Our business environment is becoming increasingly competitive especially with technological innovations including the advancement of social media.
Business has always focused on sales, for example, the training of a sales force and how to maximize sales. If you think about this, depending on the industry, a business profit margin is a fraction – say 3%, 9% of net profit.
Businesses have recognized that they can gain substantial competitive advantage by focusing on purchasing and supply management and cutting costs. One-hundred percent of every dollar saved goes to net profit. This is why this is an important business course and why many managers believe that purchasing and supply chains complete with each other.
Management 2230 – Purchasing explores how effective purchasing and supply management is vital to organizational success. It emphasizes the purchasing and supply process in the context of environmental changes in supply, technology, legal, and regulatory and competitive areas.
Enroll in MANAGEMENT 2230 to learn about purchasing and supply management trends and improvements that will add valuable information and application to your management and business knowledge.
- The purchasing function
- Policies and procedures
- Sources of supply
- Sourcing: quality, service and price
- Value analysis
- Forward buying
- Make or buy
- Capital equipment
- Contract law
- Government regulation of purchasing
Need More Information?
For more information about this and other Management courses, please see the Management web page.