Procurement (Sourcing & Purchasing)

Published 8/2023
Created by e3 Business
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Genre: eLearning | Language: English | Duration: 25 Lectures ( 2h 45m ) | Size: 3 GB

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.

Who this course is for
Students
Managers
Everyone who works in the field of procurement

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