Course Details
Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism
Whether you are new to the profession or new in your role in supply management, start off on the right foot with this engaging course. This essential purchasing course will provide foundational knowledge of all aspects of supply management and gives you the tools to implement to be successful in the workplace. This supply management course starts with key procurement and supply chain concepts and moves onto supply chain issues that are relevant today. Throughout this two-day training, you’ll explore innovative techniques and effective tools to position yourself as a valuable asset to your organization and its supply management team. Gain the skills you need to effectively perform your role and prepare you for long-term success.
Member Price: $1,395.00
VIRTUAL CLASS
Date
Feb 11-12, 2025
Location
Additional Information
Description
What You Will Learn:
- Key supply management terms and definitions
- The key contributions supply management makes to corporate strategy and value creation
- How to evaluate and design supply management processes
- How to use technology to enhance procurement’s contribution
- Sourcing strategies for various categories, sourcing analysis and commodity and category management
- A variety of supplier management skills and techniques
- Key negotiating elements and tools for successful negotiations
- Steps in cost management, cost analysis and price/cost issues
- Ethics and the legal aspects of supply management.
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Course Overview & Goals:
- Developments in purchasing and supply management to include: Including key terms and definitions; Purchasing's contribution to corporate strategy and value creation; Sustainability and social responsibility; The essential role of purchasing and supply; How to identify objectives for effectiveness
- Perspectives on evaluating and redesigning the supply management process to include: Streamlining tasks to focus on value-add activities; Using technology tools to enhance procurement’s contribution; Tools for increasing acquisition process efficiency and value; Managing small-dollar buys; Risk management
- Strategic sourcing and sourcing analysis methods to include: Sourcing strategies for different categories of purchases; Sourcing analysis methods; Commodity and category management
- Supplier management skills, including: When, where and how to use RFIs, RFQs, RFPs and competitive bidding; Approaches to supplier identification, evaluation, selection and performance measurement; Managing supplier relations; Implications for quality and cost management
- Key elements of negotiation — The what, when and why of negotiations; Negotiation philosophies and styles; Preparing for and conducting negotiations; Strategy development and tactics
- Essential cost management techniques to include: Steps in price and cost analysis; Identifying and estimating cost elements; Basic cost analysis applications; Market and pricing issues; Process mapping to locate cost drivers
- Ethical and legal aspects of supply management, including: Ethics and ethical behavior defined; Contract law and the Uniform Commercial Code (UCC); Patents and trademarks; Law of agency; Basic types of contracts; Elements of contract formation
Who Should Attend:This supply management/purchasing training is a “must attend” for new procurement and supply management professionals. More experienced professionals who want to refresh and update their skills will also find value in this course. Finally, any company employee who interacts with supply management and suppliers will also gain from the knowledge learned in this course.
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.