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Course Title: Fundamentals of Purchasing
Author: George L. Harris
Provider: American Management Association
Price: $79.95
CEU Credits: 2
Level: Fundamental
Field Of Study: N/A
Prerequisites: None
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Purchasing has a direct and powerful effect on your organization's bottom line. Your role in this strategic function is a complex one. You have to orchestrate a dynamic chain of events from bid solicitation to final delivery—often as a member of a multifunctional team—and satisfy the needs of your internal customers without breaking the bank. This course is designed for new purchasing professionals. It will ground you in the basics as they are practiced in a contemporary business environment. With a strong emphasis on real-world practices and corporate teamwork, it leads you through the six fundamentals of purchasing: how to gather the necessary information, set a purchase strategy, develop and send your RFQ (request for quotation or proposal), evaluate and choose suppliers, negotiate terms and conditions, and implement the agreement. At each step, you'll find work assignments, sample documents, and exercises that are directly relevant to your job. Those involved with global procurement will appreciate the special guidance on the logistics of international purchasing.

Learn how to:

  • Perform all basic purchasing functions
  • Establish an effective purchasing system
  • Identify the best suppliers
  • Reduce costs for your company
  • Work with other staff members on purchasing activities
  • Identify how purchasing impacts company profitability

About This Course:

Fundamentals of Purchasing introduces new purchasing professionals to the wide range of responsibilities and relationships that define today's purchasing function. Whether you are in "procurement," "sourcing," or "supply-chain management," this new self-study course will help you understand how your role adds value to the organization.

    In this course, you will follow the purchasing cycle from its inception through bid solicitation, proposal receipt, evaluation, negotiation, and contract. Using the six-step purchasing management process, you will learn how to develop and implement a successful purchasing strategy, select the best suppliers, and employ effective negotiating techniques. Throughout the course, the author provides work assignments, sample documents, and exercises that give you the opportunity to apply this new knowledge directly to your own purchasing area and see on a daily basis how your work impacts the bottom line.

    Fundamentals of Purchasing will show you that the responsibilities for purchasing today extend far beyond the purchase order and can require financial, manufacturing, engineering, or quality expertise. Accomplishing the goals of supply management requires the input of many functions. Here the author offers sound guidance for enlisting the support and knowledge of others to ensure that the requirements of the entire organization are considered. Finally, he helps you draft a professional development plan to expand your own expertise as a world-class purchasing professional.

    George L. Harris, C.P.M. is President of Harris Consulting, a training and consulting services company specializing in procurement, contracting, quality, and manufacturing, located in Lexington, Massachusetts. Harris specializes in the areas of procurement, materials management, and quality management. He previously held positions at Prime Computer and Digital Equipment Corporation as director of materials. Over the past twelve years, he has trained over 5,000 individuals in purchasing topics. Publishing credits include various articles in NAPM Insights, NCMA journal, Grants Magazine, Electronics Buyers News, and a book titled Negotiations: Six Steps to Success, published in 1995.

    Harris holds a B.S. from Georgetown University and a M.B.A. in Government Procurement and Materials Management from George Washington University.

    The publisher would like to thank the following people for their review of the manuscript of this course: Mr. Robert Nahabit, C.P.M., founder of Nahabit & Associates, Inc., Austin, Texas, and Professor Juanita Vertrees, C.P.M., A.P.P., a retired faculty member of Sinclair Community College, Dayton, Ohio.

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