Purchasing and Vendor Management Essentials Curriculum Outline
Fundamentals of Purchasing and Vendor Management
Overview/DescriptionPurchasing and vendor management are important organizational functions. An organizations purchases account for a large share of its total costs. The changing nature of todays business environment and the move toward decentralization have extended the purchasing function to departmental levels so that it also includes non-purchasing professionals. Regardless of their specific roles, many managers and team leaders have purchasing and vendor management responsibilities. These individuals must understand the purchasing process and have a general knowledge of common purchasing considerations and strategies and their impact on purchasing activities at the departmental level. Equipping purchasing personnel in this way can help organizations save on purchases and build more rewarding vendor relationships. This course provides an overview of the purchasing and vendor management functions within an organization, introduces the stages of the general purchasing process, and discusses how to develop a purchasing strategy within the context of a corporate strategy.
Target AudienceSupervisors, team leaders, managers, and non-purchasing professionals who want to develop or refine their purchasing and vendor management skills
Expected Duration (hours)1.0
Lesson Objectives Fundamentals of Purchasing and Vendor Management
Identify ways in which purchasing personnel add value to the organization Sequence the stages of the purchasing process Recognize how a corporate purchasing strategy impacts the purchasing decisions of functional managers Recognize appropriate content for a purchasing strategy Identify the required elements of a purchasing strategy Course Number:
oper_23_a01_bs_enus Back to ListPurchasing: Finding Sources of Supply
Overview/DescriptionYour organizations purchases probably account for the largest share of its total costs. Having a clear understanding of your product and service requirements and conveying those requirements to the right suppliers may result in huge savings for your organization. But finding the right suppliers takes effort. First you need to identify the best available suppliers based on reliable information and research. Then you need to prepare a solicitation document, such as a Request for Proposal or Request for Quotation, and send it to the qualified suppliers. This course discusses how to find sources of supply using this solicitation process and prepares you to choose the best sourcing strategy for a given purchase. It discusses how purchase requisitions are created and how information about suppliers is proactively researched. Finally, it covers how, based on this information, solicitation documents are prepared and sent to potential suppliers for their responses.
Target AudienceSupervisors, team leaders, managers, and nonpurchasing professionals who want to develop or refine their purchasing and vendor management skills
Expected Duration (hours)1.0
Lesson Objectives Purchasing: Finding Sources of Supply
Choose the best sourcing strategy for a given purchase Complete a purchase requisition Identify the types of information you need to obtain about potential suppliers Identify sources that contain information about potential suppliers Match types of solicitation documents with their corresponding characteristics Determine which type of solicitation document to use given a scenario Course Number:
oper_23_a02_bs_enus Back to ListSelecting Suppliers and Administering Contracts
Overview/DescriptionOne of the most important steps in the purchasing process is to select the supplier that best meets your organizations purchase needs. To help with this part of the process, organizations develop supplier evaluation criteria and use tools designed to conduct a comprehensive and objective evaluation of suppliers. Once the supplier is chosen, the next step is to formalize the deal through a contract that outlines the terms of the supplier-buyer relationship. Reaching agreement with suppliers over contract terms requires purchasers to be effective negotiators. This course discusses how to choose suppliers using the supplier evaluation and selection process. It explains how to create a supplier evaluation matrix, comprised of various predetermined criteria, and use the matrix to evaluate and select the best proposal. The course also outlines some key principles of effective negotiation and introduces common types of contracts that are used to meet different purchase requirements.
Target AudienceSupervisors, team leaders, managers, and non-purchasing professionals who want to develop or refine their purchasing and vendor management skills
Expected Duration (hours)1.0
Lesson Objectives Selecting Suppliers and Administering Contracts
Recognize the elements of a vendor evaluation matrix Select a supplier for a given purchase requirement based on a completed supplier evaluation Recognize the method for completing a supplier evaluation matrix Recognize principles of effective negotiation Match types of contracts with their corresponding descriptions Course Number:
oper_23_a03_bs_enus Back to ListEvaluating Supplier Performance and Managing Supplier Relationships
Overview/DescriptionEvaluating the performance of your suppliers and maintaining mutually fulfilling relationships with them are essential activities in supplier relationship management. There are many types of supplier-related problems that you may have to deal with, and effective purchasing personnel use key performance criteria to analyze and track their suppliers performance. Analysis of supplier performance can help you ensure that your company is getting the best value and service from suppliers, and detect areas in which corrective action needs to be taken. Effective performance feedback is a key component of long-term supplier partnerships. This course presents strategies for monitoring performance and maintaining productive long-term supplier relationships. It also outlines several types of supplier performance issues and offers ways to handle them.
Target AudienceSupervisors, team leaders, managers, and non-purchasing professionals who want to develop or refine their purchasing and vendor management skills
Expected Duration (hours)1.0
Lesson Objectives Evaluating Supplier Performance and Managing Supplier Relationships
Recommend how a buyer could establish a strong relationship with a new supplier Recognize characteristics of a strategic alliance between a buyer and supplier Use a supplier evaluation scorecard to determine whether a given suppliers performance is acceptable Match types of non-compliance issues with corresponding strategies for handling them Determine the best method for delivering performance feedback to a supplier in a given example Recognize guidelines for delivering performance feedback to a supplier Course Number:
oper_23_a04_bs_enus Back to List
Purchasing and Vendor Management Essentials
This self-paced online training course introduces individuals to the essential concepts of purchasing and vendor
management. An organization's purchases account for a large share of its total costs. The changing nature of today’s
business environment and the move toward decentralization has extended the purchasing function to departmental levels,
so that it also includes non-purchasing professionals. Regardless of their specific roles, many managers and team
leaders have purchasing and vendor management responsibilities.
CBT Direct’s Online Purchasing and Vendor Management Essentials Training can help individuals understand the
purchasing process. This course gives students a general knowledge of common purchasing considerations, strategies,
and the impact on purchasing activities at the departmental level. Equipping purchasing personnel with this
information can help organizations save on purchases and build more rewarding vendor relationships.
Benefits of CBT Direct’s Online Purchasing and Vendor Management
Essentials Training
CBT Direct boasts the most beneficial online training on the market. With CBT Direct’s online training, you have
the flexibility to study on your schedule, and with the speed and reliability of the internet, CBT Direct’s Purchasing
and Vendor Management Essentials training course is accessible anywhere you have an internet connection. Convenience
finally costs less with CBT Direct - the most affordable online training solution today.
The unique design of CBT Direct’s Purchasing and Vendor Management Essentials course emphasizes learner initiative,
self-management and experiential learning. CBT Direct’s online course design begins with the definition of user-focused
performance objectives and then proceeds to the selection and implementation of instructional strategies and learning
activities appropriate for those objectives. This effective instruction model for CBT Direct’s Purchasing and Vendor
Management Essentials training course ensures the greatest level of comprehension and retention.
Who Benefits from CBT Direct’s Purchasing and Vendor Management
Essentials Training?
Our self-paced online training is designed to help individuals working as a purchasing or vendor manager, wanting to
develop or refine their purchasing and vendor management essentials skills.
What Professionals Will Learn from CBT Direct’s Purchasing and Vendor Management Essentials Training
Our self-paced online training course will provide an overview of the purchasing and vendor management essentials
functions within an organization. Learners will be introduced to the stages of the general purchasing process and
discuss how to develop a purchasing strategy within the context of a corporate strategy.
CBT Direct’s online training will examine how to find sources of supply using this solicitation process and
prepares you to choose the best sourcing strategy for a given purchase. You will also discuss how purchase requisitions
are created and how information about suppliers is proactively researched. Finally, this course covers how, based on
this information, solicitation documents are prepared and sent to potential suppliers for their responses.
Click here to see a detailed curriculum outline.
This self-paced online training course discusses how to choose suppliers using the supplier evaluation and selection
process. Training participants will also learn how to create a supplier evaluation matrix, comprised of various
predetermined criteria, and use the matrix to evaluate and select the best proposal. This online course also outlines
some key principles of effective negotiation and introduces common types of contracts that are used to meet different
purchase requirements.
This course examines the strategies for monitoring performance and maintaining productive long-term supplier
relationships. Additionally, it outlines several types of supplier performance issues and offers ways to handle them.
Purchasing and Vendor Management Essentials
