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302, 2021

Expert Procurement Operations Management

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Are you a purchasing manager who worries about balancing the many demands of your leadership role? You’re not alone. Today’s companies are expecting more than ever from their purchasing managers. And today’s environment is confronting purchasing managers with more challenges than ever. Between being accountable for measurable results, pleasing internal customers, and ensuring that your purchasing staff improves its productivity, you may feel it is impossible to do a good job. After all, it isn’t easy keeping up with evolving best practices, new technologies, and changing markets.

But fortunately, there is a way for you to learn how to meet and exceed today’s high standards for purchasing management excellence. Expert Procurement Operations Management will teach you everything you need to know to lead your purchasing department to new levels of success! Upon completing this course, you will be able to:

  • Report purchasing performance metrics to senior management
  • Develop a purchasing customer service survey
  • Improve purchasing staff productivity
  • Establish a successful Purchasing Advisory Board
  • Prioritize commodities that the purchasing department will source
  • Identify four indicators that you should look for to identify non-traditional areas for potential savings
  • Understand the types of various purchasing profit center models and the dangers of choosing the wrong one
  • Staff your purchasing department with the right people and assign buyer responsibilities
  • Create a Purchasing Dashboard and set the perfect purchasing department goals
  • Develop purchasing policies and procedures
  • Establish a standard sourcing process
  • Apply strategies for using templates to improve productivity and reduce problems
  • Apply best practices for making recommendations to senior management
  • Reduce the tactical purchasing activity under your management
  • Improve compliance with purchasing initiatives

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 CEHs.

302, 2021

Improving Quality in the Supply Chain

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Let’s face it: your organization cannot provide a high-quality product or service if it gets substandard quality products or services from your supply chain. If quality is so strategically important and procurement activity contributes heavily to quality, supply chain quality improvement should be one of your top priorities and core competencies. As a modern procurement professional, you need to quickly get up to speed on quality improvement practices.

Improving Quality in the Supply Chain will teach you the quality assurance practices necessary to interact with quality professionals and engineers in your organization and at suppliers so that your organization can have the quality advantage that it needs to succeed. Upon completing this course, you will be able to:

  • Lead your organization through the four phases of a supply chain quality improvement program
  • Apply the critical requirements for starting a supply chain quality improvement program
  • Calculate the cost of poor quality and use it in your sourcing decisions
  • Measure supply chain quality performance, including benchmarks for leading-edge quality
  • Observe and interview suppliers to learn about their quality programs
  • Evaluate and structure inspection programs, including disadvantages of inspections as a quality assurance method, determining sample sizes, and estimating probabilities of accepting defective goods
  • Understand quality assurance terminologies, such as parts per million (ppm), AQL, and more
  • Apply quality assurance statistics and process capability indices to evaluate suppliers’ quality capabilities
  • Apply Statistical Process Control and control charts in working on quality programs with your suppliers
  • Understand what ISO9001 is, what it is not, and why it matters to a supply chain professional like you
  • Understand how quality improvement programs like Lean, Six Sigma, and Lean Six Sigma can be used in your supply chain
  • Apply quality principles and tools like value stream mapping, the “Five S’s of Lean,” process mapping, Ishikawa/fishbone diagrams, failure mode effect analysis, and Poka-Yoke to supply chain quality improvement programs

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 CEHs.

302, 2021

Finance for Strategic Procurement (Advanced)

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Whether you are selecting a supplier, negotiating payment terms, comparing lease and buy options, or making other typical procurement decisions, there are finance-based approaches that CEOs and CFOs will expect you to be following. Finance For Strategic Procurement (Advanced) will help you apply to your procurement decisions the same financial approaches that CFOs will use to evaluate those decisions. As a result, your decisions will be respected and many potential mistakes will be avoided. Upon completing this course, you will be able to:

  • Calculate the financial impact of changed payment terms
  • Understand the financial implications of using P-cards
  • Avoid payment pitfalls, such as those involving approval problems and overpayments
  • Understand how purchases are justified by finance executives
  • Understand how the time value of money concept should factor into procurement decisions
  • Make repair vs. replace decisions
  • Make lease vs. buy decisions
  • Understand how budgeting works for a procurement department’s internal customers
  • Apply costing principles that apply to procurement
  • Evaluate suppliers’ financial health using comparative financial statements, ratio analysis, and the Altman Z-Score
  • Understand the importance of audited supplier financial statements, including alternatives to auditing

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 CEHs.

302, 2021

Finance for Strategic Procurement (Fundamentals)

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Today’s CEOs and CFOs expect procurement professionals to know how their work supports corporate goals and how to communicate in the language of finance. Finance For Strategic Procurement (Fundamentals) will help you understand the ways that executives measure business performance and will help you apply this knowledge specifically to your procurement work.

This online course is part of the two-part Finance For Strategic Procurement Series. Part I focuses on understanding financial statements and measuring and communicating a procurement department’s contribution to the organization. Part II focuses on how financial decisions are made and evaluating supplier health. Upon completing this course, you will be able to:

  • Understand the standards that apply to financial reporting
  • Create, update, and understand financial statements such as the income statement, balance sheet, and cash flow statement
  • Apply accounting concepts related to inventory, including the goals sought by senior management and how a procurement department can contribute
  • Understand how negotiated discounts and freight charges are accounted for
  • Understand the difference between direct and indirect expenses
  • Understand how buying or selling on credit terms impact financial statements
  • Calculate both straight-line and accelerated depreciation
  • Understand the financial implications of buying and maintaining capital assets
  • Expertly manage working capital and improve cash flow through smart supply chain management
  • Select appropriate payment terms, taking various cash cycles into consideration
  • Measure a procurement department’s contribution to the organization’s financial performance, including calculating cost savings and reconciling it with changes in expenses as reported on financial statements
  • Apply advanced cost savings reporting concepts, including reporting savings for mid-year deals and contracts where the volume and composition of the agreement changes

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 CEHs.

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