Procurement Management

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15

Lessons
16

Exams &
Assignments
10

Hours
average time
1.0

CEUs
70

Students
have taken this course

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
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:

"Extraordinarily Helpful"

(388 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

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

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

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

Review 3 Articles: Procurement Strategy Development; 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

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

Review 2 Articles: Talent Management: Why Professional Development is So Important to Procurement; 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

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 those new approaches, strategic sourcing, and how it can be used to improve procurement management. 10 Total Points

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

Review 3 Articles: How to Find and Work With Suppliers; 10 Tips to Effectively Manage Vendors and Suppliers; Types of 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

Review 3 Articles: Why Is Financial Management So Important in Business?; The Basics Of Financial Management; 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

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

Review 2 Articles: Measure Performance And Set Targets; 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

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 usage of technology in procurement management and why it is necessary. 10 Total Points

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

Take Poll: End of Course Poll
Take Survey: Course Comments
Complete: Lesson 15 Quiz
Complete: The Final Exam

233

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.

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