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Course Description

In any scenario, planning ahead saves time and headaches later. This principle remains true in the procurement process.

In this course, you will identify the purchasing strategy appropriate for any given purchasing scenario. First, you will explore reactive and proactive buying strategies, and you will determine how sales forecast data can be transformed into a bill of materials that outlines exactly what you need to purchase throughout the year. You will discover that an annual buying plan that incorporates the bill of materials improves the efficiency, effectiveness, and transparency of the procurement process. You will conduct an ABC analysis, or demand analysis, to differentiate your inventory; this will guide your strategy choices for different types of inventory items. Finally, you will draft buying strategies for differing levels of inventory that address short- and long-term planning for your organization. By the end of this course, you will have the skills and resources you need to create and refine the purchasing strategy for your organization.

Faculty Author

Christopher Gaulke

Benefits to the Learner

  • Translate your sales forecast into demand requirements to determine a materials budget
  • Execute an ABC analysis to differentiate your inventory
  • Formulate different buying strategies for each level of inventory

Target Audience

  • Operations managers and executives
  • Purchasing department staffers
  • Supply chain managers
  • Procurement clerks
  • Inventory managers
  • Aspiring procurement and purchasing managers
  • Entrepreneurs

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Language of Delivery
English
Type
2 week
Dates
Oct 05, 2022 to Oct 18, 2022
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Nov 30, 2022 to Dec 13, 2022
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Jan 25, 2023 to Feb 07, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Mar 22, 2023 to Apr 04, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
May 17, 2023 to May 30, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Jul 12, 2023 to Jul 25, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Sep 06, 2023 to Sep 19, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Nov 01, 2023 to Nov 14, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Dec 27, 2023 to Jan 09, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
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