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  3. Foundations of Purchasing: Principles and Practices

Foundations of Purchasing: Principles and Practices

This course is aimed at empowering participants with the necessary skills to manage purchasing activities effectively, forge strong supplier relationships, and contribute significantly to their organization's competitiveness and profitability.

Manish Gupta
Manish Gupta
Business | core | 1 hour |   Published: Jul 2024
In partnership with:  Coursera

    Discussions

Overview

1KSTUDENTS*
92.6%RECOMMEND*

This course includes:

  • 60 minutes of on-demand video  
  • Certificate of completion  
  • Direct access/chat with the instructor 
  • 100% self-paced online 
Effective supply chain is crucial for businesses to ensure consistent supply of raw materials and continuation of its value creation.   Dive deeper into the core of purchasing with this detailed course, designed to provide you with a foundational understanding of the key concepts, strategies, and practices. This course is aimed at empowering participants with the necessary skills to manage purchasing activities effectively, forge strong supplier relationships, and contribute significantly to their organization's competitiveness and profitability.   Through this course, learners will grasp the critical role of purchasing in organizational success and supply chain optimization, learn the principles of effective purchasing, supplier selection, and gain proficiency in negotiating, managing contracts, and ethical procurement practices. 

Skills You Will Gain

Contract Negotiation
Ethical Procurement
Purchasing Strategies
Supplier Relationships
Supply Chain Management

Learning Outcomes (At the end of this program you will be able to)

  • Describe the purchasing process and its strategic importance to organizations. 
  • Identify techniques for effective supplier evaluation, selection, and management. 
  • Apply basic negotiation strategies and contract management principles in purchasing. 
  • Apply knowledge of purchasing and supply chain management to real-world scenarios 

Prerequisites

Participants should have a basic understanding of business operations and supply chain fundamentals. Familiarity with procurement concepts and an interest in enhancing purchasing skills are recommended for optimal engagement with the course content.

Who Should Attend

New Purchasing Professionals, Business Owners, Managers, and anyone interested in understanding the basics of purchasing 

Curriculum

Instructors

Frequently Asked Questions

How much do the courses at Starweaver cost?

We offer flexible payment options to make learning accessible for everyone. With our Pay-As-You-Go plan, you can pay for each course individually. Alternatively, our Subscription-Based plan provides you with unlimited access to all courses for a monthly or yearly fee.

Do you offer any certifications upon completion of a course at Starweaver?

Yes, we do offer a certification upon completion of our course to showcase your newly acquired skills and expertise.

Does Starweaver offer any free courses or trials?

No, we don't offer any free courses, but we do offer 5-day trial only on our subscriptions-based plans.

Are Starweaver's courses designed for beginners or advanced students?

Our course is designed with three levels to cater to your learning needs - Core, Intermediate, and Advanced. You can choose the level that best suits your knowledge and skillset to enhance your learning experience.

What payment options are available for Starweaver courses?

We accept various payment methods such as major credit cards, PayPal, wire transfer, and company purchase orders. For more information related to payments contact customer support.

Do you offer refunds?

Yes, we do offer a 100% refund guarantee for our courses within a specified time frame. If you are not satisfied with the course, contact our customer support team to request a refund with your order details. Some restrictions may apply.

*Where courses have been offered multiple times, the “# Students” includes all students who have enrolled. The “%Recommended” shown is also based on this data.
1Module 1: Introduction to Purchasing
2Module 2: Supplier Selection and Management
3Module 3: Negotiation and Contract Management

Segment 05 - Supplier Evaluation and Selection 

Segment 06 - Building Strong Supplier Relationships – Practical tips 

Segment 07 - Ethical Procurement Practices – Real life case studies 

Segment 01 - Introduction and Welcome 

Segment 02 - The Role of Purchasing in Organizations

Segment 03 - Purchasing Process Overview – A Walkthrough of Case Study

Segment 04 - Strategic Sourcing with Practical Real World Examples

Segment 08 - Fundamentals of Negotiation – Demonstration of tips with an example 

Segment 09 - Contract Management – Technology and trends 

Segment 10 - Legal and Ethical Considerations

Segment 11 - Congratulations and Continuous Learning Journey

Manish Gupta

Manish Gupta

Manish is a seasoned finance and business management professional with over 15 years of experience in the hospitality industry. As the Chief Financial Officer at Htoo Hospitality, he oversees operations across six destinations and 15 hotels, managing an inventory of over 800 rooms and a workforce of 1,500+. In addition to his CFO responsibilities, he also serves as the acting CEO and head of business, leading strategic initiatives, financial planning, and the post-COVID reopening of key hotels. His expertise includes implementing ERP systems, financial planning processes, and data visualization tools to optimize hotel performance and efficiency.

A passionate advocate for learning and development, Manish is the founder of eHotel Management School, an online platform offering over 30 courses in hospitality management. With a global student base of over 100,000, his mission is to empower one million professionals in finance, business management, and technology. He has also authored a comprehensive guide on budgeting and forecasting principles for hospitality and collaborates with platforms like Coursera and Alison as an instructor. Through his work, he continues to drive innovation, lean management, and knowledge-sharing in the hospitality sector, equipping professionals with the skills needed to thrive in a dynamic industry.

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