Finance For Strategic Procurement, Part II

Learn financial principles to make better procurement decisions


46 student reviews

Competency: Advanced Finance
CEH's: 8


Do you worry that your procurement decisions will be questioned, if not reversed, by senior management? Whether you are selecting a supplier, negotiating payment terms, comparing lease and buy options, or making other typical procurement decisions, there are finance-based approaches that CEO's and CFO's will expect you to be following. If you are unaware of what these principles are, you will have little credibility with management at a minimum or make catastrophic mistakes in the worst-case scenario.

You can learn how to integrate financial principles into your procurement work and make optimal decisions. Our highly personal and interactive online class "Finance For Strategic Procurement, Part II" will help you apply to your procurement decisions the same financial approaches that CFO's will use to evaluate those decisions. As a result, your decisions will be respected and many potential mistakes will be avoided.

This online class is part of the two-course "Finance For Strategic Procurement" Series. Part I focuses on understanding financial statements and measuring and communicating a procurement department's contribution to the organization. Part II focuses on how financial decisions are made and evaluating supplier health. You must complete Part I to be eligible to enroll in Part II.


You will learn:

  • How to calculate the financial impact of changed payment terms
  • How to calculate the financial impact of changed payment terms
  • The financial implications of using P-cards
  • How to watch for payment pitfalls, such as those involving approval problems and overpayments
  • How purchases are justified by finance executives
  • How the time value of money concept should factor into procurement decisions
  • How to make repair vs. replace decisions
  • How to make lease vs. buy decisions
  • How budgeting works for a procurement department's internal customers
  • Costing principles that apply to procurement
  • How to evaluate suppliers' financial health using comparative financial statements, ratio analysis, and the Altman Z-Score
  • Special issues related to publicly-held suppliers
  • The importance of audited supplier financial statements, including alternatives to auditing



How this online course works

  • You can start this on-demand course any time after you enroll; there's no pre-scheduled start date!
  • You progress through the course at your own pace, accessing easy-to-understand reading material, exciting exercises, optional multimedia, quizzes, and even a fun mid-term game!
  • You will have access to a friendly, expert instructor for any questions you may have!
  • You will learn best practices and processes designed so that you can apply your new skills in the real world!


To learn more about how full-length online procurement courses
from the Next Level Purchasing Association work, click on the short video below.



What are others saying about this course?

Fundamentals of Purchasing "Finance for Strategic Procurement, Part II, is an excellent course for those handling management positions who may not have a basic background in Finance. The course fine-tuned and validated my financial knowledge which I had only learned through experience."

Bonifacio A. Balia Jr., SPSM
Business Unit Planning Manager
United Arab Emirates



Ready to enroll?

 

Interested,
but have a few questions?

If you enroll in "Finance For Strategic Procurement, Part II" on or before October 31, 2014, you will receive all of these bonuses:

  • Certificate of Completion! This purchasing certificate is sent to you by postal mail and is suitable for framing.
  • FREE printer-friendly, PDF version of the class material
  • FREE Purchasing Performance Measurement spreadsheet template
 
For immediate assistance, call our office at
+1 (412) 294-1990 and speak with a member of the NLPA Team, Monday through Friday from 8AM to 5PM Eastern US Time.

or


Click on the button below to submit your questions electronically and a member of the NLPA team will contact you within one business day.