Procurement and Purchasing Fundamentals
Purchasing and Procurement Fundamentals provides an overview of the essential concepts and processes involved in acquiring goods and services for an organization. This course includes the following topics: sourcing, vendor selection, negotiation, contract management, and supply chain management. This course is valuable for professionals directly involved in procurement or supply chain management, but it also brings value to those who should have a basic understanding of the fundamentals of acquiring resources for an organization. This course will also explore the best practices, legal considerations, and role of communication in modern procurement.
Learning Objectives
- Define key purchasing and procurement concepts.
- Understand the role of purchasing in organizational success.
- Identify legal frameworks and regulations governing procurement.
- Develop a procurement strategy aligned with organizational goals.
- Understand the importance of risk management in procurement.
- Analyze market trends and their impact on procurement planning.
- Understand the fundamentals of contract negotiation.
- Develop skills in cost analysis and pricing strategies.
- Learn negotiation techniques for successful procurement outcomes.
Outline of Modules and Course Content
- Unit 1 - Purchasing Essentials
- Unit 2 - Management Essentials
- Unit 3 - Fundamentals of Communication
- Unit 4 - Aspects of Contracts
- Unit 5 - Careers in Purchasing and Procurement
$2,399
Completion Time:
270 Hours
Access to course:
6 Months
U of A 10% discount available - view details