Fundamentals of Purchasing for New Buyers

Day 1: Introduction to Purchasing and Its Value

• Understanding the purchasing cycle and its importance to the organization.
• Key criteria for measuring a buyer's performance.
• Strategies for cost reduction through effective purchasing.
• Overview of purchasing management policies, procedures, controls, and standards.

Day 2: Supplier Relations and the Requisition Process

• Requisition and purchasing policies: what buyers need to know.
• Exploring the different types of solicitation and their uses.
• How to qualify and pre-select suppliers for better outcomes.
• Assessing the risks associated with working with suppliers.

Day 3: Analysing the Supplier Market and Competitive Pricing

• Techniques for assessing competitive market pricing.
• Factors to consider when comparing supplier pricing and proposals.
• Understanding pricing structures and how to evaluate them effectively.
• The role of market research in making informed purchasing decisions.

Day 4: Specialized Purchasing Management Tools

• Introduction to purchasing/procurement cards and how they streamline the buying process.
• Understanding service contracts: when and how to use them.
• Managing supplier relationships through effective communication and negotiation.
• Practical applications of purchasing tools in real-world scenarios.

Day 5: Improving Purchasing Efficiency and Decision-Making

• Cost analysis is used to gain a better negotiating position.
• Identifying hidden costs and how to mitigate them.
• Enhancing your company's savings through strategic purchasing management.
• Key considerations for selecting and qualifying suppliers to ensure long-term success.