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Fundamentals of Purchasing for the New Buyer

Fee:

$2,345

· QuickCode:

QQAJLZ

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*When registering by phone, use Priority Code: XNNT

Provider:
AMA (American Management Association International)

Topic(s):
Purchasing/Procurement

Who Should Attend?
Buyers in service, manufacturing, health care or office purchasing

Full Seminar Description

Increase your company’s savings through better purchasing management—and increase your chances for success.

Walk through every step of the purchasing management process, including,negotiating and vendor and materials management. Find innovative ways to manage your suppliers so they deliver quality products and services on time and within your budget…learn how e-procurement can help you save money and exploit sales opportunities…and understand the legal aspects of purchasing management.

Who Should Attend

Buyers in service, manufacturing, health care or office purchasing agents.

HOW YOU WILL BENEFIT:

• Become a more efficient and productive buyer through applying the techniques of purchasing management
• Improve the services provided by your suppliers through more effective negotiations and planning
• Understand the ethical/legal aspects of purchasing and its possible liabilities
• Find out how to select and qualify suppliers

WHAT YOU WILL COVER:

How Purchasing Management Adds Value to the Firm

• The purchasing cycle
• Key criteria used to measure a buyer’s performance
• Cost reduction
• Purchasing management policies, procedures, controls and standards

Supplier Relations

• Requisition and purchasing policies
• Solicitation process: why various types of solicitation are used
• How to qualify and pre-select suppliers
• Assess the risk in doing business with a supplier

Price, Cost and Total Cost of Ownership

• Assess competitive market pricing
• Attain a better negotiating position through cost analysis
• How to identify hidden costs and make better buying decisions

Specialized Purchasing Management Tools

• Pareto analysis
• Applying JIT to purchasing
• E-commerce and its current purchasing management applications
• International commercial terms and global sourcing implications

The Legal Aspects of Buying and Selling

• Federal laws that affect purchasing
• The Uniform Commercial Code (UCC)
• Contract law and warranties
• Transfer of title and the risk implied

Purchase Agreements and Contracting Methods

• Blanket orders, blanket purchasing agreements, master purchasing agreements
• National, system and option contracts
• Purchasing/procurement card
• Service contracts

Negotiating Skills for the New Buyer: Conducting a Win-Win Negotiation

• Learn the nature and scope of negotiations in purchasing management
• Understand the difference between strategy and tactics in negotiations

Extended Description

• Become a More Efficient and Productive Buyer
• Save Your Company Money through Better Purchasing Techniques
• Improve the Services Provided by Your Suppliers through More Effective Negotiations and Planning
• Understand Ethical/Legal Aspects and the Liabilities of Purchasing within the Law
• Find Out How to Select and Qualify Suppliers

The Buyer’s Role in Today’s Purchasing Organization

• Learn How Purchasing Adds Value to the Firm
• Define the Supply Chain and the Buyer’s Role in Supply Management
• Define the Purchasing Cycle
• Learn Key Criteria Used to Measure Buyer’s Performance
• Learn about Cross-Functional Teams and Purchasing

Managing the Supplier Base and Relationships

• Review the Buyer’s Responsibility in Managing the Purchasing Process and How It Supports the Purchasing Cycle
• Understand How to Obtain Purchase Description or Specification Information
• Learn the Importance of Assessing Aspects of a Supplier’s Capabilities and the Use of Supplier Evaluation Criteria
• Learn How to Assess Risk in Doing Business with a Supplier by Analyzing a Financial Statement from a Hypothetical Supplier
• Learn How Acceptable Sources of Supply Are Found in the Marketplace
• Learn How to Develop, Solicit, Qualify and Preselect Suppliers
• Learn How a Buyer Expands His/Her Knowledge Base of Suppliers to Become a Better Buyer to the Firm

Managing Effective Procurement Decisions: Applying Price, Cost, Value

• Learn How to Perform a Price Analysis to Assess Competitive Market Pricing
• Learn How to Perform a Cost Analysis and Calculate a Target Cost to Be in a Position to Negotiate with a Supplier
• Define an Internal Cost Estimate and a Supplier’s Cost Breakdown Structure
• Understand the Application of Learning Curves, Life Cycle Costing, and Value Analysis in Price/Cost Analysis
• Review and Define the Techniques of Leasing, Renting, and Outsourcing
• Learn about Total Cost of Ownership and How Hidden Costs Are Identified to Make Better Buying Decisions for the Firm

Tools for Enhancing Material and Product Flow

• Learn How ABC Analysis Is Used to Make Informed Purchasing Decisions
• Understand How Domestic Freight Terms and Inbound Freight Control Is Used to Improve the Total Value Provided to a Firm by a Supplier
• Learn about the Techniques Used to Make Informed Decisions on Inventory
• Learn How the Concepts of Inventory Turns and JIT Can Be Applied to Purchasing
• Review the Most Common INCOTERMS and Their Meaning for International Sourcing
• Understand How Global Sourcing Requires Additional Knowledge to Understand Supplier Selection, Payment, and Risk Implications

Understanding Specialized Purchasing Instruments and Contracting Methods

• Learn about the Types of Contracts and Agreements Used in Purchasing
• Review the Basic Parts of a Contract and a Contract Planning Checklist
• Define the Blanket Agreement and the Trading Partner Agreement
• Learn about How Blanket Orders, Blanket Purchase Agreements, Master Agreements, System Contracts, and Option Agreements Are Used and How They Limit the Risk of Doing Business
• Understand the Usage of Purchasing/Procurement Credit Cards and Appropriate Policies for Their Implementation
• Review the Services Contracting Process and the Guidelines for Service Contract Supplier Selection, Agreement Provisions, and Administration
• Understand the Application of EDI and Electronic Commerce in the Purchasing Cycle

Professional Practices

• Walking the Line between Ethical and Illegal
• Questionable Practice in Purchasing
• Importance of the Uniform Commercial Code
• Federal Laws That Affect Purchasing
• Contract Law and How Contracts Are Formed
• Warranties and the Protection That They Give Buyers
• Breach of Contract and the Remedies to Breach

Negotiating Skills for the Buyer

• Learn the Nature and Scope of Negotiations in Purchasing
• Understand the Difference between Strategy and Tactics in Negotiations
• Define Win-Win, Objective Setting, Deadline, and Authority Level
• Learn about the Crucial Elements of Negotiation
• Learn How to Prepare and Plan for Negotiations
• Learn How Negotiation Strategy, Tactics and Counter-Tactics Are Used

Sponsor Background:

• provide comprehensive, hands-on training that is of practical use when you return to the job
• focus on need-to-know specifics, relevant to the demands of global business today
• offer the expertise and personalized attention of top-ranking instructors
• facilitate your career development and business savvy

Whether you're looking for a solid foundation of business fundamentals or strategies to help you seize growth opportunities for your company, AMA offers expert instruction to help you:

• manage your priorities effectively
• cultivate more productive working relationships
• increase your on-the-job value
• align your skills with marketplace demands
• bring out the best in people, processes and yourself

Cancellation and Refund Policy

If you cannot attend a seminar you may contact AMA in advance to transfer to a future session, or can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply call. If you cancel with less than three weeks' notice, you will be liable for the entire seminar fee, however you may request a courtesy transfer to use at any future AMA seminar of equal or lesser value. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed, and do not cancel with a minimum of three weeks’ notice as described above, you will be charged the entire seminar fee.

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