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Procurement Basics

4.4 Filled star Filled star Filled star Filled star Empty star
Based on 47 ratings
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Naomi Soko

This course covers the procurement life cycle to help you get your foot in the door for a career in procurement or to supplement your current knowledge and give you a little more confidence in procurement.

It starts with the basic procurement life cycle then we systematically go through each stage of the cycle. The procurement life cycle covers the following titles:

Business Need

Procurement Strategy

Sourcing

Contract Award

Contract Management

We’ll be going over

· Understanding the business need

Read more

This course covers the procurement life cycle to help you get your foot in the door for a career in procurement or to supplement your current knowledge and give you a little more confidence in procurement.

It starts with the basic procurement life cycle then we systematically go through each stage of the cycle. The procurement life cycle covers the following titles:

Business Need

Procurement Strategy

Sourcing

Contract Award

Contract Management

We’ll be going over

· Understanding the business need

We’ll go over the need to be clear on the outcomes of the tender and be confident that outsourcing is the best option for the organisation. we’ll also be completing the procurement brief template

· Developing the procurement strategy

Here we go over the project timeline, options, budgets risk log and identifying key stakeholders

· Sourcing

Here we explore tendering via ITT / RFQ. We look at contract terms and conditions, a pricing schedule, compliance checks and risk logs

· Contract Award

In this phase we go over, due diligence checks, contract sign off and handovers if there is an incumbent supplier

· Contract Management

In this final phase we cover contract management and ensure contract outputs are delivered.

Keep in mind that the process is cyclical so if the contract expires and a new service is required, the process starts up again.

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What's inside

Learning objectives

  • How to develop a procurement brief
  • How to develop a procurement strategy
  • How to source using tendering documents (itt)
  • Contract award and contract management

Syllabus

Introduction

Governments and businesses across the world spend billions on buying, goods services via outsourced contracts and this course gives you an insight into how to procure goods and services using international best practice  standards. This will ensure you get value for money for your business and ensure that you follow procurement best practice.

Read more

Welcome to the course and meet your award winning instructor.

Requirement Brief

In this lecture we learn about the procurement strategy .

The key activities of this stage are to:

  • Be clear on business need

  • Understand the desired business outcomes

  • Complete the procurement strategy / business case template

  • Assemble a cross-disciplinary stakeholder team

  • Agree stakeholders

  • Be clear on stakeholder responsibilities

In this lecture we explore ways in which organisations outsource contracts. We discuss Open and Closed tenders as well as examining Invitation to Tender (ITT) templates.

We look at the following sections of the ITT document:

·About the buyer

·Specification

·Evaluation Criteria

·Scoring Matrix and methodology

·Terms of Offer

·Terms and Conditions of Contract

·Form of Offer

·Tender Response document

In this lecture we examine the pricing schedule for the ITT .

In this lecture I share with you a useful website to obtain best practice contract terms and conditions. Please note that independent legal advice is recommended when issuing contracts.

In this lecture we will be looking at the Questions and Answers log. This document is used to record any clarification questions received from bidders concerning the tender.

In this lecture we discuss risks that may affect your tender.

In this lecture we consider compliance checks following the close of the tender

In this lecture we learn about the Tender Evaluation Panel and their roles and responsibilities.

In this section we walk through a quality and price evaluation scenario.

Test your new knowledge with this quiz

What are the grounds for disqualifying  Supplier B?

In this lecture we cover due diligence checks and steps required to award a contract to a successful supplier.

In this lecture we cover contract management best practice.

Many thanks for taking the course, i'm sure you've found it very useful. See you again soon.

In this lecture I share a simple template for contract variations. This is an extract from my Transformation and Change for Buyers course here on Udemy.

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Provides an overview of the procurement lifecycle, which is helpful for those looking to enter the field or supplement their existing knowledge
Explores the development of a procurement strategy, which includes project timelines, risk logs, and stakeholder identification, all of which are useful in project management
Examines tendering processes via ITT/RFQ, contract terms, pricing schedules, and compliance checks, which are essential for effective sourcing and vendor management
Covers contract management, ensuring contract outputs are delivered, which is crucial for maintaining successful supplier relationships and achieving business objectives
Includes a lecture that shares a website to obtain contract terms and conditions, but advises independent legal advice, which may incur additional costs
Uses ITT templates to teach sourcing, which may not reflect current trends in procurement that emphasize agile and dynamic sourcing strategies

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Reviews summary

Practical overview of procurement lifecycle

According to learners, this course provides a solid introduction to the procurement process, covering the full procurement life cycle from beginning to end. Many appreciate the inclusion of useful templates and documents discussed throughout the lectures. Students find it a good starting point for understanding the basics of procurement, making it particularly suitable for those new to the field or looking to gain foundational knowledge. However, some note that while it covers the breadth of the topic, the depth in certain areas might be limited, and more practical exercises or case studies would enhance the learning experience.
Good for getting your foot in the door.
"This course is a great starting point if you're new to procurement."
"It effectively covers the basics needed to understand the field."
"Lives up to its 'Basics' title, providing a clear foundation."
Offers practical document templates.
"The templates for documents like the ITT and risk log were really useful."
"Appreciated the inclusion and discussion of real procurement document examples."
"Found the procurement brief and strategy templates particularly valuable."
Explores all stages of procurement.
"The course walked me through the entire procurement cycle, which was very helpful."
"I liked how it covered everything from identifying the business need to contract management."
"Provides a good overview of the whole procurement process."
Could use more detail or exercises.
"I wished there were more hands-on exercises or case studies to practice the concepts."
"Some sections, like contract terms or advanced sourcing, felt a bit brief."
"The course is introductory; those seeking deep expertise may need more."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Procurement Basics with these activities:
Review Contract Law Basics
Reviewing contract law basics will provide a solid foundation for understanding the legal aspects of procurement contracts discussed in the course.
Browse courses on Contract Law
Show steps
  • Read a summary of contract law principles.
  • Review key terms like offer, acceptance, and consideration.
  • Complete a short quiz on contract law fundamentals.
Read 'Contract Law for Dummies'
Reading this book will help you understand the legal aspects of contracts, which are essential in procurement.
View Putting Knowledge to Work on Amazon
Show steps
  • Obtain a copy of 'Contract Law for Dummies'.
  • Read the chapters on contract formation and key clauses.
  • Take notes on important legal concepts.
Draft a Simple ITT Template
Drafting an ITT template will reinforce your understanding of the key components and structure of a tender document.
Show steps
  • Review the ITT template examples from the course.
  • Create sections for buyer information, specification, and evaluation criteria.
  • Outline the terms and conditions of the offer.
  • Get feedback from peers on your draft ITT.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Create a Procurement Glossary
Creating a glossary of procurement terms will solidify your understanding of the vocabulary used in the field.
Show steps
  • Identify key procurement terms from the course materials.
  • Write clear and concise definitions for each term.
  • Organize the terms alphabetically.
  • Share your glossary with other students for feedback.
Evaluate Sample Tender Responses
Practicing the evaluation of sample tender responses will improve your ability to assess bids effectively.
Show steps
  • Obtain sample tender responses for a hypothetical project.
  • Review the evaluation criteria from the course.
  • Score each response based on the criteria.
  • Compare your scores with a model evaluation.
Read 'Strategic Sourcing and Category Management'
Reading this book will provide a deeper understanding of strategic sourcing and category management.
View Putting Knowledge to Work on Amazon
Show steps
  • Obtain a copy of 'Strategic Sourcing and Category Management'.
  • Focus on chapters related to sourcing strategies and supplier management.
  • Apply the concepts to real-world procurement scenarios.
Attend a Procurement Conference
Attending a procurement conference will allow you to network with professionals and learn about industry trends.
Show steps
  • Research upcoming procurement conferences in your area.
  • Register for a conference that aligns with your interests.
  • Attend sessions and network with other attendees.
  • Follow up with contacts made at the conference.

Career center

Learners who complete Procurement Basics will develop knowledge and skills that may be useful to these careers:
Procurement Officer
A Procurement Officer is responsible for sourcing and purchasing goods and services for an organization. This Procurement Basics course will be useful to aspiring Procurement Officers. The course's focus on the entire procurement lifecycle, from understanding business needs to contract management, directly aligns with the core responsibilities of a Procurement Officer. The course reviews development of a procurement strategy, including timelines, budgets, and risk assessment. By understanding how to develop a procurement brief and strategy, alongside sourcing via tendering documents, you build a foundation for success in this role.
See salaries and explore the career path for Procurement Officer
Buyer
A Buyer purchases goods and services for an organization, focusing on securing the best deals and quality. The Procurement Basics course will be useful to aspiring Buyers. The course provides a thorough introduction to the procurement process, covering key areas such as understanding business needs, developing procurement strategies, and sourcing through tendering. Buyers can better understand the importance of outsourcing to an organization, and how to best execute on this, given the concepts taught in this course.
See salaries and explore the career path for Buyer
Contract Specialist
A Contract Specialist focuses on the detailed aspects of contract negotiation, development, and management. This Procurement Basics course helps new Contract Specialists get their foot in the door. The course specifically focuses on contract terms and conditions. This course helps build familiarity with the documents and processes involved in the entire procurement lifecycle. You will gain practical knowledge of contract management best practices as well as how to adapt contracts.
See salaries and explore the career path for Contract Specialist
Sourcing Specialist
A Sourcing Specialist focuses on identifying and securing the best suppliers for an organization's needs. The Procurement Basics course may be useful to Sourcing Specialists. The course's emphasis on sourcing, including tendering via Invitation to Tender and Request for Quotation, is particularly relevant. Gaining insight on drafting the components of a tender document is an expertise that helps you develop a sound sourcing process. Understanding the full procurement lifecycle, as covered in the course, will better prepare you for success as a Sourcing Specialist.
See salaries and explore the career path for Sourcing Specialist
Contract Administrator
A Contract Administrator manages and oversees contracts, ensuring compliance and managing relationships with vendors. For those interested in becoming Contract Administrators, this Procurement Basics course may be useful. The course details the sourcing and contract award phases, including due diligence checks and contract signoff. You discover best practices in contract management to ensure contract outputs are delivered. You also learn about contract variations, a useful expertise in this role.
See salaries and explore the career path for Contract Administrator
Purchasing Agent
A Purchasing Agent buys goods and services for organizations, focusing on cost-effectiveness and quality. This Procurement Basics course may be useful for aspiring Purchasing Agents. The course covers the procurement lifecycle to give you a strong grasp of the job as a Purchasing Agent. With its coverage of developing procurement strategies, sourcing, and contract awards, the course provides insights into the foundational elements of the purchasing process. Learning how to develop a procurement brief will allow you to better identify the needs and requirements for a purchase.
See salaries and explore the career path for Purchasing Agent
Category Manager
A Category Manager is responsible for the procurement and management of a specific category of goods or services. This Procurement Basics course may be useful for Category Managers. By understanding the procurement lifecycle and how to develop procurement strategies, you will be more effective in managing your category. The course helps Category Managers better understand the entire procurement process, from identifying business needs to managing contracts enabling more informed decisions.
See salaries and explore the career path for Category Manager
Procurement Analyst
A Procurement Analyst analyzes procurement data, identifies trends, and recommends improvements. This Procurement Basics course may be useful for Procurement Analysts. The course covers the whole procurement cycle, helping you better understand where data arises and can be leveraged for improvements. An understanding of the foundations of procurement will better prepare you to analyze procurement data and trends. By understanding the business needs and the procurement strategy process, you can begin to identify trends and create recommendations.
See salaries and explore the career path for Procurement Analyst
Vendor Manager
A Vendor Manager manages relationships with suppliers, ensuring performance and compliance. This Procurement Basics course may be useful to the Vendor Manager. The course explores the full procurement lifecycle giving you a baseline understanding of the procurement process. Contract management concepts from the course better prepare you to manage vendor performance and address opportunities for improvement. You will increase your knowledge of the contracts that impact the vendor relationship.
See salaries and explore the career path for Vendor Manager
Supply Chain Analyst
A Supply Chain Analyst analyzes supply chain operations to identify areas for improvement and efficiency. For those interested in becoming Supply Chain Analysts, this Procurement Basics course may be useful. While a Supply Chain Analyst role typically requires advanced training, possibly including a master's degree, this course provides context for the procurement phase of the supply chain. The course provides an overview into procurement strategy, sourcing, contract award, and contract management, so Supply Chain Analysts can better understand how the procurement process fits into the broader context of supply chain optimization.
See salaries and explore the career path for Supply Chain Analyst
Procurement Manager
A Procurement Manager oversees the procurement department, developing strategies and ensuring efficient operations. This Procurement Basics course will be useful to those who wish to become Procurement Managers. While a Procurement Manager role typically requires advanced experience, this course provides a comprehensive overview of international best practices when procuring goods and services. You will learn how to develop a procurement strategy, source using Invitations to Tender, and manage contracts effectively, all essential skills for a Procurement Manager.
See salaries and explore the career path for Procurement Manager
Project Manager
A Project Manager plans, organizes, and manages resources to bring about the successful completion of specific project goals and objectives. This Procurement Basics course may be useful to a Project Manager. A course reviewing the procurement lifecycle gives you a framework for understanding outsourced contracts. You will also gain a foundation in developing a procurement strategy, including timelines, budgets and risk assessment. The concepts taught in this course can help improve a Project Manager's ability to coordinate with vendors.
See salaries and explore the career path for Project Manager
Cost Estimator
A Cost Estimator analyzes project plans and other documentation to estimate the labor, material, and other costs required for a project. This Procurement Basics course may be useful to Cost Estimators. It is helpful to have a basic understanding of procurement when estimating the cost of goods and services to be tendered. The course specifically calls out the importance of understanding budgets and pricing schedules. Learning what goes into the development of a procurement brief will offer you insight into project costs.
See salaries and explore the career path for Cost Estimator
Business Development Associate
A Business Development Associate helps an organization grow by identifying new business opportunities, building and maintaining relationships with clients, and negotiating and closing business deals. This Procurement Basics course may be useful for a Business Development Associate, who may be involved in outsourcing contracts and business acquisition. The course mentions the need to follow procurement best practices and focuses on procurement strategy, including timelines and budgets. You also learn how to develop a procurement brief and write an Invitation to Tender.
See salaries and explore the career path for Business Development Associate
Compliance Officer
A Compliance Officer ensures that an organization adheres to relevant laws, regulations, and internal policies. This Procurement Basics course may be useful for Compliance Officers. The Compliance Officer must be aware of procurement regulations and best practices. You will gain a better understanding of compliance checks and risk logs. Learning about the regulations and policies involved with contract awards will ensure that an organization protects itself from liability.
See salaries and explore the career path for Compliance Officer

Reading list

We've selected one books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Procurement Basics.
Cover image
Putting Knowledge to Work
Save
Provides a clear and accessible overview of contract law principles. It is helpful for those without a legal background to understand the basics of contract formation, interpretation, and enforcement. While not a substitute for legal advice, it offers a solid foundation for understanding contract-related topics in the procurement process. It is best used as additional reading to supplement the course.
Putting Knowledge to Work
Paperback
Check
Putting Knowledge to Work
Kindle Edition
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Course image
Rating
4.4 Filled star Filled star Filled star Filled star Empty star
Effort
1.5 total hours
Via
Udemy
Instructor
Naomi Soko
Language
English
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Provides an overview of the procurement lifecycle, which is helpful for those looking to enter the field or supplement their existing knowledge
Explores the development of a procurement strategy, which includes project timelines, risk logs, and stakeholder identification, all of which are useful in project management
Examines tendering processes via ITT/RFQ, contract terms, pricing schedules, and compliance checks, which are essential for effective sourcing and vendor management
Covers contract management, ensuring contract outputs are delivered, which is crucial for maintaining successful supplier relationships and achieving business objectives
Includes a lecture that shares a website to obtain contract terms and conditions, but advises independent legal advice, which may incur additional costs
Uses ITT templates to teach sourcing, which may not reflect current trends in procurement that emphasize agile and dynamic sourcing strategies
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