Learn the fundamentals of purchasing for business. Find out how to manage suppliers, contracts, and costs, and implement strategic sourcing.
- We all know something about purchasing. Everyone buys stuff for their personal use, but have you ever wondered how the professionals buy things in the business world? Well, good, because in this course, that's exactly what I'm going to talk about, the fundamentals of purchasing. My name is Steven Brown, and I teach purchasing courses for the WP Carey School of Business at Arizona State University. In this course, I'll explain why purchasing is important, and I'll teach you the principle processes and procedures of the purchasing function.
I'll describe the basic tools a buyer uses to manage company costs. And finally, I'll talk about special topics of interest like esourcing and how to measure your purchasing department's performance. If you're interested in learning more about the world of purchasing, this is the course for you. So join me, and let's take a closer look at the fundamentals of purchasing.
- Explain the purchasing process.
- Define purchase order.
- Describe the intent of a purchasing policy.
- Distinguish types of purchasing structures.
- List the steps of selecting a supplier.
- Identify enablers for success in worldwide sourcing.
- Perform price and cost analysis.
- Measure supply management performance.