01. Understand procurement concepts and inventory management fundamentals
02. Develop skills required for purchasing and materials management
03. Acquire specific knowledge and skills for cost analysis, decision-making, and value analysis related to materials procurement and inventory management
Integrated End-to-End Procurement Management System
Get complete real-time visibility into demand, supply, costs and fulfillment measures and trends
Concept and components of purchasing and inventory management.
Role of the supply chain in achieving least cost in a manufacturing environment.
Strategic considerations in the procurement of raw materials, components and services.
Ethics, fair dealing and risk management in procurement.
Development and growth of modern procurement and inventory management.
Methods including freight consolidation, cross docking, supplier development and lean supply methods.
Strategic importance of procurement and inventory management to the provision of service and quality.
Optimising inventory levels to provide appropriate service and maximise ROI.
Role and impact of information technology and electronic commerce on current purchasing and inventory management practices.
Development of MRP, ERP and synchronic support models.
Sales and Operation Planning (SOP).
Inventory management systems.