Certified Purchasing Manager Course

Why Select this Training Course?

Purchasing managers are accountable for controlling and supervising the procurement operations. In this position, their responsibility is to guarantee that a company procures the essential goods and services at the appropriate level of quality, quantity, and pricing. Purchasing managers work together with suppliers to negotiate contracts and assess vendor performance in order to enhance the Procurement process. They engage in the examination of market patterns, oversee the amounts of available goods, and work with other departments to ensure that procurement plans are in line with the organisation’s overarching objectives. Purchasing managers must possess a range of skills, such as proficient negotiation skills, analytical thinking, effective communication abilities, and a comprehensive knowledge of the items and services that their organisation needs.

This Rcademy Certified Purchasing Manager Course will provide you with comprehensive information and expertise in purchasing management and cost-saving strategies to enhance the cost performance of the organisation, leading to increased profits and business growth. By enrolling in this course, you will have a significant impact on cost reduction for your organisation, leading to increased profits and substantial contributions to both the organisation’s growth and your own career advancement in terms of higher positions and greater responsibilities.

Is purchasing part of accounting?

Purchasing is the act of obtaining products and services from external sources. The process has multiple stages, including determining the required goods or services, selecting suppliers, engaging in contract negotiations, and overseeing the supplier relationship. Purchasing is crucial in accounting as it guarantees that an organisation possesses the necessary resources to operate effectively. Seeking methods to economise, engaging in negotiations with suppliers to secure advantageous agreements, and ensuring that acquisitions are made at the most affordable price feasible.

Who does the purchasing manager report to?

Within expansive enterprises, the purchasing manager assumes the role of overseeing a group comprised of procurement agents and specialists. Frequently, the position is accountable to a chief procurement officer (CPO). However, in small- and medium-sized organisations, the procurement manager is typically a lone department. In this scenario, their usual reporting line is to the Chief Operations Officer or Chief Finance Officer. Irrespective of their size, procurement teams must collaborate closely with the finance, operations, and legal departments. The primary objective of a procurement manager is to effectively oversee the expenditure of an organisation by optimising the value obtained from vendors and minimising potential risks. Naturally, procurement managers employ numerous methods and processes to achieve that objective.

Who Should Attend?

This Rcademy Certified Purchasing Manager Course is designed for sales and manufacturing professionals such as:

• Financial advisers who offer expert guidance on the procurement decisions of a business.
• Senior executivesaccountable for making crucial choices regarding expenses.
• Account managers and supervisors responsible for managing the organisation’s accounts and money.
• Managers and supervisorswho have the authority to implement modifications in their departmental procedures in order to reduce expenses.
• Internal and external auditors tasked with ensuring that improved procedures also comply with industry standards and benchmarks.
• Any other professional seeking to gain knowledge about procurement management and strategies for reducing costs.

What are the Course Objectives?

The core objectives of this Rcademy Certified Purchasing Manager Course are to equip professionals with the essential skills and knowledge to:

• Gather a comprehensive understanding and expertise in purchasing management and cost-saving measures.
• Obtain the expertise and talents necessary to effectively utilise technology and implement streamlined procedures inside the company.
• Gain self-assurance and practical skills necessary to assume more advanced positions.
• Elevate self-assurance and comprehension, and enhance earnings.
• Improve proficiency and ability to oversee procurement and implement optimal automation for efficient operations.
• Enhance self-assurance and expertise to instruct fellow professionals on effective procurement management and optimal cost-reduction strategies.
• Develop an expanded range of skills and abilities to effectively handle more advanced tasks and responsibilities in buying management.
• Expand their knowledge and comprehension to develop accurate criteria for evaluating and monitoring performance.

How will this Course be Presented?

This Rcademy Certified Purchasing Manager Course is designed to cater to participants’ needs and help them enhance their skills and knowledge in security threat, risk, and vulnerability assessment. We will use various methods and strategies to ensure that students are active in the training. This course will be taught by highly knowledgeable professionals who have extensive practical experience in the field. The modules are created based on thorough research on the subject.

This Rcademy Certified Purchasing Manager Course offers a comprehensive approach to understanding security threats, risks, and vulnerabilities. It includes both theoretical and practical learning materials such as lecture notes, real-life scenarios and slides. Participants will take part in several activities such as presentations, quizzes, seminar workshops, and receive regular feedback on the lessons to assess their level of satisfaction.

What are the Topics Covered in this Course?

Module 1: Purchasing Cycle

• Concepts of supply chain management
• The purchasing cycle
• Toolkit for purchase
• Streamlining the process of handling competitive bids
• Enhancing productivity and precision

Module 2: Objectives of Purchasing Management

• Minimise your expenses
• Create products and suppliers
• Establish strong relationships with suppliers
• Train and develop employees
• Maintain accurate and current records
• Help enhance the product
• Prevent situations where products are unavailable
• Create policies and procedures

Module 3: Stages of Purchasing Management

• Identification of necessity
• Choosing an appropriate source
• Price and availability determination
• Preparation and sending of purchase order
• Confirmation of purchase order
• Subsequent action by the procurement department
• Verification and authorisation of invoice for payment

Module 4: Supply Chain

• What is a supply chain?
• Understanding a supply chain
• Main supply chain models
• Best practices in supply chain management
• Supply chain management vs. business logistics management
• Flow of manufacturing costs
• Supply chain and deflation
• Steps in a supply chain

Module 5: Proactive and Reactive Procurement

• What is proactive procurement?
• Benefits of proactive procurement
• Developing procurement strategies aligned with organisational goals
• Supplier relationship management (SRM)
• Cost analysis and Total Cost of Ownership (TCO)
• Just-in-Time (JIT) and lean procurement practices
• Managing risks in procurement

Module 6: Inventory

• What is inventory?
• Types of inventory
• Major players in inventory
• Setting up the warehouse
• Factors that contribute to an effective inventory management system?
• Inventory control and purchase management

Module 7: Global Sourcing

• What is global sourcing?
• Types of global sourcing
• Domestic purchasing
• International procurement
• International sourcing
• Integrated global sourcing strategy
• Centralised procurement across global locations
• Benefits of a global sourcing strategy
• Challenges in global sourcing
• Steps to a successful global sourcing strategy

Module 8:  Supplier Selection and Negotiation

• Methods for identifying and evaluating suppliers
• Vendor qualification and assessment
• Strategies and approaches for conducting negotiations
• Essential principles of contract management
• Establishing environmentally friendly connections with suppliers

Module 9: Procurement Process Optimisation

• Common problems that affect the procurement process
• Poor communication
• Difficulty tracking contracts
• Inaccurate data
• Procurement bypass
• Outdated technology
• Problematic suppliers
• Centralised procurement
• Faulty technology
• Inefficient processes
• Procurement process
• Identify the company’s requirements for goods and services
• Submit a purchase request
• Examine the requisition package
• Seek out the most exceptional vendors
• Analyse the leading providers’ performance
• Engage in contract negotiations
• Oversee and handle customer orders

Module 10: Emerging Trends and Technologies 

• Use of blockchain in purchase order management
• Cloud-based solutions
• Use of digital tools to optimise procurement
• Use of collaborative platforms to reduce manual tasks
• Increased focus on sustainability
• Agile supplier management
• AI and automation application
• Compliance
• Virtual purchasing management