Online Class: Procurement Management

This course will cover the role that procurement management plays in the business world and the value it has.

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  • 15
  • 17
    Exams &
  • 625
    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"
(733 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. Additional lesson topics: Understand your role in procurement management; The Procurement and Supply Manager's Desk Reference; Procurement, Principles and Management 11th Edition 12 Total Points
  • Lesson 1 Video
  • Lesson discussions: Reasons for Taking this Course
  • Complete Assignment: Motives for Taking this Course
  • Assessment: 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. Additional lesson topics: competencies for procurement professionals; Several Ways to Improve Your Strategic Thinking Skills; Improving Communication Skills in Your Work and Personal Relationships 10 Total Points
  • Lesson 2 Video
  • Assessment: 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. Additional lesson topics: Here Are The Stages in the Procurement Process; What is the Procurement Management Process? 10 Total Points
  • Lesson 3 Video
  • Assessment: 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. Additional lesson topics: 8 Easy Ways to Start Building a Procurement Strategy; Several best practices you should be doing now 11 Total Points
  • Lesson 4 Video
  • Assessment: 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. Additional lesson topics: Procurement Talent Management: An Introduction; Revamp talent management to unlock procurement's potential 10 Total Points
  • Lesson 5 Video
  • Assessment: 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. Additional lesson topics: Become a Procurement Specialist: Education and Career Roadmap; The Importance of Continuing Professional Development CPD 10 Total Points
  • Lesson 6 Video
  • Assessment: 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. Additional lesson topics: Ethics in Procurement – Simple, but Not Always Easy; The importance of ethical procurement in modern business; Ethical Issues in Procurement Management 10 Total Points
  • Lesson 7 Video
  • Assessment: 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. Additional lesson topics: Definition of strategic sourcing; The Traditional Purchasing Process; Strategic Sourcing Versus Procurement 10 Total Points
  • Lesson 8 Video
  • Assessment: Lesson 8 Quiz

Lesson 9: Working with Suppliers

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

Lesson 10: Financial Management

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

Lesson 11: Inventory Management

This lesson will discuss inventory management and what it can offer to procurement management. Additional lesson topics: A Beginner's Guide to Inventory Management; Types of Inventory Strategies; Inventory monitoring: Several money-saving tips 10 Total Points
  • Lesson 11 Video
  • Assessment: Lesson 11 Quiz

Lesson 12: Measuring and Analyzing Performance

This lesson will discuss what is involved in measuring and analyzing performance in procurement. Additional lesson topics: The Basics of Key Performance Indicators KPI ; Key Performance Indicators KPI Reports Issues and Resolution 10 Total Points
  • Lesson 12 Video
  • Assessment: Lesson 12 Quiz

Lesson 13: When Things Go Wrong

This lesson will look at some of the common problems that happen in procurement management. Additional lesson topics: 5 Common Procurement Problems With Easy Fixes ; Procurement — Challenges Facing Procurement Organizations; The Most Common Procurement Problems Found in Organizations 10 Total Points
  • Lesson 13 Video
  • Assessment: 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. Additional lesson topics: Technology Is Transforming Procurement Operations: Here's What You Need to Know; What Is IT Procurement Process and How to Manage It? 10 Total Points
  • Lesson 14 Video
  • Assessment: 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
  • Lesson discussions: End of Course Poll; Course Comments; Program Evaluation Follow-up Survey (End of Course)
  • Assessment: Lesson 15 Quiz
  • Assessment: 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.
  • Demonstrate mastery of lesson content at levels of 70% or higher.

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
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Document Your CEUs on Your Resume
Course Title: Procurement Management
Course Number: 9770504
Lessons Rating: 4.8 / 5 Stars (733 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: This course is online and available in all 50 states including: California, Florida, Georgia, Illinois, New York, Pennsylvania, Ohio, and Texas.
Last Updated: January 2023
Course Type: 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
Course Fee: $95.00 U.S. dollars

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