Purchasing and Vendor Management 101

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Course Description

This 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 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.

Course Requirements

This course will not require you to have previous experience in any particular area but you should have a high school reading level. No books will be required.

Course Topics

Lesson 1: Purchasing and Vendor Management

Lesson 2: The Purchasing Process

Lesson 3: Vendor Relationship Management

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

Lesson 5: Alternate Purchasing Methods

Lesson 6: Continuous Improvement in Purchasing and Vendor Management

Lesson 7: Income Statement & Balance Sheet Consideration

Course Materials

All course material will be provided in the lessons and netlinks. There are no required materials to purchase before taking the class.

Grading Policy

Each lesson will include a lesson review quiz along with one or two assignments. Students will successfully complete this course by mastering all learning outcomes with 70% or higher overall grade.

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.

Assessment Guide

Assessment Points
An Introduction1
Lesson 1 Assignment15
Lesson 1 Exam10
Lesson 2 Assignment15
Lesson 2 Exam10
Lesson 3 Assignment15
Lesson 3 Exam10
Lesson 4 Assignment15
Lesson 4 Exam10
Lesson 5 Assignment15
Lesson 5 Exam10
Lesson 6 Assignment30
Lesson 6 Exam8
Lesson 7 Exam9
The Final Exam34
Total Points:207

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