Describe the basic procedures and purchasing techniques behind supply chain management
Define purchasing objectives, calculate profit multiplier, analyze cost-pricing ratios and value analysis for profitable results
Recognize the impact of organizational considerations, socioeconomic forces, and ethical responsibilities with purchasing practices
Evaluate alternatives, identify sourcing, shipping, inventory cost saving strategies, and apply control mechanisms
Identify negotiation targets and apply tactics
Identify quality requirements, specifications, and shipping requirements
About this course:
This course covers the domain of purchasing and the flow of purchasing tasks—from determining the requirements for goods and services through their acceptance. Major topics include supply chain management, purchasing as a socioeconomic force, purchasing and profit, profit multiplier, purchasing objectives, and the purchasing process. The practical use of all basic procedures and purchasing techniques is explained, including purchasing services, organizational considerations and alternative, sourcing, quantity, and inventory planning and control. The course also covers price determination, negotiation and cost-price analysis, capital acquisitions, value analysis, quality requirements, specifications, inventory cost savings, shipping, and purchasing with ethical and social responsibility.