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 &
  • 703
    have taken this course
  • 8
    average time
  • 0.8

Course Description

Mastering Procurement Management: Behind the Scenes of Business Success

In the intricate ballet of business operations, numerous unseen elements choreograph a flawless performance. Each plays its pivotal role, ensuring the smooth rhythm of the entire production. Among these unsung heroes is the art and science of procurement. The backbone of every venture, procurement fuels businesses with essential resources, ensuring they can produce, innovate, and thrive. When streamlined, this component can elevate a business, but if mismanaged, it could lead to its downfall.

Delve into the rich tapestry of procurement management with this course, designed to unravel its complexities and magnify its significance in the business arena. Here's a glimpse of the illuminating journey ahead:

  • Decoding the Procurement Blueprint: Walk through the meticulous stages of procurement. Discover both its traditional essence and the modern twists that shape its trajectory today.

  • Balancing Ethics with Ambition: Dive deep into the moral compass of procurement. Explore why ethical considerations and social responsibility are not just buzzwords but essential pillars for any successful procurement strategy.

  • Financial Acumen in Procurement: Beyond merely obtaining resources, understand the financial intricacies. Grasp the nuances of smart budgeting, judicious spending, and the art of sealing a deal that's both beneficial and sustainable.

This course aspires to be your compass in the vast ocean of procurement management, guiding professionals with a thirst for excellence. Procurement is a realm of challenges, nuances, and immense rewards. Are you prepared to master its depths and soar to new professional heights? Dive in, and let's embark on this transformative journey together!

  • 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"
(768 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: The Procurement and Supply Manager's Desk Reference; Procurement, Principles and Management 11th Edition ; Understand your role in procurement management 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: 4 Ways to Improve Your Strategic Thinking Skills; Improving Communication Skills in Your Work and Personal Relationships; competencies for procurement professionals 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: The importance of ethical procurement in modern business; Ethical Issues in Procurement Management; Ethics in Procurement – Simple, but Not Always Easy 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: The Traditional Purchasing Process; Strategic Sourcing Versus Procurement; Definition of strategic sourcing 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: Types of Inventory Strategies; Inventory monitoring: Several money-saving tips; A Beginner's Guide to Inventory Management 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
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
Course Title: Procurement Management
Course Number: 9770504
Lessons Rating: 4.8 / 5 Stars (768 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, Texas, and Washington.
Last Updated: October 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: $120.00 U.S. dollars

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