Principles of Procurement

Provided by: Ivy Tech

This course is designed to teach the basics of procurement management.  Topics covered include: the challenge of procurement and materials management, objectives and organization, function, specification, quality control and inspection, supplier evaluation, selection, and measurement, supplier development, strategic cost management, contracts and negotiation, procurement relationships, procurement transportation, procurement laws and ethics, and global sourcing.

Course Objectives:

  • Describe the demands placed on procurement and supply chain managers by business stakeholders
  • Summarize the impact of procurement and supply chain management on the competitive success and profitability of modern organizations
  • Discuss the ethical, contractual, and legal issues faced by procurement and supply chain professionals
  • Summarize the increasingly strategic nature of procurement, especially the fact that procurement is much more than simply buying goods and services
  • Summarize the procurement process
  • Discuss supplier development, evaluation, selection, and measurement techniques
  • Define appropriate techniques used to measure supplier quality
  • Summarize appropriate negotiation and contract management techniques
  • Describe methods to strategically manage costs in procurement management.

Recommended Background

  • None

Course ID

LOGM 228

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