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Procurement Basics

This Course includes basic information on procurement, Importance of the procurement organization and its’ role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, Differences between direct and indirect procurement, and Stakeholder management

The course will supported by videos, readings and a required case that will be assessed by a peer review.

In addition, a Practice Assessment (multiple choice) is available to the student. This should be helpful as there is a Final Assessment (40 Multiple Choice) at the end of the specialization in Course 7 that is required to obtain the certification.

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What's inside

Syllabus

Welcome & Procurement Definitions

Importance of Procurement

Procurement Processes

Directs vs. Indirects

Stakeholder Management

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Covers the concepts of procurement management, which is standard in business

Suitable for learners preparing for a leadership role in procurement

Explores the importance of procurement in an organization, which is crucial for business success

Taught by Don Klock, an experienced procurement professional

Requires learners to complete a case study that is assessed by peer review

Assessed through a final multiple-choice assessment, which can be challenging for some learners

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Reviews summary

Procurement basics well-received

Learners say Procurement Basics is a largely positive course that covers the basics of procurement. Students appreciate the excellent explanations and examples provided by the instructor. While some students mention redundant and outdated materials, most find the readings and videos to be helpful and informative. The final case study is also well-received as a practical application of procurement concepts.

Instructor is clear and engaging

"Explanation were clear and concise."

"The videos and materials were <span class="good">top notch"

"Great Strategies <span class="good">to keep a solid and healthy business relationship with vendors"

Final case study is well-designed

"The final case of Avion Inc. was a <span class="good">well-designed leaning conclusion."

Informative and practical content

"Very helpful <span class="good">and useful information!"

"Good course to deliver concepts and widen the horizons when it comes to stakeholders management."

"This course has been really insightful and I will admonish anyone who would like to properly understand the procurement process or take a new career in procurement to take up this course."

Some materials are redundant

"Some of the materials are redundant, old, and/or poorly written."

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 cost analysis techniques

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Review cost analysis techniques to help understand the importance of cost versus value in procurement.

Browse courses on Cost Analysis

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Review books on cost analysis techniques.
Take practice tests on cost analysis techniques.
Participate in online forums on cost analysis techniques.

Watch tutorials on stakeholder management

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Watch tutorials on stakeholder management to learn how to effectively manage stakeholders in procurement.

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Search for tutorials on stakeholder management.
Watch tutorials on stakeholder management.
Take notes on key concepts of stakeholder management.

Practice writing RFQs, RFPs, and RFXs

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Practice writing RFQs, RFPs, and RFXs to understand the different types of procurement documents.

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Review examples of RFQs, RFPs, and RFXs.
Write practice RFQs, RFPs, and RFXs.
Get feedback on practice RFQs, RFPs, and RFXs.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Volunteer with a procurement organization

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Volunteer with a procurement organization to gain practical experience and build your network.

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Search for procurement volunteer opportunities.
Apply for procurement volunteer opportunities.
Volunteer with a procurement organization.

Procurement Plan Proposal

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Apply your knowledge of procurement processes to develop a comprehensive plan for a specific procurement project.

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Identify the need for a procurement project.
Research and analyze the market.
Develop a procurement strategy.
Create a detailed procurement plan.
Present your plan to stakeholders.

Participate in a peer review of a procurement case

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Participate in a peer review of a procurement case to learn from others and improve your procurement skills.

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Find a peer review group or forum.
Submit a procurement case for review.
Review procurement cases submitted by others.
Provide feedback on procurement cases.

Create a procurement plan

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Create a procurement plan to demonstrate your understanding of the procurement process.

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Identify the procurement need.
Develop a procurement strategy.
Create a procurement plan.

Career center

Learners who complete Procurement Basics will develop knowledge and skills that may be useful to these careers:

Procurement Manager

A Procurement Manager plans, organizes, directs, controls, and evaluates the procurement of goods and services for an organization. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Procurement Manager

Purchasing Agent

A Purchasing Agent researches, identifies, and procures goods and services for an organization. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Purchasing Agent

Supply Chain Manager

A Supply Chain Manager plans, organizes, directs, controls, and evaluates the flow of goods and services from suppliers to customers. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Supply Chain Manager

Materials Manager

A Materials Manager plans, organizes, directs, controls, and evaluates the procurement, storage, and distribution of materials for an organization. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Materials Manager

Inventory Manager

An Inventory Manager plans, organizes, directs, controls, and evaluates the storage and distribution of inventory for an organization. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Inventory Manager

Logistics Manager

A Logistics Manager plans, organizes, directs, controls, and evaluates the transportation and storage of goods for an organization. This course can help prepare for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management. The course also includes a required case that will be assessed by a peer review, which can help build skills in critical thinking and problem-solving.

See salaries and explore the career path for Logistics Manager

Warehouse Manager

A Warehouse Manager plans, organizes, directs, controls, and evaluates the storage and distribution of goods in a warehouse. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Warehouse Manager

Transportation Manager

A Transportation Manager plans, organizes, directs, controls, and evaluates the transportation of goods for an organization. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Transportation Manager

Operations Manager

An Operations Manager plans, organizes, directs, controls, and evaluates the operations of an organization. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Operations Manager

Project Manager

A Project Manager plans, organizes, directs, controls, and evaluates projects for an organization. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Project Manager

Business Analyst

A Business Analyst analyzes business processes and identifies opportunities for improvement. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Business Analyst

Financial Analyst

A Financial Analyst analyzes financial data and identifies opportunities for investment. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Financial Analyst

Management Consultant

A Management Consultant advises organizations on how to improve their operations. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Management Consultant

Sales Manager

A Sales Manager plans, organizes, directs, controls, and evaluates the sales of an organization. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Sales Manager

Marketing Manager

A Marketing Manager plans, organizes, directs, controls, and evaluates the marketing of an organization. This course may be useful in preparing for this role by providing a foundation in procurement basics, including the importance of the procurement organization and its role in the organization, cost vs. value, processes such as the use of RFQ, RFP, RFX, and stakeholder management.

See salaries and explore the career path for Marketing Manager

Reading list

We've selected 11 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.

Purchasing & Supply Chain Management

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This textbook provides a comprehensive overview of purchasing and supply chain management, covering topics such as procurement strategy, supplier management, and logistics. It valuable reference for students and professionals in the field.

Procurement Basics

Two deals to help you save

What's inside

Syllabus

Good to know

Save this course

Reviews summary

Procurement basics well-received

Activities

Career center

Reading list

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