What You'll Learn
- Introduction to Procurement, Sourcing, Supply Chains
- Planning
- Procurement Processes
- Procedure of Procurement
- Focuses of work
Requirements
- For a better learning experience, we suggest you to use a laptop / mobile phone / pen and paper for taking notes, highlighting important points, and making summaries to reinforce your learning.
Who This Course is For
- No special requirements. A course for anyone who wants to build career in Procurement, Sourcing, Supply Chains
- Procurement: The overarching process of acquiring goods and services that a company needs for its operations. It goes beyond simply buying things; procurement covers: Identifying needs Finding suppliers Negotiating contracts Ordering Receiving goods/services Payment processing Managing supplier relationships
- Sourcing:Â A strategic part of procurement. It focuses on: Researching the market to find potential suppliers Evaluating suppliers based on cost, quality, reliability, sustainability, and risk factors Selecting the best suppliers for the business's specific needs
- Why is Learning Procurement and Sourcing Important for Companies and Managers? Cost Savings: Effective procurement and sourcing finds the best value for money. This directly impacts the company's bottom line. Efficiency: Streamlined processes in procurement avoid delays and bottlenecks in a company's operations. Risk Mitigation: Thorough sourcing helps identify potential risks (like supply disruptions) and proactively manage them. Competitive Advantage: Strong supplier relationships and access to quality materials or services can give companies an edge in the market. Innovation: Sourcing can help uncover new technologies, materials, or processes that boost a company's offerings.
- How Procurement and Sourcing Skills Build Global Careers High Demand: Companies worldwide of all sizes need individuals who understand how to source and procure effectively. Transferable Skills: The fundamentals of procurement and sourcing apply across industries and countries. Cross-Functional Collaboration: Procurement interacts with many departments (finance, operations, legal), giving a broad view of how businesses function globally. Growth Potential: As globalization increases, the need for professionals who understand the complexities of international procurement and supply chains will rise.
Your Instructor
MTF Institute of Management, Technology and Finance
Institute of Management, Technology and Finance
4.3 Instructor Rating
94,598 Reviews
927,358 Students
273 Courses
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