Foundations of Purchasing: Principles and Practices
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Foundations of Purchasing: Principles and Practices
This course is part of Business Execution: Ops, Team Management & Communication Specialization
Instructors: Manish Gupta
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What you'll learn
Describe the purchasing process and its strategic importance to organizations.
Identify techniques for effective supplier evaluation, selection, and management.
Identify techniques for effective supplier evaluation, selection, and management.
Apply knowledge of purchasing and supply chain management to real-world scenarios
Details to know
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There is 1 module in this course
Effective supply chain is crucial for businesses to ensure consistent supply of raw materials and continuation of its value creation.
Dive deeper into the core of purchasing with this detailed course, designed to provide you with a foundational understanding of the key concepts, strategies, and practices. This course is aimed at empowering participants with the necessary skills to manage purchasing activities effectively, forge strong supplier relationships, and contribute significantly to their organization's competitiveness and profitability. Through this course, learners will grasp the critical role of purchasing in organizational success and supply chain optimization, learn the principles of effective purchasing, supplier selection, and gain proficiency in negotiating, managing contracts, and ethical procurement practices.
Effective supply chain is crucial for businesses to ensure consistent supply of raw materials and continuation of its value creation. Dive deeper into the core of purchasing with this detailed course, designed to provide you with a foundational understanding of the key concepts, strategies, and practices. This course is aimed at empowering participants with the necessary skills to manage purchasing activities effectively, forge strong supplier relationships, and contribute significantly to their organization's competitiveness and profitability.
What's included
11 videos4 readings2 assignments
11 videos•Total 47 minutes
- Introduction to the Course & Meet the Instructor•2 minutes
- The Role of Purchasing in Organizations •4 minutes
- Purchasing Process Overview: Walkthrough of Case Study •5 minutes
- Strategic Sourcing with Practical Real World Examples •6 minutes
- Supplier Evaluation and Selection •5 minutes
- Building Strong Supplier Relationships: Practical Tips •5 minutes
- Ethical Procurement Practices: Real Life Case Studies •5 minutes
- Fundamentals of Negotiation: Demonstration of Tips with an Example •6 minutes
- Contract Management: Technology and Trends •4 minutes
- Legal and Ethical Considerations •4 minutes
- Congratulations and Continuous Learning Journey•2 minutes
4 readings•Total 20 minutes
- Welcome to the Course•5 minutes
- The Strategic Role of Procurement•5 minutes
- 10 Supplier Management Best Practices and Strategies •5 minutes
- Negotiation Guide •5 minutes
2 assignments•Total 50 minutes
- Foundations of Purchasing: Principles and Practices •20 minutes
- Practicing Purchasing Principles•30 minutes
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Instructors
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Airbus Beyond
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Reviewed on Apr 12, 2025
The course has equipped me with practical knowledge that I am confident will benefit my current role and contribute to overall operational improvement.
Reviewed on Sep 22, 2024
Very in depth. Renewed my love for Purchasing again.
Reviewed on Apr 10, 2025
At first, it was a bit hard with the teacher's English but very fast I adapted. The course is very well structured and the information is very well organized and delivered. Thank you!
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