Procurement Management

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  • 15
  • 16
    Exams &
  • 272
    have taken this course
  • 8
    average time
  • 0.8

Course Description

There is a lot involved in the daily operations of a business, most of which the public never actually sees for themselves. Everything has a role to play that is crucial to that business or company's ability to run. Without a key component, things can come grinding to a halt and problems can occur throughout the entire organization. One of those components is known as procurement. It is how businesses get the materials they need in their daily operations and to make their own products and goods. As with any other component, procurement needs to be managed to ensure that it is being done correctly and is running smoothly.

This course will cover the role that procurement management plays in the business world and the value it has. Topics will discuss the different areas of procurement management, and include:

  • The Procurement Process--This will cover the actual stages of procurement that businesses go through to acquire their goods and materials. Traditional and non-traditional versions will be discussed.
  • Ethics and Social Responsibility--The role that ethics plays in procurement management and why it is important for businesses and procurement teams to be socially responsible with their actions.
  • Financial Management--The financial aspects can be just as complicated as the procurement itself. This will include information about how to manage spending and making smart purchases.

It is the intention of this course to provide professionals interested in procurement the necessary tools and resources to be successful. There's a lot involved in procurement management so it can be quite the challenge--are you ready to take it on? Let's go!

  • Completely Online
  • Self-Paced
  • Printable Lessons
  • Full HD Video  
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
  • Universal Class is an IACET Accredited Provider

    Course Lessons

    Average Lesson Rating:
    4.8 / 5 Stars (Average Rating)
    "Extraordinarily Helpful"
    (589 votes)

    Lesson 1: What is Procurement Management?

    This lesson will discuss the basics of procurement, including its usage, any specializations involved, common goals, and the reasons for its inclusion in business. 10 Total Points
    • Lesson 1 Video
    • Review Article: Understand your role in procurement management
    • Take Survey: Reasons for Taking this Course
    • Complete: Lesson 1 Quiz

    Lesson 2: The Needed Skills in Procurement Management

    This lesson will explore those needed for a career in procurement management and how a person can hone and develop their skills on their own. 11 Total Points
    • Lesson 2 Video
    • Review 3 Articles: Top competencies for procurement professionals; Improving Communication Skills in Your Work and Personal Relationships; 4 Ways to Improve Your Strategic Thinking Skills
    • Complete: Lesson 2 Quiz

    Lesson 3: The Procurement Process

    This lesson can be used as a guideline to develop your own version of the procurement process if you choose to do so. 10 Total Points
    • Lesson 3 Video
    • Review 2 Articles: Here Are The Stages in the Procurement Process; What is the Procurement Management Process?
    • Complete: Lesson 3 Quiz

    Lesson 4: Developing a Strategy

    This lesson will explore how you can develop an effective procurement strategy and examples of some that are commonly used in the field today. 11 Total Points
    • Lesson 4 Video
    • Review 2 Articles: 8 Easy Ways to Start Building a Procurement Strategy; 10 best practices you should be doing now
    • Complete: Lesson 4 Quiz

    Lesson 5: Procurement Talent Management

    This lesson will look at what is involved in procurement talent management, what value a professional has in the industry, and what businesses need to do in order to help their talent flourish. 10 Total Points
    • Lesson 5 Video
    • Review 3 Articles: Procurement Talent Management: An Introduction; Best practices for managing procurement talent; Revamp talent management to unlock procurement's potential
    • Complete: Lesson 5 Quiz

    Lesson 6: Ethics in Procurement Management

    Following laws and regulations, working with other businesses that are also ethical, using ethical resources, treating their employees well, etc. are all things that can give a business an ethical reputation. 10 Total Points
    • Lesson 6 Video
    • Review Article: Become a Procurement Specialist: Education and Career Roadmap
    • Complete: Lesson 6 Quiz

    Lesson 7: Social Responsibility in Procurement

    This lesson will discuss what is involved in social responsibility, how to properly manage the effects it can produce, what those effects are, and its different aspects. 10 Total Points
    • Lesson 7 Video
    • Review 3 Articles: Ethics in Procurement ? Simple, but Not Always Easy; Ethical Issues in Procurement Management; The importance of ethical procurement in modern business
    • Complete: Lesson 7 Quiz

    Lesson 8: Strategic Sourcing

    This lesson will look at one of the new approaches, strategic sourcing, and how it can be used to improve procurement management. 10 Total Points
    • Lesson 8 Video
    • Review 3 Articles: Definition of strategic sourcing; Strategic Sourcing Versus Procurement; The Traditional Purchasing Process
    • Complete: Lesson 8 Quiz

    Lesson 9: Working with Suppliers

    This lesson will focus on the suppliers a procurement team works with. 10 Total Points
    • Lesson 9 Video
    • Review Article: How to Find and Work With Suppliers
    • Complete: Lesson 9 Quiz

    Lesson 10: Financial Management

    This lesson will explore the financial elements of procurement management and the impact they can have. 10 Total Points
    • Lesson 10 Video
    • Review 2 Articles: Why Is Financial Management So Important in Business?; Issues in Financial Management
    • Complete: Lesson 10 Quiz

    Lesson 11: Inventory Management

    This lesson will discuss inventory management and what it can offer to procurement management. 10 Total Points
    • Lesson 11 Video
    • Review 3 Articles: A Beginner's Guide To Inventory Management; Inventory monitoring: 4 money-saving tips; Types of Inventory Strategies
    • Complete: Lesson 11 Quiz

    Lesson 12: Measuring and Analyzing Performance

    This lesson will discuss what is involved in measuring and analyzing performance in procurement. 10 Total Points
    • Lesson 12 Video
    • Review Article: Key Performance Indicators KPI Reports Issues and Resolution
    • Complete: Lesson 12 Quiz

    Lesson 13: When Things Go Wrong

    This lesson will look at some of the common problems that happen in procurement management. 10 Total Points
    • Lesson 13 Video
    • Review 2 Articles: The Most Common Procurement Problems Found in Organizations; Procurement ? Challenges Facing Procurement Organizations
    • Complete: Lesson 13 Quiz

    Lesson 14: Technology in Procurement Management

    This lesson will look at the use of technology in procurement management and why it is necessary. 10 Total Points
    • Lesson 14 Video
    • Review 2 Articles: Technology Is Transforming Procurement Operations: Here's What You Need to Know; What Is IT Procurement Process And How To Manage It?
    • Complete: Lesson 14 Quiz

    Lesson 15: Professional Organizations and Resources

    This final lesson will look at a variety of organizations and groups related to procurement management on the national and international levels. 91 Total Points
    • Lesson 15 Video
    • Take Poll: End of Course Poll
    • Take Survey: Course Comments
    • Take Survey: Program Evaluation Follow-up Survey (End of Course)
    • Complete: Lesson 15 Quiz
    • Complete: The Final Exam
    Total Course Points

    Learning Outcomes

    By successfully completing this course, students will be able to:
    • Define what procurement management is.
    • Determine the needed skills in procurement management.
    • Describe the procurement process.
    • Develop a strategy.
    • Summarize procurement talent management.
    • Describe ethics and social responsibility in procurement management.
    • Describe strategic sourcing.
    • Summarize financial management and inventory management in the procurement management.
    • Identify methods for measuring and analyzing performance, and
    • Demonstrate mastery of lesson content at levels of 70% or higher.

    Additional Course Information

    Online CEU Certificate
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    Document Your CEUs on Your Resume
    Course Title: Procurement Management
    Course Number: 9770504
    Course Requirements: View Course Requirements
    Lessons Rating: 4.8 / 5 Stars (589 votes)
    Languages: English - United States, Canada and other English speaking countries
    Course Type: Professional Development (Self-Paced, Online Class)
    CEU Value: 0.8 IACET CEUs (Continuing Education Units)
    CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
    Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
    Assessment Method: Lesson assignments and review exams
    Syllabus: View Syllabus
    Duration: Continuous: Enroll anytime!
    Course Fee: $50.00 (no CEU Certification) || with Online CEU Certification: $75.00

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