Procurement Strategy

In today’s increasingly competitive market, a strong procurement strategy can give your company a distinct advantage.

In this certificate program, you will examine and apply various approaches to procurement and inventory management. You will explore how you can reduce costs by standardizing approaches and applying best practices used by large and small organizations in multiple industries, including, but not limited to, retail, manufacturing, and service. Devising purchasing specifications that align with organizational goals is the first step. Next, you will apply standard inventory analysis methods, such as economic order quantity calculations, to generate the best quantity and reorder point for your organization. You will also explore how to implement category management and develop buying strategies for goods and services your organization uses while strategically managing costs. Finally, you will have the opportunity to practice how to negotiate effectively with suppliers, implementing win-win strategies that enable long-term productive relationships. Throughout the courses, you will utilize a number of Excel tools that you can apply to your workplace, both now and in the future.