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Live Webinar

60-minute live streaming program
  • July 14
  • 1:00 - 2:00 pm EST

Purchasing Basics for the New Buyer

July 14

Gain an understanding of procurement concepts and how best to utilize the technologies available.

Individuals who are new to being a buyer within procurement may not be aware of the responsibility and opportunities that come with the position. The role can be high pressure at times and may differ from industry to industry, but as a rule the buyer will have to constantly balance the expectations of their customers against a supplier’s capabilities and at the same time hold themselves to a higher ethical standard than others in the organization. With these challenges the role can reap organizational recognition and provide potential career progression not found in other professions. This topic will provide the new buyer with an enhanced understanding of procurement concepts and how best to utilize the technologies available for processing their work. The material will also explain in detail the ethical obligations of the role and reasons why buyers are held to a higher standard. This higher level of responsibility in the organization brings with it opportunities to directly benefit the budget bottom line as well as other value-adds such as minimizing organizational risk. This information is critical for anyone who is a new buyer or new to supervising buyers and will send participants away with future training topics to explore as they advance their career in procurement.

Learning Objectives

  • You will be able to describe the difference between purchasing and procurement.
  • You will be able to discuss the ethical obligations of being a buyer.
  • You will be able to explain the benefits and pitfalls of electronic procurement methods.
  • You will be able to identify techniques to add value to your organization.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Definitions to Know as a New Buyer
  • General
  • Procurement vs. Purchasing
  • Strategic Sourcing
  • Suppliers vs. Vendors
  • Freight Terms
  • Payment Terms
Purchasing Technologies
  • Enterprise Resource Planning (ERP) Systems
  • Benefits and Pitfalls of Electronic Procurement
  • Price Benchmarks
  • How to Make the Most of Procurement Cards
  • Always Think About the Entire Procure-To-Pay Process
Ethical Obligations as a New Buyer
  • Accepting Gifts
  • Understand Your Organization's Policies and Procedures
  • Always Justify Your Competitive Bid Awards
  • Avoid the Appearance of Impropriety
  • Social Responsibility (Sustainability)
  • Don't Take Advantage of the Buyer Role for Personal Gain
  • Confidentiality
How Can I Add Value to My Organization?
Save Money
  • Don't Forget to Negotiate and Always Prepare Ahead of Time
  • Reduce Risk to Your Organization
  • Partner With Accounts Payable and Receiving
  • CRM and SRM – Build Relationships With Your Customers and Suppliers
  • Continually Streamline the Process
What's Next to Learn?
  • Group Purchasing Organizations
  • Uniform Commercial Code
  • How to Handle Disputes
  • Learn to Write and Project Lead a Formal RFP Process
  • Contract Law
  • Procurement Certifications
  • Demand Planning
  • Supplier Resiliency
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • CPIM/CFPIM/CSCP 1.0
     
  • This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
     
  • ISM 1.0
     
  • Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.2 including Finance 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Finance for 1.2 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Basic. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for buyers, operations managers, engineers, presidents, vice presidents, owners, supervisors, manufacturing engineers, project managers, plant and facility managers, operators and technicians, quality control personnel, controllers, accountants, inventory specialists, and design professionals.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Andy Lamb, C.P.M.

Andy Lamb, C.P.M.

Andy Lamb Associates LLC

  • Owner of Andy Lamb Associates LLC
  • Continues his full-time career concentrating on advancing supply chain, procurement and managed print services
  • Over 30 years’ experience working in private, public and nonprofit organizations
  • Advisor to the UC San Diego Extension - Supply Management Certification Program
  • Member of the Institute for Supply Management (ISM) and the Association for Healthcare Resource & Materials Management (AHRMM)
  • Achieved Certified Purchasing Manager (C.P.M.) lifetime certification status in 2012
  • Can be contacted at 802-345-5861 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 408876
Published 2021
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