Course Description: Essentials of Profitable Purchasing and Inventory Management© explains the role of purchasing and inventory management in wholesale distribution. The course covers why some companies blend purchasing and inventory management under the umbrella known as supply chain management. Topics include strategic supply chain management, purchasing techniques, effective purchasing, contract negotiation strategies, and advanced forecasting for inventory management.
Runtime: 4.0 Hours
After completing this course, participants will be able to:
- Describe the money and non-money issues that a purchasing agent/manager should negotiate
- Explain why developing best practices is vital for effective purchasing
- Discuss how a break-even analysis is calculated
- List the sources and uses of cash
- Summarize the reasons for an annual budget for stock
- Explain product flow in a distribution supply chain
- Identify the impact of lower purchase prices on a supply house’s financial health
- Explain why inventory is counted and describe the cycle counting process
- List the different categories of quality and discuss how to measure quality for each element
Online System Requirements:
For the best experience, we recommend using Google Chrome. Adobe Flash recommended.
Eligible for the Karl E. Neupert Endowment donor discount.