This course covers all the different activities that are needed for management of purchasing. Procurement is an integral part of all organizations. It is one of the key processes that help a company control its costs. It is critical that anyone involved in carrying out purchase functions be fully aware of the steps related to procurement. The first section provides an overview of the source to pay process, for an overall understanding. The next section offers a detailed look at the purchase requisition process. This takes the learner through the cycle of identifying needs, complying with budgets, providing specifications, resulting in the purchase requisition process. Developing proper specifications helps the purchase function improve the quality of the final purchase.

The third section, addresses how suppliers are to be selected. It looks at different elements including supplier capabilities, qualification and assessment, and price estimation. It also covers approaches for different types of purchase management, namely, direct material, capital goods and services. The section concludes with descriptions of negotiation and finally selection of the supplier. The last section, details the importance of the purchase order, especially as a legal contract. It provides a close look at the elements of the purchase order and the various types of purchase orders.