Procurement Management

Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success.   
To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement.
For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel.
What will you learn through your investment in these 6 hours of Lecture?

Item classification
Management Terminology.
Build vs Buy Decisions
Market conditions
State of supply chain.
Criteria for Supplier Selection
Methods for Supplier Evaluation
Work packages and work breakdown
Resource breakdown and resource calendar
Basics of Change Management
Understand the term contract
Types of contracting arrangements
Impact of Project environment and Organization type. 
Various purchase documents
Standard terms in procurement contracts
Limitation of Liability - Delivery terms; Incoterms. 
Identifying and working with stakeholders
Preparing for procurement and documents
Procurement process and contract administration.
EVM - Earned Value Management
Basics of risk and business continuity
Systematic approach managing risks
Basics of Claims and Dispute Resolution
Closing and Termination of Procurement
Procurement Costs
Economic Order Quantity
SLA - Service Level Agreements
Re-ordering - Fixed Order Interval, Fixed Order Quantity
Working Capital
Business Cycle
Managing Working Capital

7Rs of Procurement
Also, with a quiz in each section -
total of 8 Quizzes
Who this course is for:
Entrepreneurs and Business Owners who directly engage in Procurement Process
Managers and Engineers who assist Procurement Managers in Operations
Managers and Engineers supporting Procurement in Projects
Engineering and Management Students seeking Career Oppurtuinity