What you'll learn

Introduction to Procurement, Sourcing, Supply Chains

Planning

Procurement Processes

Procedure of Procurement

Focuses of work

Requirements

For a better learning experience, we suggest you to use a laptop / mobile phone / pen and paper for taking notes, highlighting important points, and making summaries to reinforce your learning.

Description

Welcome to course Professional Certificate in Procurement and Purchasing by MTF InstituteCourse provided by MTF Institute of Management, Technology and FinanceMTF is the global educational and research institute with HQ at Lisbon, Portugal, focused on business & professional hybrid (on-campus and online) education at areas: Business & Administration, Science & Technology, Banking & Finance. MTF R&D center focused on research activities at areas: Artificial Intelligence, Machine Learning, Data Science, Big Data, WEB3, Blockchain, Cryptocurrency & Digital Assets, Metaverses, Digital Transformation, Fintech, Electronic Commerce, Internet of Things. MTF is the official partner of: IBM, Intel, Microsoft, member of the Portuguese Chamber of Commerce and Industry, and resident of the incubator "The Fintech House of Portugal".MTF is present in 208 countries and has been chosen by more than 400 000 students.What are Procurement and Sourcing?Procurement: The overarching process of acquiring goods and services that a company needs for its operations. It goes beyond simply buying things; procurement covers:Identifying needsFinding suppliersNegotiating contractsOrderingReceiving goods/servicesPayment processingManaging supplier relationshipsSourcing: A strategic part of procurement. It focuses on:Researching the market to find potential suppliersEvaluating suppliers based on cost, quality, reliability, sustainability, and risk factorsSelecting the best suppliers for the business's specific needsWhy is Learning Procurement and Sourcing Important for Companies and Managers?Cost Savings: Effective procurement and sourcing finds the best value for money. This directly impacts the company's bottom line.Efficiency: Streamlined processes in procurement avoid delays and bottlenecks in a company's operations.Risk Mitigation: Thorough sourcing helps identify potential risks (like supply disruptions) and proactively manage them.Competitive Advantage: Strong supplier relationships and access to quality materials or services can give companies an edge in the market.Innovation: Sourcing can help uncover new technologies, materials, or processes that boost a company's offerings.How Procurement and Sourcing Skills Build Global CareersHigh Demand: Companies worldwide of all sizes need individuals who understand how to source and procure effectively.Transferable Skills: The fundamentals of procurement and sourcing apply across industries and countries.Cross-Functional Collaboration: Procurement interacts with many departments (finance, operations, legal), giving a broad view of how businesses function globally.Growth Potential: As globalization increases, the need for professionals who understand the complexities of international procurement and supply chains will rise.Course Author: Igor DmitrievDigital Transformation and Banking ExpertEducation:MBA, The Boston UniversityMaster of Science at Engineering (Technical) Management,The State University of New York at BuffaloMaster of Science at Informatics and Economics,Six Sigma Black BeltExperience:Expert at Banking (> 18 years), FinTech & Digital (> 15 years),Experienced Manager (> 14 years) with successful track of recordsat personal and corporate entrepreneurship.More than 12 years at worldwide banking groups such usSociete Generale , RaiffeisenbankExperience at roles: CEO, Head of Business, Chief Digital &Marketing Officer, Head of Digital Transformation and Channels, Head of Products and Marketing.