Fundamentals of Purchasing

Buyers play a pivotal role in the financial success or failure of your organization.  Since purchasing activities can account for as much as 80% of your organization’s total budget, your purchasing decisions directly influence the company’s profit margin.

This intensive, hands-on seminar will arm you with the skills you need to influence that profit or gross revenue margin in a positive manner.  You must have savvy negotiating techniques; a clear, concise method of keeping good records; forms that are succinct and functional; a working knowledge of the legal ramifications that could land your organization in court; and more.

The more skillful your purchasing people, the better your organization’s chances are for turning a profit.

Newly appointed as well as experienced buyers can learn these important skills in this Fundamental of Purchasing seminar, making them some of your organization’s most valuable assets.  This fast-paced, two-day seminar is packed with useful information, from the basics of purchasing to the finest points of shaving costs.  

What we will cover

After attending Fundamental of Purchasing, you’ll return to the job with critical skills you can put directly to use.  You will learn:

  • How to establish relationships in which you and your supplier both benefit
  • Tips that can literally save your organization thousands of dollars 
  • How to become a savvy negotiator
  • How to untangle the web of legalities that can affect purchasing decisions 
  • How to develop and keep information and records up-to-date and accessible
  • The basic principles of successful purchasing
  • How to choose the suppliers who provide the lowest overall cost for the best value



The 29 Specific Benefits of Attending this Seminar

  1. How to get “the right price” by understanding the “total cost of ownership”
  2. How to increase your organization’s profits through savvy purchasing
  3. The 8 practices you should avoid in order to remain both ethical and successful
  4. The 10 rules that guarantee negotiating failure—and how to avert them
  5. Keys to getting organized and a time-saving checklist to help you do it
  6. The 6 major components of overall cost
  7. When and how to apply specialized purchasing instruments and contracts
  8. The 6 essential tips for negotiating—and how to be prepared before you start
  9. Strategies to uncover the most reputable sources through sourcing and qualification
  10. What you must know about the laws that apply to purchasing matters
  11. A terms and conditions checklist and ways to clarify the fundamental elements of a contract
  12. What makes a good purchasing policies and procedures manual
  13. How to rate different suppliers precisely through performance evaluations
  14. A 10-point checklist to help you know your supplier
  15. The 4 major steps for selecting a source of supply
  16. The 7 warning signs of a supplier at financial risk
  17. Applying computerization, EDI, and electronic commerce to your best advantage
  18. When and when not to aim for the 7 types of discounts
  19. A checklist of negotiating tactics
  20. The 5 categories of suppliers and the supplier relationship building tree
  21. How to reduce costs in an organized and creative manner
  22. The basic aspects of replenishment lead-time and types of inventory planning
  23. How to control inventory using the Pareto Principle and A-B-C inventory stratification
  24. How to get clarity on F.O.B. terms of sale
  25. The 3 essential purposes of a bill of lading
  26. The 4 types of freight loss and damage claims
  27. The 9 methods to establish quality specifications
  28. The 9 commandments for the seller and supplier obligations
  29. The 4 stages of supply management