Purchase management from edX

For a company to function properly it must have a permanent supply of raw materials and goods; if sourcing is done efficiently, availability for manufacturing and/or sale will be permanent.

There are tasks prior to purchasing to be conducted such as knowing the requirements of the business and the manufacturing process, knowing the providers in depth, always assessing that their quality and costs are best suited to the business. Start exploring purchasing in this online course.

Purchasing planning and management are of great importance for any organization, regardless if it is a micro enterprise, an SME or a large company. Learn about purchasing management in your organization with this business management course.

What you'll learn

How to create a sales plan and market segmentation according to the company’s capacity and offer to guarantee precise manufacturing.
Identify the main characteristics of demand management to anticipate market and client variability.
Learn about success cases in the use of demand management as application examples and be able to adapt them to your company’s own capacity.

What's inside

Syllabus

Module 0: Welcome

The impact of purchasing in my company

Module 1: Purchase planning

What is sourcing in a company?

Planning

Factors for strategic purchasing and sourcing

Diagnosis

Module 2: Collaboration in purchase and sourcing

Collaboration in sourcing

Sales and inventory data

Out of stock

Negotiation

Module 3: Providers and business partners

Provider management

Purchasing processes

Key concepts about providers

Module 4: Costs, prices and reception of materials

Costs vs Prices

Logistical cost

Reception of raw materials

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for business professionals and managers with responsibilities in purchasing and supply chain

Relevant for individuals seeking to enhance their understanding of purchasing management

Appropriate for learners interested in exploring concepts and best practices in sourcing and procurement

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 Purchase management with these activities:

Join a Study Group to Discuss Purchasing Strategies

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Engage in peer-to-peer learning and sharing of experiences to enhance understanding of purchasing strategies.

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Find or form a study group with fellow students or colleagues.
Set regular meeting times and topics for discussion.
Actively participate in discussions, share insights, and learn from others' perspectives.

Follow Tutorials on Vendor Management and Supplier Relationship Management

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Gain insights into best practices for managing vendors and building strong supplier relationships.

Browse courses on Vendor Management

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Identify reputable online tutorials on vendor and supplier management.
Follow the tutorials and take notes on key concepts and strategies.
Apply the learnings to your own work environment, identifying areas for improvement.

Read 'Purchasing and Supply Management' by Donald Waters

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Gain a foundational understanding of purchasing and supply management principles and best practices.

View Global Logistics: New Directions in Supply... on Amazon

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Read Chapters 1-4 to understand the fundamentals of purchasing and supply management.
Summarize the key concepts discussed in each chapter.
Apply the concepts to your own work environment, identifying areas for improvement.

Four other activities

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Solve Case Studies on Purchasing and Negotiation

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Develop critical thinking and decision-making abilities in the context of purchasing and negotiation.

Browse courses on Case Studies

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Analyze the case study and identify the key issues and challenges.
Develop alternative solutions and evaluate their pros and cons.
Select the best solution and justify your decision.

Develop a Purchasing Plan for a Specific Product

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Apply the principles of purchasing planning and management to a real-world scenario.

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Identify the product and its specifications.
Research potential suppliers and evaluate their capabilities.
Negotiate terms and conditions with the selected supplier.
Develop a detailed purchasing plan outlining the procurement process.

Conduct a Purchasing Audit for Your Organization

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Identify areas for improvement in your organization's purchasing process.

Browse courses on Performance Evaluation

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Gather data on current purchasing practices, including policies, procedures, and performance metrics.
Analyze the data and identify areas of inefficiency, waste, or non-compliance.
Develop recommendations for improvements, including process changes, technology upgrades, or training programs.

Participate in a Purchasing Case Competition

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Apply your knowledge and skills in a competitive setting to solve real-world purchasing challenges.

Browse courses on Problem Solving

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Research and identify relevant purchasing case competitions.
Form a team with complementary skills and experiences.
Analyze the case study, develop a solution, and prepare a presentation.
Present your solution to a panel of judges and receive feedback.

Career center

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

Cost Analyst

Cost Analysts are responsible for analyzing the costs of goods and services. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the cost analysis process. The course covers topics such as cost accounting, data analysis, and cost reduction strategies, all of which are essential for success in this role.

See salaries and explore the career path for Cost Analyst

Purchasing Manager

Purchasing Managers oversee the procurement of goods and services for their organizations. This course may be useful for those looking to enter this field, as it provides a strong foundation in the principles of purchasing and sourcing. The course covers topics such as demand management, supplier management, and cost analysis, all of which are essential for success in this role.

See salaries and explore the career path for Purchasing Manager

Demand Planner

Demand Planners are responsible for forecasting demand for goods and services. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the demand planning process. The course covers topics such as market research, data analysis, and forecasting techniques, all of which are essential for success in this role.

See salaries and explore the career path for Demand Planner

Materials Manager

Materials Managers are responsible for the procurement and management of materials used in manufacturing. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the materials management process. The course covers topics such as inventory management, supplier management, and cost analysis, all of which are essential for success in this role.

See salaries and explore the career path for Materials Manager

Procurement Specialist

Procurement Specialists are responsible for sourcing and negotiating the purchase of goods and services for their organizations. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the procurement process. The course covers topics such as demand forecasting, supplier management, and contract negotiation, all of which are essential for success in this role.

See salaries and explore the career path for Procurement Specialist

Purchasing Agent

Purchasing Agents are responsible for sourcing and negotiating the purchase of goods and services for their organizations. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the purchasing process. The course covers topics such as demand forecasting, supplier management, and contract negotiation, all of which are essential for success in this role.

See salaries and explore the career path for Purchasing Agent

Supplier Relationship Manager

Supplier Relationship Managers are responsible for managing relationships with suppliers. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the supplier relationship management process. The course covers topics such as supplier selection, contract negotiation, and performance management, all of which are essential for success in this role.

See salaries and explore the career path for Supplier Relationship Manager

Supply Chain Manager

Supply Chain Managers oversee the flow of goods and services from suppliers to customers. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the supply chain management process. The course covers topics such as inventory management, transportation, and logistics, all of which are essential for success in this role.

See salaries and explore the career path for Supply Chain Manager

Project Manager

Project Managers are responsible for planning and executing projects. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the project management process. The course covers topics such as project planning, scheduling, and risk management, all of which are essential for success in this role.

See salaries and explore the career path for Project Manager

Business Analyst

Business Analysts are responsible for analyzing business processes and recommending improvements. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the business analysis process. The course covers topics such as process mapping, data analysis, and solution design, all of which are essential for success in this role.

See salaries and explore the career path for Business Analyst

Logistics Manager

Logistics Managers are responsible for planning and executing the movement of goods and services. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the logistics management process. The course covers topics such as transportation, warehousing, and inventory management, all of which are essential for success in this role.

See salaries and explore the career path for Logistics Manager

Inventory Manager

Inventory Managers are responsible for managing the flow of goods in and out of a warehouse. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the inventory management process. The course covers topics such as stock control, forecasting, and replenishment, all of which are essential for success in this role.

See salaries and explore the career path for Inventory Manager

Operations Manager

Operations Managers are responsible for the day-to-day operations of a business. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the operations management process. The course covers topics such as process management, quality control, and customer service, all of which are essential for success in this role.

See salaries and explore the career path for Operations Manager

Management Consultant

Management Consultants are responsible for advising businesses on how to improve their operations. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the management consulting process. The course covers topics such as business analysis, strategic planning, and change management, all of which are essential for success in this role.

See salaries and explore the career path for Management Consultant

Warehouse Manager

Warehouse Managers are responsible for the day-to-day operations of a warehouse. This course may be useful for those looking to enter this field, as it provides a comprehensive overview of the warehouse management process. The course covers topics such as inventory management, shipping and receiving, and safety, all of which are essential for success in this role.

See salaries and explore the career path for Warehouse Manager

Purchase management

What you'll learn

What's inside

Syllabus

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Activities

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