Introducing Procurement and Supply L2M1 Course Overview

Course Prerequisites

Target Audience for Introducing Procurement and Supply

Introducing Procurement and Supply (L2M1) is a foundational course ideal for those new to or aspiring for a career in procurement, as well as business leaders.

Target Job Roles and Audience:

• Aspiring procurement professionals
• Entry-level procurement and supply chain staff
• Small business owners and entrepreneurs needing procurement understanding
• Managers from non-procurement fields
• Individuals interested in understanding supply chain processes
• Project managers involved in procurement activities
• Business leaders aiming to improve organizational efficiency through effective procurement
• Career changers seeking opportunities in procurement and supply chain management
• Business students or graduates seeking practical skills in procurement

Learning Objectives - What you will Learn in this Introducing Procurement and Supply?

Introduction to Course Learning Outcomes: This course offers a comprehensive introduction to procurement and supply, exploring key concepts such as supply chain components, procurement impact, sourcing processes, and ethical standards in procurement.

Learning Objectives and Outcomes:

• Understand the foundational terms and roles in procurement and supply including definitions related to procurement, purchasing, and supply chain management.
• Recognize the organizational role and benefits of procurement including cost management, value for money, and sustainability considerations.
• Identify components and global aspects of a supply chain, elucidating the relationships between suppliers, customers, and consumers.
• Assess the impact of effective procurement on organizational efficiency and profitability, understanding budget monitoring and total costs of ownership.
• Grasp the five rights of procurement (price, total cost, quality, timing, quantity, and place) essential for defining value for money.
• Understand the complete sourcing process from identifying needs, requesting and assessing quotations, to contract authorization and order placement.
• Demonstrate knowledge of effective administration of procurement including the steps of forming agreements with suppliers, from requisition creation to tender assessment.
• Describe the procedural administration of awarding and post-award phases, including documentation handling and invoice management.
• Recognize the importance of ethical practices in procurement as outlined in the CIPS