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Fundamentals of Purchasing for New Buyers

  • Overview ImageOverview
  • Outline ImageCourse Outline
  • Scheduled ImageScheduled Dates

Overview ImageCourse Overview

Purchasing is a critical function in any organization, significantly influencing operations' efficiency, cost-effectiveness, and overall success. As businesses evolve, the roles of purchasing and buyers continue to change. This course will give new buyers the necessary skills and knowledge to understand the purchasing cycle, improve their negotiating power, and make better buying decisions. Buyers can help reduce costs, enhance supplier relationships, and contribute to overall business success by improving purchasing management.

Objective:

  •   Be familiar with the fundamentals of Purchasing.
  •   Recognize the new roles of Purchasing and buyers.
  •   Become a more efficient and productive buyer through applying the techniques of purchasing management. 
  •   Improve the services provided by your suppliers through more effective negotiations and planning. 
  •   Understand the ethical/legal aspects of purchasing and its possible liabilities. 
  •   Attain a better negotiating position through cost analysis. 
  •   Identify hidden costs and make better buying decisions.
  •   Increase your company’s savings through better purchasing management - and increase your chances for success. 
  •   Find out how to select and qualify suppliers.
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Overview ImageCourse Outline

Day 1: Introduction to Purchasing and Its Value

  • Understanding the purchasing cycle and its importance to the organization.
  • Key criteria for measuring a buyer's performance.
  • Strategies for cost reduction through effective purchasing.
  • Overview of purchasing management policies, procedures, controls, and standards.

Day 2: Supplier Relations and the Requisition Process

  • Requisition and purchasing policies: what buyers need to know.
  • Exploring the different types of solicitation and their uses.
  • How to qualify and pre-select suppliers for better outcomes.
  • Assessing the risks associated with working with suppliers.

Day 3: Analysing the Supplier Market and Competitive Pricing

  • Techniques for assessing competitive market pricing.
  • Factors to consider when comparing supplier pricing and proposals.
  • Understanding pricing structures and how to evaluate them effectively.
  • The role of market research in making informed purchasing decisions.

Day 4: Specialized Purchasing Management Tools

  • Introduction to purchasing/procurement cards and how they streamline the buying process.
  • Understanding service contracts: when and how to use them.
  • Managing supplier relationships through effective communication and negotiation.
  • Practical applications of purchasing tools in real-world scenarios.

Day 5: Improving Purchasing Efficiency and Decision-Making

  • Cost analysis is used to gain a better negotiating position.
  • Identifying hidden costs and how to mitigate them.
  • Enhancing your company's savings through strategic purchasing management.
  • Key considerations for selecting and qualifying suppliers to ensure long-term success.
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Overview ImageSchedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

Select Month

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Location

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Date: 21 - 25 Jul 2025

Duration: 5 Days

Venue: London

Price: $5,300

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Date: 13 - 17 Oct 2025

Duration: 5 Days

Venue: London

Price: $5,300

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Fundamentals of Purchasing for New Buyers

Fundamentals of Purchasing for New Buyers

Date: 21 - 25 Jul 2025
Duration: 5 Days
Venue: London
Price: $ 5,300
youtube Register & Checkout
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Questions? Speak to our friendly training advisor

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Shayma Said

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Email Imageshayma@londontfe.com

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Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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Fundamentals of Purchasing for New Buyers

  • United KingdomLondon
  • calendar21 - 25 Jul 2025
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  • United KingdomLondon
  • 21 - 25 Jul 2025
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