What makes a successful buyer in this age? In this course, we will discuss all the tools and techniques required to become a successful buyer. We will cover the basic pri…
What makes a successful buyer in this age? In this course, we will discuss all the tools and techniques required to become a successful buyer. We will cover the basic principles and explore how to establish a strong foundation for the purchasing function.
The efficient buying of goods and services will be covered in detail and will include the latest modern practices of purchasing. The total purchasing cycle will also be discussed to ensure the final product hits the market as fast as possible.
Course Methodology
This course uses a variety of interactive learning methods such as group discussions, videos, team exercises, individual exercises, case studies and questionnaires.
Course Objectives
By the end of the course, participants will be able to:
By the end of the course, participants will be able to:
Gain an understanding in the importance of purchasing function
Use all the skills required to be a successful buyer
Utilize the best practices in purchasing strategies and processes
Apply the purchasing process, and understand logistical considerations
Improve communication skills required for successful buying
Build better partnerships with suppliers, and introduce negotiation skills
Target Audience
Junior buyers, intermediate buyers, purchasing department personnel and other personnel from other departments who need to understand the buying function.
Target Competencies
Introducing purchasing methods
Improving communications with suppliers
Using logistics methods
Improving materials sourcing
Developing long-term relationships with suppliers
Applying negotiation principles
Course Outline
Introduction to purchasing
Definition of purchasing
Purchasing steps
The role of the purchasing function
Centralized versus decentralized purchasing
Evolutions in buying strategies
Buyer roles and responsibilities
Duties of a buyer
Buyer's Job Description
Skills and qualities of a successful buyer
Purchasing hierarchy
Limitation of authorities
Purchasing methods and strategies
Purchase requests and orders
Conventional purchase blanket orders
Consignment purchasing
Forward buying
Outsourcing
Stockless Buying
Leasing versus buying
The purchasing process
Generic Procure-to-Pay (P2P) process
Request for Information, Quotation and Proposal (RFI, RFQ, RFP)
Purchase order
Supplier selection
Logistical considerations
Optimizing the communication cycle
Communicating better with suppliers
Communicating better with end users
Communicating better within the purchasing department