Identifying the company's needs through procurement is essential for organization staff to obtain necessary goods and products. It will continue managing company expenses in purchasing the products or goods from partners or third parties. In this training, participants will learn to understand the concepts, responsibilities, strategies, and tactics of purchasing and procurement. Participants will also learn about the sequence of purchasing processes, such as purchase requisition produced, request for proposal, negotiation, and the financial consequences of the transaction. This training will bring advantages and influence participants to determine what procurement and purchasing procedure improvements it needs to make
Effective Purchasing and Procurement Practices
Program Objectives
Program Modules
- Introduction of procurement
- Introduction of purchasing
- From purchasing into procurement
- Components of supply chain management
- Kinds of material acquired
- Tactical purchasing goals
- The chores of purchasing
- Tactical vs strategic sourcing
- Scanning of the surrounding area.
- The structure of the organization.
- Inventory management strategy.
- Connections with vendors.
- Technology enablement
- Productivity and continuous enhancement.
- Purchase requisition produced
- Request for proposal
- Negotiation
- The financial consequences of the transaction
- Confirmation, afterwards, and approval