The process which involves the acquisition of goods and services that are important for the organization is known as procurement. The entire process starting from vendor selection to strategic vetting to contract negotiation to the setting of payment terms everything comes within the duties of a procurement manager. Procurement occupies a vital segment of the corporate strategy. The four leading influencers for acquisition are the market placement, company identity, management issues and company capabilities.
The best way to gain hands-on knowledge in the procurement industry is to undergo professional procurement training. This would equip you in the entire Procure to pay cycle which comprises of:
- Need identification
- Authorization of Purchase request
- Approval of Purchase request
- Identification of supplier
- Quotation inquiry receipt
- Vendor selection
- Selection of vendors
- Acknowledgement of a purchase order
- Notice on advanced shipping
- Receipt of goods
- Recording invoices
- Supplier payoffs
1. The hands-on training not only imbibes in the incumbent's professional traits to handle the entire procuring process in a more organized manner but also develops a strategic approach procurement, thus creating value out of the supply base.
2. The procurement programs also transform the candidates into professionals trained under a tailor-made mix of positive applications, resources and processes that are very much industry-centric.
3. Through these programs, the trainees are shaped in a holistic design to impart qualities to procure goods and services the way the organization does.
The advanced learning tools used to train in these programs are best proven to enhance the organization’s procurement capacity to global business levels.