Best Purchasing Practices

Best Purchasing Practices



The purchasing function is essential to any organisation. Who, what, where, when and how are all questions that need to be resolved in a way that optimises the company’s resources and output. This course deals with the many facets of the purchasing process in order to help new buyers, experienced buyers, sourcing managers and any professional with purchasing responsibilities feel confident to carry out their duties successfully and with the company’s best interests in mind.


4 hours 20 minutes

Course Content

The eight modules in this course are:

The purchasing process – gain an overview of the purchasing process, stakes and key players and analyse your purchasing portfolio

Purchasing project: needs analysis – learn to assess a purchasing project’s technical file, use quantitative and financial data in your analysis and optimise specifications

Purchasing project: supplier market analysis – learn operational tools such as Porter, SWOT the nine point risk and profit concentration and analysis matrices in order to understand market forces and choose the best suppliers on the market

Purchasing project: cost analysis – apply an innovative approach to operating cost analysis by learning the total cost of ownership, the mechanics of pricing and cost models based on cost drivers

Purchasing strategies – discover how to define a purchasing strategy, analyse purchasing risks, identify strategic levers and action plans

The legal foundations underlying purchase contracts – understand the legal rules governing relations between purchasers and suppliers and how they protect commitments both ways

Procurement best practices – learn how to work efficiently with internal customers in terms of your department’s ordering process

Optimising inventory management – find out how to manage your inventory efficiently by understanding different types of inventory and how they impact finances, keeping the right stock level and classifying product families.


Course Objectives

  • To gain an overall perspective of the purchasing process
  • To use effective tools to perform a thorough analysis of a need that requires specifications
  • To perform a precise market study to make a diagnosis of a purchasing portfolio
  • To understand supplier cost structures and define suitable cost models
  • To define suitable purchasing strategies
  • To understand the legal rules underlying purchase contracts, how to optimise clause negotiation, what the essential clauses imply, how to measure contractual risks
  • To understand the various dimensions of the procurement function and how to find your bearings among them
  • To explore all the levers you can use to adjust your inventory to exactly the level you need


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