Mastering Purchasing Fundamentals
Contact Hours: 8
If you are new to purchasing, are you ready for the many challenges you'll face in the months ahead? The
highly personal and interactive online class
"" walks you through the purchasing process step-by-step. You'll be ready for these challenges. And you won't need the years of experience usually required to learn how to deal with these challenges. You'll get more than just an introduction to purchasing - you will become an expert at flawlessly executing and managing purchases.
Frequently Asked Questions
How long will it take me to complete the course?
The amount of time it takes to complete the course is dependent upon the time you are able to spend in study. Each lesson takes approximately 30-60 minutes to complete and the course is comprised of 8 lessons. Students generally complete the course in 4-8 hours
Will I be able to work at my own pace?
Yes. The online format of the instruction method allows you to proceed according to your own pace. Your personal schedule governs your completion time. The material is available on demand online.
Are there any required books for the course?
No. The course is completely online and you will also receive a printer-friendly version of the course. This are included at no additional cost to you.
Can I assess what I have learned?
Yes. Each lesson has a review quiz. From there you will be able to determine if you understood the concepts or if you still need to review the materials further. You will need to score 70% or higher overall on the quizzes to successfully complete the course.
You will learn how to make the many decisions necessary to identify the best potential suppliers, plus…
How to most effectively prioritize requisitions
How to decide when to use competitive bidding, negotiation, or both
How to successfully conduct competitive bidding using solicitation tools such as RFP's and RFQ's
How to use financial and operational analysis to select suppliers with not only the best monetary offer, but also the least risk of failure
How to determine whether a contract, purchase order, or other method of ordering is best for a certain purchase
How to use follow up techniques to ensure supplier compliance
How to close out a transaction with confidence
How to think like a purchasing manager
How to prepare for the future of purchasing
Evaluation of your performance will be based on...
Eight (8) Individual lesson quizzes consisting of 5 questions each for a total of 40 questions
You must earn a 70% (or 28 out of 40 questions correct) or higher in order to successfully pass the course. You must earn a 70% or higher in order to successfully pass this course (28 out of 40 questions correct). Students may retake quizzes an unlimited amount of times during the 60 days they have from the time of purchase.
Determining A Need
Communicating & Reviewing The Need
Finding Potential Suppliers
Conducting Bidding And/Or Negotiation
Selecting A Supplier
Formalizing The Commitment
Following Up & Closing Out The Transaction
Big Picture Issues