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Learn the principles and strategies involved in purchasing and materials management, sourcing & procurement to inventory
Welcome to the comprehensive online course on Purchasing and Materials Management! In today's global business environment, effective procurement and materials management are essential for organisations to thrive and remain competitive. This course has been meticulously designed to equip you with the knowledge and skills needed to excel in this critical field.
This comprehensive course provides an in-depth understanding of the principles and strategies involved in purchasing and materials management. From sourcing and procurement to inventory control and supplier management, you will learn the essential skills needed to successfully manage the purchasing and materials function in any organization.
Master the strategic sourcing process
Optimize inventory levels and control costs
Develop effective supplier relationship management
Implement best practices in procurement
Apply industry-standard techniques in materials management
Learning Outcome 1
Understand the fundamentals of purchasing and materials management, including key concepts, strategies, and principles.
Learning Outcome 2
Learn how to analyze suppliers, evaluate their capabilities, negotiate contracts, and develop strategic relationships.
Learning Outcome 3
Gain insights into inventory management techniques, demand forecasting, and JIT (Just-in-Time) inventory systems.
Learning Outcome 4
Explore cost reduction strategies, value analysis, and total cost of ownership (TCO) concepts to improve purchasing efficiency.
Learning Outcome 5
Discover the role of technology and information systems in streamlining purchasing and materials management processes.
Take the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your purchasing and materials management capabilities, increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.
This online course consists of a combination of video lectures, reading materials, quizzes, assignments, and discussions. You will have access to a dedicated learning platform where you can interact with instructors and fellow participants. Additionally, real-world case studies and practical exercises will help you apply your knowledge to real-life scenarios.
Who Should Enroll?
· Procurement professionals seeking to enhance their skills and advance their careers
· Supply chain and logistics managers
· Small business owners and entrepreneurs looking to optimize their procurement processes
· Students and recent graduates interested in pursuing a career in procurement and materials management
By the end of this course, you will have the expertise needed to excel in the field of Purchasing and Materials Management, whether you are a seasoned professional or just starting your career. Join us on this educational journey and gain a competitive edge in the dynamic world of procurement. Enroll now and take the first step towards becoming a procurement and materials management expert!
With this course as your guide, you learn how to:
All the basic functions and skills required for purchasing management skills.
Transform purchasing and materials management knowledge and how information system can be used for managing retail marketing stores in an efficient way for the current retail business climate.
Get access to recommended templates and formats for the detail’s information related to retail management.
Learn useful case studies, understanding the customers, retail strategy, , enhancing decision making related to store site selections and store operations and profitability with useful forms and frameworks
Invest in yourself today and reap the benefits for years to come
The Frameworks of the Course
Purchasing and materials management will help you to understand and how it should get maintained and managed accordingly to the functions in related to the acceptance of sampling plan. This video will also help to understand the details related to vendor process capabilities and materials handling, Standardisation, simplification and variety reduction, its various challenges related to the value analysis and engineering that will help to understand the appraisal methods for buying capital equipment. Price Determination and the negotiations, objectives of the planning and its related information to the negotiations including processes and its skills for maintaining successful negotiating. Vendor rating, selection and development and its process. Public purchasing and international purchasing. Law of agency and the law of sale of goods.
The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your Purchasing and materials management in details.
In the first part of the course, you’ll learn the most Purchasing and materials management, Its relation to introduction to purchase and materials management. Materials requirement planning and JIT. Quality Inspection and how it is related to the materials management. Acceptance sampling plan.
In the middle part of the course, you’ll learn how to develop a knowledge of vendor process capabilities and materials handling. Standardisation, simplification and variety reduction. Value analysis and engineering. You will get a knowledge on appraisal methods for buying capital equipment and Material Logistics and warehouse management.
In the final part of the course, you’ll develop the price determination and negotiation vendor rating, selection and development. Public purchasing and tendering & International purchasing. . You will get full support and all your quarries would be answered guaranteed within 48 hours.
Introduction and Study Plan
· Introduction and know your Instructor
· Study Plan and Structure of the Course
1. Introduction to Purchasing and Materials Management.
1.2. Purchasing Management
1.3. Important of Purchase Management.
1.4. Purchasing Activities.
1.5. Types of purchase
1.6. Purchasing Cycle
1.7. Characteristics of a Purchasing Manager.
1.8. Materials Management.
1.9. Classification of manufacturing materials.
1.10. Objectives of the materials management Department.
1.11. Relationship between Materials management department and other departments.
1.12. Risks to be considered by Purchase Material Manager.
2. Material Requirements planning and JIT.
2.1. Introduction- Materials Requirement Planning.
2.2. Basic Characteristics of MRP.
2.6. Pre-requisites of JIT Implementations.
3. Quality Inspection and How it is related to the Materials Management.
3.2. Broad Objectives of the Quality inspection.
3.3. Responsibilities of the Receiving and stores.
3.4. Stages of Quality Inspection.
3.5. Receiving and Incoming Quality Inspection.
3.6. Importance of receiving and Incoming quality inspection.
3.7. Check-Lists for receiving and Incoming Materials and Parts.
3.8. Inspecting a Shipment.
3.9. Inspection of Goods at receiving and in Manufacturing System.
3.10. Methods of Inspection.
4. Acceptance sampling plans.
4.2. Acceptance Sampling- Brief History
4.3. Acceptance Sampling – Definition.
4.4. Acceptance Sampling Procedure.
4.5. Role of Acceptance Sampling.
4.6. Acceptance Sampling plan.
4.7. Types of Acceptance sampling plans.
4.8. Type I and Type II Errors.
4.9. Advantages of Acceptance sampling.
4.10. Disadvantages of Acceptance Sampling.
4.11. The Operating Characteristics (OC) Curve.
5. Vendor process capability and Material Handling
5.1. Introduction to process capability.
5.2. Concept of Process.
5.3. Concept of Process capability.
5.4. Handling the vendor process capability.
5.5. Advantages of Vendor Process capability.
5.6. Introduction to Materials Handling.
5.7. Scope of Materials Handling.
5.8. Material- Handling- Definition.
5.9. Objectives of Materials Handling.
5.10. Material Handling costs.
5.11. Types of Material Handling.
6. Standardisation, Simplification and Variety Reduction.
6.3. Standardised (Consistent Process) versus Non- Standardised (Inconsistent Process).
6.4. Process for creating Standardised work.
6.5. International Standards from ISO.
6.6. Benefits of Standardisation.
6.7. Limitations of Standardisation
6.8. Standardisation as Winning Strategy.
6.10. Variety Reduction.
7. Value Analysis and Engineering.
7.2. A brief History.
7.3. Meaning of Value.
7.4. Meaning of Value analysis.
7.5. Difference between Value Analysis and Value Engineering.
7.6. Objectives of Value Analysis/Value Engineering.
7.7. Techniques of Value Analysis.
7.8. Value Analysis Process.
7.9. Benefits of Value Analysis/Value Engineering.
8. Appraisal methods for Buying capital equipment.
8.1.Introduction-Make or Buy Decisions.
8.2.Factors affecting Make or Buy Decisions.
8.3.Importance of Make or Buy Decisions.
8.4.Advantages of Make or Buy Strategy.
8.5.Reasons for Make Instead of Buy.
8.6.Risks involved in decisions “to make”
8.7.Reasons for buy instead of make.
9. Materials Logistics and Warehousing Management- Store Layout.
9.2. Meaning of Warehouse Management.
9.3. Warehouse Operations.
9.4. Warehouse Administration and Management of Store Floor.
9.5. Duties and Responsibilities of a store manager.
9.6. Store Maintenance.
9.7. Energy Management.
9.8. Benefits of Warehousing.
9.9. Warehouse Management System.
9.10. Benefits of Warehouse Management System.
10. Price Definition and Negotiation
10.2. Objectives of Pricing.
10.3. Factors influencing Pricing.
10.4. Types of Pricing Strategies.
10.5. Negotiation- Introduction.
10.6. Meaning of Negotiation.
10.7. Examples of Negotiation.
10.8. Types of Negotiations.
10.9. The process of Negotiation.
10.10. Skills for Successful Negotiating.
10.11. Obstacles to Negotiation.
11. Vendor rating, Selection and Development.
11.2. Vendor/Supplier Evaluation
11.3. Need for measuring Supplier Performance.
11.4. Categories of Suppliers.
11.5. Supplier evaluation and Selection process.
12. Public Purchasing and Tendering, & International Purchasing.
12.2. The Indian Contract act, 1872
12.3. Law of Agency
12.4. Law of Sale of Goods Act, 1930.