Course Description

Unlock the Power of Effective Supply Chain Management: A Comprehensive Guide to Purchasing and Vendor Relations

In the dynamic realm of today's business world, the function of Supply Chain Management (SCM) plays a pivotal role in steering the economic ship of many organizations. At the heart of this intricate network lies the institutional purchasing cycle—a sophisticated dance of acquiring consumable materials, raw materials, spare parts, and capital assets. This expansive course delves deep into the nuances of this cycle, offering participants a holistic view of the intricate cogs that power the supply chain machinery.

One of the central themes we'll unravel is the intricate tapestry of supplier/buyer relationships. These relationships, when harnessed correctly, can become a bedrock of organizational success. However, like any crucial partnership, it demands a keen understanding of the balance between rights and responsibilities, opportunities and pitfalls. We'll illuminate the unparalleled advantages of proficient vendor management systems while simultaneously spotlighting the hazards of systems that miss the mark.

As we venture deeper into the course, participants will gain insights into the symbiotic relationship between SCM and other pivotal organizational functions. This exploration will underscore the hidden value proposition that a meticulously crafted purchasing and vendor management system can infuse into an enterprise's financial health. Using real-world case studies, we'll dissect how variations in vendor product quality have historically influenced both monumental performance gains and debilitating losses—instances that can make or break an organization's financial trajectory for multiple fiscal periods.

Furthermore, the course will offer a panoramic view of diverse purchasing and vendor management philosophies. This panoramic lens will allow participants to appreciate the myriad management systems available, helping them harness tools that promote data-driven decisions. These decisions, in turn, can catalyze the optimal functioning of the SCM realm.

But what's the endgame? Upon culmination, participants won't just be passive recipients of knowledge; they'll emerge as empowered decision-makers. Equipped with a robust toolkit, they'll be poised to make data-driven purchasing decisions with conviction. They'll possess an enriched understanding of how their choices in purchasing and vendor affiliations ripple through the organization's very fabric. Most importantly, they'll be champions of change, driving bottom-line enhancements through their sharpened expertise in Purchasing and Vendor Management.

Join us on this enlightening journey and redefine your organization's purchasing prowess, ensuring that every link in your supply chain not only holds but thrives.

  • 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
 

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.
  • Summarize 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.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 
 

Assessment Guide

Assessment Points
An Introduction 1 points
Lesson 1 Assignment 15 points
Lesson 1 Exam 10 points
Lesson 2 Assignment 15 points
Lesson 2 Exam 10 points
Lesson 3 Assignment 15 points
Lesson 3 Exam 10 points
Lesson 4 Assignment 15 points
Lesson 4 Exam 10 points
Lesson 5 Assignment 15 points
Lesson 5 Exam 10 points
Lesson 6 Assignment 30 points
Lesson 6 Exam 8 points
Lesson 7 Exam 9 points
The Final Exam 34 points
Event Management Course Bundle
Event Management Course Bundle
Secretary Courses
Secretary Courses
The Art of Setting Goals
The Art of Setting Goals
Sustainable Development for Business
Sustainable Development for Business
The Fundamentals of Accounting
The Fundamentals of Accounting
Trading Strategies and Systems
Trading Strategies and Systems
Microsoft Excel Courses
Microsoft Excel Courses
How to Purchase and Enter Inventory in QuickBooks Online
How to Purchase and Enter Inventory in QuickBooks Online
Business Ethics Courses
Business Ethics Courses
Software Used for Payroll Management
Software Used for Payroll Management
Personal Finance Courses
Personal Finance Courses
Writing Help Course Bundle
Writing Help Course Bundle
Project Management Courses
Project Management Courses
Ultimate Secretary Training Bundle
Ultimate Secretary Training Bundle
QuickBooks Courses
QuickBooks Courses
How to Make Journal Entries in QuickBooks Online
How to Make Journal Entries in QuickBooks Online
Operations Management Courses
Operations Management Courses
Writing Effective Emails in the Workplace
Writing Effective Emails in the Workplace
Community Development History in America
Community Development History in America
Team Management Courses
Team Management Courses