Procurement (Sourcing & Purchasing)

The Procurement course is designed to provide participants with a comprehensive understanding of the principles

What you'll learn

Objective of Procurement

Products types in Procurement

Procurement Vs. Purchasing

Procurement decisions

Requirements

No experience needed. You will learn everything you need to know

Description

Procurement is the process of acquiring goods, services, or works from external suppliers to meet the needs of an organization. It is a critical function within supply chain management and involves various activities, including identifying requirements, sourcing suppliers, negotiating contracts, and managing supplier relationships. Effective procurement practices can contribute to cost savings, improved efficiency, and overall business success.Procurement plays a vital role in ensuring that organizations obtain the necessary goods, services, or works to meet their operational requirements.It involves identifying the right suppliers, negotiating favorable terms, and managing the procurement process from start to finish.Procurement aligns organizational needs with external market capabilities to achieve value for money and meet quality standards.The Procurement (Sourcing & Purchasing) course is designed to provide participants with a comprehensive understanding of the principles, strategies, and best practices in procurement. The course will cover the entire procurement process, from sourcing suppliers to negotiating contracts and managing supplier relationships. Participants will learn how to optimize procurement activities to achieve cost savings, improve efficiency, and enhance supply chain performance.And you will be able to:Identifying Requirements: The procurement process begins by understanding and documenting the organization's needs and requirements for goods or services.Supplier Sourcing: Procurement involves identifying and evaluating potential suppliers who can meet the organization's requirements.Supplier Selection: The organization assesses suppliers based on criteria such as price, quality, delivery capabilities, financial stability, and ethical practices.Negotiation and Contracting: Negotiations take place to establish mutually beneficial agreements with selected suppliers, and contracts are created to formalize the terms and conditions.

Overview

Section 1: Procurement Basics

Lecture 1 Introduction

Lecture 2 Objective of Procurement ( Part 1 )

Lecture 3 Objective of Procurement ( Part 2 )

Lecture 4 Products types in Procurement

Lecture 5 Procurement Vs. Purchasing ( Part1 )

Lecture 6 Procurement Vs. Purchasing ( Part 2 )

Lecture 7 Procurement Vs. Purchasing ( Part 3 )

Lecture 8 Procurement Vs. Purchasing ( Part 4 )

Section 2: Strategic Sourcing

Lecture 9 Procurement decisions ( Part 1 )

Lecture 10 Procurement decisions ( Part 2 )

Lecture 11 Procurement process overview

Lecture 12 Leverage effect of Procurement

Lecture 13 what is the difference between Vendor & a Supplier

Lecture 14 key sourcing ( Part 1 )

Lecture 15 key sourcing ( Part 2 )

Lecture 16 key sourcing ( Part 3 )

Section 3: Supplier Scoring & Assessment

Lecture 17 Supplier Selection ( Part 1 )

Lecture 18 Supplier Selection ( Part 2 )

Lecture 19 Design Collaboration

Lecture 20 The Purchasing Process

Lecture 21 Product categorization

Lecture 22 Monitoring & controlling purchasing

Lecture 23 Sourcing Planning and Analysis

Lecture 24 Procurement Negotiation tips ( part 1 )

Lecture 25 Procurement Negotiation tips ( Part 2 )

Students,Managers,Everyone who works in the field of procurement