Professional Certificate in Procurement and Purchasing

Professional Certificate in Procurement and Purchasing by MTF Institute

Created by: MTF Institute of Management, Technology and Finance
Institute of Management, Technology and Finance

What Will I Learn?

• Introduction to Procurement, Sourcing, Supply Chains
• Planning
• Procurement Processes
• Procedure of Procurement
• Focuses of work

Requirements

• For a better learning experience, we suggest you to use a laptop / mobile phone / pen and paper for taking notes, highlighting important points, and making summaries to reinforce your learning.

Target audience

• No special requirements. A course for anyone who wants to build career in Procurement, Sourcing, Supply Chains
• Procurement: The overarching process of acquiring goods and services that a company needs for its operations. It goes beyond simply buying things; procurement covers: Identifying needs Finding suppliers Negotiating contracts Ordering Receiving goods/services Payment processing Managing supplier relationships
• Sourcing:  A strategic part of procurement. It focuses on: Researching the market to find potential suppliers Evaluating suppliers based on cost, quality, reliability, sustainability, and risk factors Selecting the best suppliers for the business's specific needs
• Why is Learning Procurement and Sourcing Important for Companies and Managers? Cost Savings: Effective procurement and sourcing finds the best value for money. This directly impacts the company's bottom line. Efficiency: Streamlined processes in procurement avoid delays and bottlenecks in a company's operations. Risk Mitigation: Thorough sourcing helps identify potential risks (like supply disruptions) and proactively manage them. Competitive Advantage: Strong supplier relationships and access to quality materials or services can give companies an edge in the market. Innovation: Sourcing can help uncover new technologies, materials, or processes that boost a company's offerings.