This is a general view of the purchasing process. Forecast, requirements, requisition, supplier selection, contract, purchase order, receipt, inspection, payment, and performance measurement.
The cycle begins with the identification of needs. The needs can be defined during the planning, during a product development, in projects, or from the production process.
In the production planning, the sales forecast drives the aggregate and material requirement plan -MRP. Based on the MRP, it is possible to determine the quantity and dates for raw material, components, and semi-finished goods needed to meet the production plan.
The requisitioning involves the specification, describing material characteristics, quantity, and date in which the material is required. When it involves services, a statement of work should be elaborated to guide the contracting process. The business units inform the needs and descriptions through a purchase requisition.
Do you want to learn more, watch the video?
This video is part of the online course Introduction to Procurement Management for university undergraduate programs. The videos were designed to be used as a preparatory activity before classes.
The course covers the following topics:
• Procurement, purchasing and supply management
• Strategic Supply chain and procurement
• Procurement processes and purchasing types
• Sourcing strategies
• Supplier and vendor selection
• Supplier and vendor risk assessment
• Contract, RFP, RFQ, SOW, and SLA administration
Americo Cunha - Professor (Higher Education)
Operations & Project Management, DSc, MBA, MSc
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Topics covered in this video: purchasing lectures, procurement training, purchasing training, purchasing lectures, supply chain lessons, logistic training, logistic lessons, logistic lectures, supply sourcing strategy, operations management (field of study), break-even analysis, operations management lecture, business process mapping, flowcharting mapping, supply chain (field of study)
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