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Purchasing and Vendor Management 101


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Course Description

This concise course is designed to explore the institutional purchasing cycle for consumable materials, raw materials, spare parts, and capital assets. Additionally students will explore and develop a thorough understanding of the supplier/buyer relationship, the benefits of high-quality vendor management systems, and the pitfalls of poorly designed or implemented vendor management systems. Throughout this course we will focus in detail on the basic principles, procedures, and policies involved in the organizational function often referred to as Supply Chain Management.


We will explore the delicate balance and interrelationships between the Supply Chain Management function and other key functions within the organization, and discover how the distinct but often overlooked value proposition that a well engineered purchasing and vendor management system can deliver to an organizations bottom line. Specifically we will explore how vendor product quality can contribute to performance gains, and losses that can, and have made the difference between a healthy income statement and balance sheet and losses that can quickly add up and haunt an organization for several fiscal periods.

We will also investigate a variety of purchasing and vendor management philosophies, and discover a variety of management systems that can contribute to data driven purchasing and vendor management decisions that insure optimal performance of the Supply Chain Management function.

Upon completing this course the student will be able confidently make data driven purchasing decisions for their organization, understand how purchases and vendor relationships affect the entire organization, and deliver bottom line improvement through a much greater understanding of Purchasing and Vendor Management.
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  • Self-Paced
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  • 6 Months to Complete
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  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 
 
 
 
 
 
 
 

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Course Lessons

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Lesson 1: Purchasing and Vendor Management

When we consider the importance of a well-defined, well-engineered supply chain management function, the implications, organizationally, are widespread and certainly worth noting. 26 Total Points
  • Lesson 1 Video
  • Review Article: Managing Vendors and Suppliers
  • Complete Assignment: An Introduction
  • Complete: Lesson 1 Assignment
  • Complete: Lesson 1 Exam

Lesson 2: The Purchasing Process

In this lesson, the purchasing process is discussed. 25 Total Points
  • Lesson 2 Video
  • Review 3 Articles: Life-Cycle Cost Analysis; Purchasing Process; The Rise of Vendor Relationship Management
  • Complete: Lesson 2 Assignment
  • Complete: Lesson 2 Exam

Lesson 3: Vendor Relationship Management

This lesson will discuss how to monitor, maintain, and develop vendor relationships. 25 Total Points
  • Lesson 3 Video
  • Review Article: Vendor Relationship Management: Making the Customer King
  • Complete: Lesson 3 Assignment
  • Complete: Lesson 3 Exam

Lesson 4: Capital Purchases -- There's a Big Difference

Through this lesson, we will step through the purchasing process in a capital purchase scenario. 25 Total Points
  • Lesson 4 Video
  • Complete: Lesson 4 Assignment
  • Complete: Lesson 4 Exam

Lesson 5: Alternate Purchasing Methods

Blanket purchase orders typically offer easy access to preferred vendors, products, or services. 25 Total Points
  • Lesson 5 Video
  • Review Practice Worksheet: SCM-Lesson_5_-_Vendor_Evaluation_Ma.xlsx
  • Review 2 Articles: Capital Expenses; Capital Purchase Analysis
  • Complete: Lesson 5 Assignment
  • Complete: Lesson 5 Exam

Lesson 6: Continuous Improvement in Purchasing and Vendor Management

The supply chain management system within every organization, large and small, is full of opportunities to improve -- and then realize the benefits of those improvements. 39 Total Points
  • Lesson 6 Video
  • Review Article: Vendor evaluation analysis templates
  • Complete: Lesson 6 Assignment
  • Complete: Lesson 6 Exam

Lesson 7: Income Statement and Balance Sheet Consideration

The most important consideration in almost any purchase is the total cost of ownership (TCO), also referred to as the total life cycle cost. 44 Total Points
  • Lesson 7 Video
  • Take Poll: What is your opinion of this course?
  • Take Survey: Program Evaluation Follow-up Survey (End of Course)
  • Complete: Lesson 7 Exam
  • Complete: The Final Exam
209
Total Course Points

Additional Course Information

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Course Title: Purchasing and Vendor Management 101
Course Number: 8900268
Languages: English - United States, Canada and other English speaking countries
Category:
Course Type: Professional (Intermediate Level)
CEU Value: 0.4 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
Instructor: UniversalClass Staff Instructor
Syllabus: View Syllabus
Duration: Continuous: Enroll anytime!
Course Fee: $50.00 (no CEU Certification) || with CEU Certification: $75.00

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Learning Outcomes

By successfully completing this course, students will be able to:
  • Define what purchasing and vendor management is.
  • Describe the purchasing process.
  • Describe vendor relationship management.
  • Know alternate purchasing methods.
  • Describe the processes for continuous improvement in purchasing and vendor management.
  • Describe income statement and balance sheet considerations in purchasing and vendor management, and
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 
 

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