Online Class: Procurement Management

Name: Procurement Management
Price: 95.00 USD

Delve into the nuances of procurement, the backbone of any successful business, highlighting how ethical practices and financial savviness can transform operations. This course offers a comprehensive guide through traditional and modern procurement strategies, ensuring you're prepared to elevate your professional journey.

$95.00
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$120.00
with CEU Certificate*

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$120.00 (with CEU Certificate)

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15

Lessons
17

Exams &
Assignments
770

Students
have taken this course
8

Hours
average time
0.8

CEUs

Course Description

Mastering Procurement Management: Behind the Scenes of Business Success

In the intricate ballet of business operations, numerous unseen elements choreograph a flawless performance. Each plays its pivotal role, ensuring the smooth rhythm of the entire production. Among these unsung heroes is the art and science of procurement. The backbone of every venture, procurement fuels businesses with essential resources, ensuring they can produce, innovate, and thrive. When streamlined, this component can elevate a business, but if mismanaged, it could lead to its downfall.

Delve into the rich tapestry of procurement management with this course, designed to unravel its complexities and magnify its significance in the business arena. Here's a glimpse of the illuminating journey ahead:

Decoding the Procurement Blueprint: Walk through the meticulous stages of procurement. Discover both its traditional essence and the modern twists that shape its trajectory today.
Balancing Ethics with Ambition: Dive deep into the moral compass of procurement. Explore why ethical considerations and social responsibility are not just buzzwords but essential pillars for any successful procurement strategy.
Financial Acumen in Procurement: Beyond merely obtaining resources, understand the financial intricacies. Grasp the nuances of smart budgeting, judicious spending, and the art of sealing a deal that's both beneficial and sustainable.

This course aspires to be your compass in the vast ocean of procurement management, guiding professionals with a thirst for excellence. Procurement is a realm of challenges, nuances, and immense rewards. Are you prepared to master its depths and soar to new professional heights? Dive in, and let's embark on this transformative journey together!

Courses Frequently Bought Together:

Generational Diversity in the Workplace

Developing Great Social Skills

Goal Setting for Business

Completely Online
Self-Paced
Printable Lessons
Full HD Video
6 Months to Complete
24/7 Availability
Start Anytime
PC & Mac Compatible
Android & iOS Friendly
Accredited CEUs

Universal Class is an IACET Accredited Provider

Course Lessons

Average Lesson Rating:

"Extraordinarily Helpful"

(816 votes)

Lesson 1. Procurement 101

Procurement management ensures businesses acquire essential goods and services efficiently, helping avoid operational disruptions. This lesson highlights its significance, encompassing fundamentals, strategies, and common goals like cost-efficiency and sustainability. 12 Total Points

Lesson 1 Video
Lesson discussions: Reasons for Taking this Course
Complete Assignment: Motives for Taking this Course
Assessment: Lesson 1 Quiz

Lesson 2. Essential Skills for Effective Procurement

Procurement officers must possess robust negotiation skills to reconcile differing objectives with suppliers and secure beneficial agreements. This lesson underscores negotiation as a critical skill for advocating a company's interests while maintaining healthy supplier relationships. 10 Total Points

Lesson 2 Video
Assessment: Lesson 2 Quiz

Lesson 3. Streamlined Procurement: The Key Steps

Procurement isn't just buying; it's a complex process where managing logistics is crucial, and experts suggest using a structured method. This lesson outlines a flexible five-step process to address needs, timelines, budgets, suppliers, transactions, administration, and closures in procurement. 10 Total Points

Lesson 3 Video
Assessment: Lesson 3 Quiz

Lesson 4. Strategic Procurement: Adapting to Change and Driving Success

A well-crafted procurement strategy adapts to changing competitive environments, helping organizations navigate complex situations more effectively. This lesson explores the significance of strategy development in procurement and illustrates commonly used methodologies for implementation. 11 Total Points

Lesson 4 Video
Assessment: Lesson 4 Quiz

Lesson 5. Streamlining Procurement: The Key to Effective Talent Oversight

A solid educational foundation, including degrees and potential specializations, is crucial for anyone seeking a role in procurement management. Certifications from reputable organizations further enhance a professional's capabilities and attractiveness to employers. 10 Total Points

Lesson 5 Video
Assessment: Lesson 5 Quiz

Lesson 6. Upholding Integrity: Ethical Practices in Procurement Management

By integrating ethics into procurement management, businesses ensure moral integrity and sustain their reputation. This lesson emphasizes the development of ethical guidelines and the role of checks and balances in preventing unethical practices. 10 Total Points

Lesson 6 Video
Assessment: Lesson 6 Quiz

Lesson 7. Corporate Social Responsibility in Procurement

Social responsibility in procurement involves understanding the wide-ranging impacts of procurement actions on the business, supply chain, and community. By integrating ethics, environmental consciousness, financial responsibility, and human rights into procurement policies, businesses can promote positive change. 10 Total Points

Lesson 7 Video
Assessment: Lesson 7 Quiz

Lesson 8. Streamlining Procurement with Strategic Sourcing

Emphasizing total cost and quality, strategic sourcing advocates a detailed and technology-driven analysis that optimizes procurement beyond initial purchase prices. Its structured approach, consisting of eight fundamental steps, aids teams in making informed decisions through market research, strategic planning, supplier evaluation, and relationship management. 10 Total Points

Lesson 8 Video
Assessment: Lesson 8 Quiz

Lesson 9. The Art of Supplier Selection and Relationship Building

Building strong supplier relationships is essential in procurement, involving not just transactions but thoughtful partnerships tailored to specific needs and goals. By understanding supplier types and managing relationships, businesses can optimize procurement and remain adaptable in changing markets. 10 Total Points

Lesson 9 Video
Assessment: Lesson 9 Quiz

Lesson 10. Effective Budgeting and Spending in Procurement

Understanding the value of finance in procurement involves recognizing the limitations of prioritizing only the price tag and embracing key performance indicators to ensure accurate value assessments. Misconceptions in cost-profit dynamics highlight the importance of communication and analytical skills to avoid financial pitfalls. 10 Total Points

Lesson 10 Video
Assessment: Lesson 10 Quiz

Lesson 11. Streamlined Inventory: A Practical Approach

This lesson explains inventory management as a method for optimizing stock to support uninterrupted sales and service, intertwining with supply chain management. Learn to establish a robust inventory system and employ strategies to manage stock efficiently and economically. 10 Total Points

Lesson 11 Video
Assessment: Lesson 11 Quiz

Lesson 12. The Art and Science of Measuring Procurement Performance

Performance evaluations help procurement teams identify problem areas, assess the success of strategic implementations, and facilitate necessary adjustments. Employing KPIs offers a reliable measurement framework, but analysts must be wary of anomalies and errors that may distort data representation. 10 Total Points

Lesson 12 Video
Assessment: Lesson 12 Quiz

Lesson 13. Troubleshooting Procurement Issues

Frequent order mistakes and damaged goods necessitate vigilance and quick communication with suppliers to maintain quality. Double-checking orders and having a solid contact process are key steps for efficient issue management. 10 Total Points

Lesson 13 Video
Assessment: Lesson 13 Quiz

Lesson 14. Innovations and Impact: Technology in Procurement

Technology integration is reshaping procurement management, offering improved organization and streamlined processes using digital systems to handle complex data efficiently. This lesson examines tech’s crucial role, exploring areas of adoption, trends, functionalities, and considerations for implementation. 10 Total Points

Lesson 14 Video
Assessment: Lesson 14 Quiz

Lesson 15. Unlocking the Value of Procurement Organizations: Your Guide to Memberships and More

The ISM, founded in 1915, is a leading non-profit for supply management, offering certifications like CPSM and CPSD. It publishes the Report on Business, a vital economic indicator, and hosts an annual conference for global industry leaders. 91 Total Points

Lesson 15 Video
Lesson discussions: End of Course Poll; Course Comments; Reasons for Taking this Course
Assessment: Lesson 15 Quiz
Assessment: The Final Exam

234

Total Course Points

Learning Outcomes

By successfully completing this course, students will be able to:

Define what procurement management is.
Determine the needed skills in procurement management.
Describe the procurement process.
Develop a strategy.
Summarize procurement talent management.
Describe ethics and social responsibility in procurement management.
Describe strategic sourcing.
Summarize financial management and inventory management in the procurement management.
Identify methods for measuring and analyzing performance.
Demonstrate mastery of lesson content at levels of 70% or higher.

Additional Course Information

Document Your Lifelong Learning Achievements
Earn an Official Certificate Documenting Course Hours and CEUs
Verify Your Certificate with a Unique Serial Number Online

View and Share Your Certificate Online or Download/Print as PDF
Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media

Course Title: Procurement Management

Course Number: 9770504

Lessons Rating: 4.81 / 5 Stars (816 votes)

Languages: English - United States, Canada and other English speaking countries

Category:

UniversalClass.com > Business > Management

Availability: This course is offered online and is accessible in every state across the U.S., including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. Learners in English-speaking countries like Canada, Australia, the United Kingdom, and South Africa can also enroll.

Last Updated: December 2023

Course Type: Self-Paced, Online Class

CEU Value: 0.8 IACET CEUs (Continuing Education Units)

CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).

Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.

Assessment Method: Lesson assignments and review exams

Instructor: Dr. Metodija Stojanovski

Syllabus: View Syllabus

Course Fee: $120.00 U.S. dollars