or buy decisions6:59
Explore how make or buy decisions affect profitability by weighing internal production versus outsourcing, considering cost, strategy, risk, supplier quality, lead times, and opportunity cost.
Unit 8.4. Advantages of make or buy strategy7:50
Explore the advantages of the make or buy strategy, including cost factors, quality control, and materials requirement planning, and how in-house production or outsourcing can create competitive advantage.
Unit 8.5. Reasons for make instead of buy5:59
Explore why organizations choose to make rather than buy by weighing desired quality, technical and production advantages, and cost, quality control, intellectual property, and supplier considerations.
Unit 8.6. Risks involved in decisions to make14:50
Explains risks in decisions to make, such as sudden demand changes causing surplus inventory and irreversible, costly outcomes, and the internal and external risks that follow.
Unit 8.7. Reasons for buy instead of make5:46
Identify why firms buy instead of make—lack of in-house expertise, small volumes, and multiple sourcing. Benefits include cost savings, flexibility, quality, and faster market entry via capable suppliers.

Unit 9. Materials logistics and Warehousing Management Store layout1:02
Explore material logistics and warehousing management, focusing on store layout, warehouse operations, and store flow, while examining duties of the store manager and the benefits of a warehouse management system.
Unit 9.1.Materials logistics and Warehousing Management Store layout (Introduct1:23
Unit 9.1. Continuation of materials logistics and Warehousing Management Store l5:26
Explore materials logistics and warehousing management, including incoming goods storage, order picking, and stock transfer within a u-shaped warehouse layout and key warehouse types.
Unit 9.2.Meaning of Warehouse Management1:32
The unit defines warehouse management and explains storage needs for bulk and small purchases in organizations, showing how items required instantly, after some time, or seasonally shape storage.
Unit 9.2. Continuation of Meaning of Warehouse Management4:22
Learn how warehouse management uses storage, material handling, packing, shipping, and barcode systems to meet unpredictable year-round customer needs. Maintain an optimal logistics process to locate and move goods efficiently.
Unit 9.3. Warehouse operations1:58
Receive materials from vendors, scan them, and verify quality and quantity. Assign storage locations and monitor availability, size, and weight capacity to support inventory control.
Unit 9.3.Continuation of Warehouse operations5:29
Master warehouse operations by understanding receiving and storing materials, plus core processes like put away, picking, packing, dispatching, shipping, and kitting to improve productivity and profitability.
Unit 9.4. warehouse administration and management of store floor4:56
Master warehouse administration and store floor management by organizing records, ensuring timely deliveries, and maintaining cleanliness. Learn essential processes: receiving, put away, storage, picking, packing, shipping, labeling, and risk management.
Unit 9.5. Duties and responsibilities of store manager5:35
Explore the duties and responsibilities of a store manager, from day-to-day operations and budgeting to staff recruitment, inventory control, and driving customer satisfaction and profitability.
Unit 9.6. Store maintenance4:42
Unit 9.7. Energy management3:04
Explore proactive energy management strategies that cut lighting and heating costs, optimize consumption, and reduce carbon emissions through data-driven tracking, sourcing, and energy-saving technologies.
Unit 9.8.Benefits of Warehousing8:25
Warehousing safeguards seasonal and large-scale productions by centralized storage, automated facilities, and controlled conditions, enabling timely supply, price stabilization, enhanced inventory management, and better order processing.
Unit 9.8. Continuation of benefits of Warehousing5:58
Ensure quick supply by locating warehouses near consumption, and sustain continuous production with a steady flow of raw materials for reliable picking and year-round availability.
Unit 9.9.Warehouse Management System1:23
Explore how warehouse management systems drive competitive advantage through better customer service, lead times, and costs, and compare standard versus tailored WMS with proven solutions and shorter lead times.
Unit 9.9. Continuation of Warehouse Management system2:46
The warehouse management system combines software and processes to control daily operations from receiving to shipping, providing inventory visibility and supporting order management, real-time inventory, and labor management.
Unit 9.10.Benefits of Warehouse management System6:39
Automate warehouse operations with a warehouse management system to reduce manpower and paperwork, enable accurate inventory tracking, faster picking and packing, and support quick decisions via database management.

Unit 10. Price determination and negotiation0:57
Explore price determination and negotiation in purchasing and materials management, covering pricing objectives, factors influencing pricing, pricing strategies, negotiation concepts, types, processes, essential negotiating skills, and common obstacles.
Unit 10.1. Price Determination and Negotiation (Introduction)7:40
Explore how buyers and sellers determine and negotiate price by balancing costs, perceived value, and long-term relationships in purchasing and materials management.
Unit 10.2.Objectives of pricing2:29
Pricing objectives define an organization’s pricing goals, guiding the pricing process to balance survival, cash flow and liquidity, short- and long-run profit, market share, return on investment, and brand image.
Unit 10.2. Continuation of Objectives of pricing4:11
Define pricing objectives based on business goals to guide pricing strategies, including cost-plus pricing, value pricing, penetration pricing, price skimming, bundle pricing, premium pricing, and competitive pricing.
Unit 10.3.Factors influencing pricing8:49
Explore factors influencing pricing, including market demand and raw material costs, and differentiate internal from external influences such as competition, economic conditions, and government regulations.
Unit10.3. Continuation of factors influencing pricing...25:11
Explore the cost of production and its impact on pricing by examining factors like technology, manpower, overhead, and raw materials, and learn how total product cost shapes profit margins.
Unit 10.3. Continuation of factors influencing pricing...5:49
Explore how branding strategy, economic conditions, and government regulations shape pricing decisions. See how brand value, macroeconomic variables, and regulatory policy influence pricing outcomes.
Unit 10.3. Continuation of Factors influencing pricing3:22
Analyze how competition shapes pricing decisions, including pricing against rivals and premium pricing for high quality, while considering branding, economic conditions, and regulatory factors.
Unit 10.3. Continuation of factors influencing pricing (last part)5:25
Explore how price fixed by competitors and the product life cycle shape pricing strategies, including competitor-based pricing and skimming at introduction to recover development costs.
Unit 10.4. Types of pricing strategies7:11
Learn how organizations select pricing strategies—skimming, penetration, bundle, product-line, markup, psychological, and marginal-cost pricing—based on costs, demand, competition, and profit objectives.
Unit 10.4.Continuation of types of pricing strategies 18:22
Penetration pricing sets a low initial price to gain market share, then increases; bundle pricing offers multiple products together at a discount; product line pricing assigns prices across related products.
Unit 10.4.Continuation of types of pricing strategies 28:45
Explore markup pricing, cost plus pricing, psychological pricing, and marginal cost pricing, including direct material, direct labor, and overhead costs, and how pricing affects demand and purchases.
Unit 10.4.Continuation of types of pricing strategies 33:17
Learn how charging what the traffic will bear uses demand-based pricing, guided by ability to pay and customers' willingness to pay, with examples from professionals, monopolists, and railways in India.
Unit 10.5. Negotiation1:27
Define negotiation as a trading deliberation rooted in civil law that leads to an agreement. Navigate the start-to-end process where parties with predetermined goals may modify positions to reach consensus.
Unit 10.5. Continuation of Negotiation4:02
Learn negotiation as a strategic, multi-stage process—from preparations and planning to definitions of ground rules, clarifications, bargaining, and implementation—anchored in interests, relationships, and alternatives.
Unit 10.6.Meaning of Negotiations3:24
Unit 10.7. Examples of Negotiation4:07
Explore examples of negotiation across buyers and suppliers, job offers, union contracts, international talks, hostage releases, and auctions, focusing on price terms, salary, contract conditions, and budget allocations.
Unit 10 .8. Types of negotiations10:00
Identify two basic negotiation types: win-win (integrative) and zero-sum (distributive), and their approaches, including problem solving, information sharing, cooperation, and mutually beneficial outcomes.
Unit 10.9. The process of negotiations5:14
Follow a structured negotiation process to achieve a desirable, win-win outcome and a mutually beneficial agreement, with stages of preparation, information exchange, bargaining, and commitment.
Unit 10.10. Skills for successful negotiating6:41
Explore essential negotiation skills, including effective communication, active listening, emotional intelligence, planning, leadership, problem solving, and strategic decision making to reach mutually acceptable agreements.
Unit 10.11. Obstacles to Negotiation5:31
Identify obstacles to negotiation, including limited knowledge, poor presentations, and lack of communication skills, and learn to overcome them through clear, active communication and empathetic, trust-building dialogue.

Requirements

Basic Management Knowledge
Basic Knowledge of Operations
You should have an interest in purchase management and material management
An interest in quality inspection and how it gets followed.

Description

Welcome to the comprehensive online course on Purchasing and Materials Management! In today's global business environment, effective procurement and materials management are essential for organisations to thrive and remain competitive. This course has been meticulously designed to equip you with the knowledge and skills needed to excel in this critical field.

This comprehensive course provides an in-depth understanding of the principles and strategies involved in purchasing and materials management. From sourcing and procurement to inventory control and supplier management, you will learn the essential skills needed to successfully manage the purchasing and materials function in any organization.

Key Highlights:

Master the strategic sourcing process
Optimize inventory levels and control costs
Develop effective supplier relationship management
Implement best practices in procurement
Apply industry-standard techniques in materials management

Learning Objective:

Learning Outcome 1
Understand the fundamentals of purchasing and materials management, including key concepts, strategies, and principles.
Learning Outcome 2
Learn how to analyze suppliers, evaluate their capabilities, negotiate contracts, and develop strategic relationships.
Learning Outcome 3
Gain insights into inventory management techniques, demand forecasting, and JIT (Just-in-Time) inventory systems.
Learning Outcome 4
Explore cost reduction strategies, value analysis, and total cost of ownership (TCO) concepts to improve purchasing efficiency.
Learning Outcome 5
Discover the role of technology and information systems in streamlining purchasing and materials management processes.

Description

Take the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your purchasing and materials management capabilities, increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.

Course Format:

This online course consists of a combination of video lectures, reading materials, quizzes, assignments, and discussions. You will have access to a dedicated learning platform where you can interact with instructors and fellow participants. Additionally, real-world case studies and practical exercises will help you apply your knowledge to real-life scenarios.

Who Should Enroll?

· Procurement professionals seeking to enhance their skills and advance their careers

· Supply chain and logistics managers

· Small business owners and entrepreneurs looking to optimize their procurement processes

· Students and recent graduates interested in pursuing a career in procurement and materials management

By the end of this course, you will have the expertise needed to excel in the field of Purchasing and Materials Management, whether you are a seasoned professional or just starting your career. Join us on this educational journey and gain a competitive edge in the dynamic world of procurement. Enroll now and take the first step towards becoming a procurement and materials management expert!

With this course as your guide, you learn how to:

All the basic functions and skills required for purchasing management skills.
Transform purchasing and materials management knowledge and how information system can be used for managing retail marketing stores in an efficient way for the current retail business climate.
Get access to recommended templates and formats for the detail’s information related to retail management.
Learn useful case studies, understanding the customers, retail strategy, , enhancing decision making related to store site selections and store operations and profitability with useful forms and frameworks
Invest in yourself today and reap the benefits for years to come

The Frameworks of the Course

Purchasing and materials management will help you to understand and how it should get maintained and managed accordingly to the functions in related to the acceptance of sampling plan. This video will also help to understand the details related to vendor process capabilities and materials handling, Standardisation, simplification and variety reduction, its various challenges related to the value analysis and engineering that will help to understand the appraisal methods for buying capital equipment. Price Determination and the negotiations, objectives of the planning and its related information to the negotiations including processes and its skills for maintaining successful negotiating. Vendor rating, selection and development and its process. Public purchasing and international purchasing. Law of agency and the law of sale of goods.

The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your Purchasing and materials management in details.

In the first part of the course, you’ll learn the most Purchasing and materials management, Its relation to introduction to purchase and materials management. Materials requirement planning and JIT. Quality Inspection and how it is related to the materials management. Acceptance sampling plan.

In the middle part of the course, you’ll learn how to develop a knowledge of vendor process capabilities and materials handling. Standardisation, simplification and variety reduction. Value analysis and engineering. You will get a knowledge on appraisal methods for buying capital equipment and Material Logistics and warehouse management.

In the final part of the course, you’ll develop the price determination and negotiation vendor rating, selection and development. Public purchasing and tendering & International purchasing. . You will get full support and all your quarries would be answered guaranteed within 48 hours.

Course Content:

Part 1

Introduction and Study Plan

· Introduction and know your Instructor

· Study Plan and Structure of the Course

1. Introduction to Purchasing and Materials Management.

1.1. Introduction

1.2. Purchasing Management

1.3. Important of Purchase Management.

1.4. Purchasing Activities.

1.5. Types of purchase

1.6. Purchasing Cycle

1.7. Characteristics of a Purchasing Manager.

1.8. Materials Management.

1.9. Classification of manufacturing materials.

1.10. Objectives of the materials management Department.

1.11. Relationship between Materials management department and other departments.

1.12. Risks to be considered by Purchase Material Manager.

2. Material Requirements planning and JIT.

2.1. Introduction- Materials Requirement Planning.

2.2. Basic Characteristics of MRP.

2.3. MRP-Inputs

2.4. MRP-Outputs.

2.5. JIT-Introduction

2.6. Pre-requisites of JIT Implementations.

3. Quality Inspection and How it is related to the Materials Management.

3.1. Introduction

3.2. Broad Objectives of the Quality inspection.

3.3. Responsibilities of the Receiving and stores.

3.4. Stages of Quality Inspection.

3.5. Receiving and Incoming Quality Inspection.

3.6. Importance of receiving and Incoming quality inspection.

3.7. Check-Lists for receiving and Incoming Materials and Parts.

3.8. Inspecting a Shipment.

3.9. Inspection of Goods at receiving and in Manufacturing System.

3.10. Methods of Inspection.

4. Acceptance sampling plans.

4.1. Introduction

4.2. Acceptance Sampling- Brief History

4.3. Acceptance Sampling – Definition.

4.4. Acceptance Sampling Procedure.

4.5. Role of Acceptance Sampling.

4.6. Acceptance Sampling plan.

4.7. Types of Acceptance sampling plans.

4.8. Type I and Type II Errors.

4.9. Advantages of Acceptance sampling.

4.10. Disadvantages of Acceptance Sampling.

4.11. The Operating Characteristics (OC) Curve.

5. Vendor process capability and Material Handling

5.1. Introduction to process capability.

5.2. Concept of Process.

5.3. Concept of Process capability.

5.4. Handling the vendor process capability.

5.5. Advantages of Vendor Process capability.

5.6. Introduction to Materials Handling.

5.7. Scope of Materials Handling.

5.8. Material- Handling- Definition.

5.9. Objectives of Materials Handling.

5.10. Material Handling costs.

5.11. Types of Material Handling.

6. Standardisation, Simplification and Variety Reduction.

6.1. Introduction

6.2. Standardisation

6.3. Standardised (Consistent Process) versus Non- Standardised (Inconsistent Process).

6.4. Process for creating Standardised work.

6.5. International Standards from ISO.

6.6. Benefits of Standardisation.

6.7. Limitations of Standardisation

6.8. Standardisation as Winning Strategy.

6.9. Simplification

6.10. Variety Reduction.

7. Value Analysis and Engineering.

7.1. Introduction

7.2. A brief History.

7.3. Meaning of Value.

7.4. Meaning of Value analysis.

7.5. Difference between Value Analysis and Value Engineering.

7.6. Objectives of Value Analysis/Value Engineering.

7.7. Techniques of Value Analysis.

7.8. Value Analysis Process.

7.9. Benefits of Value Analysis/Value Engineering.

8. Appraisal methods for Buying capital equipment.

8.1.Introduction-Make or Buy Decisions.

8.2.Factors affecting Make or Buy Decisions.

8.3.Importance of Make or Buy Decisions.

8.4.Advantages of Make or Buy Strategy.

8.5.Reasons for Make Instead of Buy.

8.6.Risks involved in decisions “to make”

8.7.Reasons for buy instead of make.

9. Materials Logistics and Warehousing Management- Store Layout.

9.1. Introduction

9.2. Meaning of Warehouse Management.

9.3. Warehouse Operations.

9.4. Warehouse Administration and Management of Store Floor.

9.5. Duties and Responsibilities of a store manager.

9.6. Store Maintenance.

9.7. Energy Management.

9.8. Benefits of Warehousing.

9.9. Warehouse Management System.

9.10. Benefits of Warehouse Management System.

Part 2

10. Price Definition and Negotiation

10.1. Introduction.

10.2. Objectives of Pricing.

10.3. Factors influencing Pricing.

10.4. Types of Pricing Strategies.

10.5. Negotiation- Introduction.

10.6. Meaning of Negotiation.

10.7. Examples of Negotiation.

10.8. Types of Negotiations.

10.9. The process of Negotiation.

10.10. Skills for Successful Negotiating.

10.11. Obstacles to Negotiation.

11. Vendor rating, Selection and Development.

11.1. Introduction.

11.2. Vendor/Supplier Evaluation

11.3. Need for measuring Supplier Performance.

11.4. Categories of Suppliers.

11.5. Supplier evaluation and Selection process.

12. Public Purchasing and Tendering, & International Purchasing.

12.1. Introduction.

12.2. The Indian Contract act, 1872

12.3. Law of Agency

12.4. Law of Sale of Goods Act, 1930.

Part 3

13. Assignments

Who this course is for:

Professionals with purchasing and materials management responsibilities, acceptance sampling plan. Quality inspection and responsibilities related to it.
New professionals who are looking to see them successful in materials handling.
Existing materials management professional who is looking to get more engagement and innovation from their teams and organizations

Certification in Purchasing and Materials Management

What you'll learn

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Course content

1. Introduction to Purchasing and Materials Management.16 lectures • 1hr 33min

2. Material Requirements planning and JIT.7 lectures • 25min

3. Quality Inspection and How it is related to the Materials Management.12 lectures • 57min

4. Acceptance sampling plans13 lectures • 59min

5. Vendor process capability and Material Handling15 lectures • 1hr 11min

6. Standardisation, Simplification and Variety Reduction.11 lectures • 55min

7. Value Analysis and Engineering.11 lectures • 1hr 2min

8. Appraisal methods for Buying capital equipment.8 lectures • 56min

9. Materials Logistics and Warehousing Management- Store Layout.16 lectures • 1hr 5min

t 10. Price Definition and Negotiation21 lectures • 1hr 52min

Requirements

Description

Who this course is for: