Examines the fundamental elements of purchasing. Learners examine how the purchasing function fits into the overall structure of an organization and its importance in maintaining efficiency and reducing costs. Emphasis is placed on current business trends and their impact on the purchasing profession. Fundamental concepts, methods, and techniques used to evaluate requirements for purchasing goods and services are discussed. Contractual law and ethical issues facing the procurement professional are determined.
Pre/Corequisite: 10-182-127 EVALUATING THE PURCHASING PROCESS.