Not too easy. Not too difficult.
This course focuses on the activities of buying goods and services from external sources in any organization.this is a very important function in any organization since its an element that affects product cost.this course will help an organization to ensure what they purchase has a high value.The object of purchase department is to arrange the supply of materials, spare parts and services or semi-finished goods, required by the organisation to produce the desired product, from some agency or source outside the organisation.The purchased items should be of specified quality in desired quantity available at the prescribed time at a competitive price.purchasing is an operation of market exploration to procure goods and services of desired quality, quantity at lowest price and at the desired time. Supplier who can provide standard items at the competitive price are selected.It includes research and development for the proper selection of materials and sources, follow-up to ensure timely delivery; inspection to ensure both quantity and quality; to control traffic, receiving, store keeping and accounting operations related to purchases.The modern thinking is that Purchasing is a strategic managerial function and any negligence will ultimately result into decrease in profits.
Any organization requires this course knowledge to always get value for their products.this course will help build a business through making decisions inline with the strategic objectives.This course also assist in maintaining a relationship with suppliers which give an advantage of lower prices,reliable services and improved support. Through this course i learned that purchasing objectives should include the pursuit of long-term relationships if they might be a strategic asset.It also calls for continuous evaluation of the purchasing objectives in order to improve and increase efficiency and effectiveness.If the efficiency of the suppliers increase this will translate to processing and production costs.By giving the purchase responsibility to a specialist, the firm can obtain greater economies in purchasing. Moreover purchasing involves more than 50% of capital expenditure budgeted by the firm.
Hours per week:
Advice for students:
Would advice students considering this course will provide you with the skills and knowledge to save on costs and run an efficient purchasing and supply operation. You will have the opportunity to evaluate and use information to develop strategies, examine case scenarios and demonstrate effective judgement skills in planning, procurement and supply activity