Procurement & Sourcing

Course overview

Procurement quietly decides how much a business spends and how well it runs. This course teaches the full process, from understanding a need to paying the supplier, with templates you can use at work and a practical procurement project to finish.

Who this is for

• Procurement and purchasing officers
• Store, admin and operations staff who buy for their company
• Business owners who want better supplier deals
• People moving into supply chain roles

Curriculum

1. 01Procurement fundamentals20 min

   • Procurement FundamentalsUnderstand what procurement is and why it matters, how it differs from purchasing, the steps of the procurement cycle and who does what.
   • Badge: Procurement Basics
2. 02Supplier identification25 min

   • Supplier IdentificationTurn a need into a clear specification, find suppliers from the right sources, move from a long list to a short list and weigh local against international options.
   • Badge: Supplier Finder
3. 03Vendor evaluation25 min

   • Vendor EvaluationChoose evaluation criteria, score suppliers on a weighted scale across quality, delivery, price and risk, and use visits, references and trials to check the scores.
   • Badge: Vendor Evaluator
4. 04RFQ and RFP25 min

   • RFQ and RFPChoose between an RFQ, an RFP and a tender, write a clear request, compare and score bids on total cost and keep the process fair and documented.
   • Badge: RFQ & RFP
5. 05Negotiation25 min

   • NegotiationPrepare for a negotiation, look beyond price to total cost and terms, recognise common tactics and respond to them, and aim for agreements that work for both sides.
   • Badge: Negotiator
6. 06Purchase orders and contracts25 min

   • Purchase Orders and ContractsRun a purchase requisition and approval, write a clear purchase order, understand basic contract terms and manage delivery, inspection and payment.
   • Badge: PO & Contracts
7. 07Procurement processes and controls25 min

   • Procurement Processes and ControlsSet approval limits, separate duties, match purchase orders, receipts and invoices, keep an audit trail and write a procurement policy people can follow.
   • Badge: Procurement Controls
8. 08Inventory coordination20 min

   • Inventory CoordinationSet stock levels and reorder points, work with stores and the warehouse, forecast demand and avoid both stockouts and overstock.
   • Badge: Inventory Coordination
9. 09Cost control and savings25 min

   • Cost Control and SavingsUse total cost of ownership, analyse spend, cut cost without hurting quality and report savings honestly.
   • Badge: Cost Control
10. 10Supplier relationship management25 min

    • Supplier Relationship ManagementReview supplier performance with a scorecard, develop key suppliers, handle disputes and delays and manage supply risk with backup suppliers.
    • Badge: Supplier Management
11. 11Local and international sourcing, and ethics25 min

    • Local and International Sourcing, and EthicsCompare local and international sourcing on real cost and lead time, recognise conflicts of interest and bribery, and buy in a sustainable and ethical way.
    • Badge: Ethical Sourcing
12. 12Final project: a practical procurement45 min

    • Final Project - A Practical ProcurementRun a real or realistic purchase from need to purchase order: define it, shortlist suppliers, request quotes, evaluate, negotiate and present your recommendation.
    • Badge: Procurement Project

Projects you'll build

• A practical procurement project

  Source a real or realistic purchase end to end: the need, supplier shortlist, RFQ, evaluation, negotiation and purchase order.

Assessment and certificate

You are assessed with a final assessment (pass mark 60%) and a final project. Your certificate is awarded when you meet those requirements. Paying for the course does not award it on its own.

Frequently asked questions