Fundamentals of Purchasing for the New Buyer




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Who should attend

This programme is designed to newcomers who want to learn every facet of their job responsibilities – as well as veteran buyers who want to update their skills.

About the course

Increase your company's savings through better purchasing techniques.

This fundamentals programme is taught by leaders in the field who will walk through every step of the purchasing management process, including negotiating and vendor and materials management. Find innovative ways to manage your suppliers so they deliver quality products and services on time and within your budget…learn how eProcurement can help you save money and exploit sales opportunities…and recognize the impact you have on the financial side of your business.

How will you benefit?

After taking this programme, you will have develop further your procurement skills and competencies and be able to:

  • Understand today's procurement strategies and techniques
  • Identify the core expertise, process knowledge, and interpersonal skills necessary for success as a 21st-century buyer
  • Discover the criteria for successful supplier selection
  • Manage your supplier relationships to reduce costs, improve quality, and enhance performance
  • Understand legal and ethical requirements and issues
  • Learn negotiation techniques for a global purchasing environment

During the programme you will:

  • Network and learn from a diverse group of peers from different industries and countries
  • Develop a personal action plan to implement back at work
  • Learn and practice finance skills using real life examples over 3 interactive days

What will you learn and practice?

The Fundamentals of Purchasing for the New Buyer is a 3-days hands-on training programme, highly interactive with exercises and role plays. The programme will be led by an experienced facilitator with former procurement management experience in international companies.

Learning Objectives

  • Develop More Effective Relationships to Source, Qualify, Solicit, and Assess Your Supplier Base
  • Increase the Buyer’s Contribution to the Organization’s Bottom Line and Enhance Customer Satisfaction
  • Use Methods and Techniques to Enhance Material and Product Flow
  • Recognize the Ethical and Legal Practices Involved in Purchasing
  • Develop a Purchasing Negotiation Strategy
  • Assess Risk and Competitive Advantage

Programme Outline:

The Buyer’s Role in Today’s Purchasing Organization

  • Explain How Purchasing Adds Value
  • Define the Supply Chain and the Buyer’s Role in Purchasing and Supply Management
  • Describe the Purchasing Cycle
  • Discuss the Importance of Cross-Functional Teams and Purchasing

Managing the Supplier Base and Relationships

  • Obtain Sufficient Purchase Description or Specification Information from Internal Customers
  • Rate Aspects of a Supplier’s Capabilities
  • Analyze a Financial Statement from a Hypothetical Supplier
  • Define How Acceptable Sources of Supply are Found in the Marketplace
  • Identify Key Principles of Soliciting, Qualifying, and Pre-Selecting Suppliers
  • Examine Key Aspects Associated with Supplier Performance

Managing Effective Procurement Decisions: Applying Price, Cost Value

  • Assess Competitive Market Pricing and the Application of Discounts
  • Analyze Costs to Calculate a Target Cost to Negotiate More Effectively with Suppliers
  • Define an Internal Cost Estimate and a Supplier’s Cost Breakdown Structure
  • Explain Learning Curves, Life Cycle Costing, and Value Analysis
  • Define Leasing, Renting, and Outsourcing
  • Describe How Identifying Total Cost of Ownership Fosters Better Buying Decisions

Tools for Enhancing Material and Product Flow

  • Explain How ABC Analysis Is Used to Make Informed Purchasing Decisions
  • Summarize the Techniques Used to Make Informed Decisions on Inventory
  • Describe How Inbound Freight Control Is Used to Improve the Total Value Provided to a Firm by a Supplier
  • Describe the Most Common INCOTERMS and Their Meaning for International Sourcing
  • Discuss How Global Sourcing Requires Additional Knowledge to Understand Supplier Selection, Payment, and Risk Implications

Understanding Specialized Purchasing Instruments and Contracting Methods

  • Identify the Basic Parts of a Contract and a Contract Planning Checklist
  • Differentiate between the Types of Purchasing Contracts and Agreements
  • Discuss Usage of Purchasing/Procurement Credit Cards and Appropriate Policies for Their Implementation
  • Describe the Service Contracting Process and Guidelines for Service Contract Supplier Selection, Agreement Provisions, and Administration
  • Apply E-Procurement Principles to the Purchasing Cycle

Professional Practices

  • Explain the Difference between Ethical and Legal Purchasing Practices
  • Describe 12 Questionable Purchasing Practices
  • Discuss the Legal Framework That Affects Purchasing
  • Explain Elements of a Breach of Contract That Remedies the Breach
  • Describe Three Kinds of Warranties—Stautory, Implied and Express
  • Discuss Key Points of the Convention for International Sales of Goods
  • Recognize Key Issues about Contract Law and How Contracts are Formed
  • Determine the Importance of the Uniform Commercial Code

Negotiating Skills for the Buyer

  • Define the Nature and Scope of Negotiations in Purchasing
  • Differentiate between Strategy and Tactics in Negotiations
  • Define Win-Win, Objective Setting, Deadline, and Authority Level
  • List the Crucial Elements of Negotiation
  • Prepare and Plan for Negotiations
  • Apply Some Negotiation Strategies, Tactics, and Counter Offers

Fundamentals of Purchasing for the New Buyer at MCE

From  EUR 2 950$3,550
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Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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