Essentials of Purchasing Fundamentals

Objectives:
• Understand the key concepts and principles of purchasing.
• Learn the roles and responsibilities of purchasing professionals.
• Explore the procurement process from sourcing to contract management.
• Develop skills to negotiate effectively with suppliers and vendors.
• Gain insights into supplier selection, evaluation, and relationship management.
• Understand the importance of cost analysis and price evaluation in purchasing decisions.
• Learn about legal and ethical considerations in purchasing.
• Acquire knowledge of inventory management and supply chain coordination.
Course Content:
Introduction to Purchasing
• Definition and scope of purchasing
• Importance of purchasing in organizational success
• Evolution and trends in purchasing practices
Roles and Responsibilities of Purchasing Professionals
• Duties and functions of purchasing professionals
• Key competencies and skills required for purchasing roles
• Career paths and advancement opportunities in purchasing
Procurement Process
• Procurement planning and strategy development
• Sourcing methods and supplier identification
• Request for Proposal (RFP) and Request for Quotation (RFQ) processes
Negotiation Skills for Purchasing
• Principles of negotiation
• Negotiation techniques and strategies
• Building win-win relationships with suppliers
Supplier Selection and Evaluation
• Criteria for supplier selection
• Supplier performance evaluation methods
• Supplier relationship management (SRM)
Cost Analysis and Price Evaluation
• Cost analysis techniques
• Total cost of ownership (TCO) concept
• Price evaluation methods and models
Legal and Ethical Considerations in Purchasing
• Legal aspects of purchasing contracts
• Ethical dilemmas in purchasing decisions
• Compliance with regulations and standards
Inventory Management and Supply Chain Coordination
• Inventory control methods and techniques
• Just-In-Time (JIT) and Kanban systems
• Coordination with other departments and supply chain partners
Technology in Purchasing
• Role of technology in modern purchasing practices
• E-procurement systems and software tools
• Automation and digitalization of purchasing processes
Risk Management in Purchasing
• Identification and assessment of purchasing risks
• Risk mitigation strategies and contingency planning
• Supplier risk management practices
Case Studies and Best Practices
• Real-world case studies illustrating successful purchasing strategies
• Best practices in purchasing management
• Lessons learned from industry leaders in purchasing excellence
Future Trends in Purchasing
• Emerging trends and innovations in purchasing
• Impact of globalization and digital transformation
• Sustainable procurement practices and environmental considerations

FOR WHOM:
Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:      27th – 30th May,                 2025     

2ND BATCH:     9th – 12th Dec,                   2025