Finance For Strategic Procurement, Part II

Learn financial principles to make better procurement decisions

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 course “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 course 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.


Buyers use financial information to make procurement decisions.

SPSM-BOK® Level: 3
Competency: Advanced Finance
CEHs: 8

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Buyers use financial information to make procurement decisions.Finance For Strategic Procurement, Part II

Learn financial principles to make better procurement decisions

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 course “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 course 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
  • 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

  • Start this on-demand course any time after you enroll; there’s no pre-scheduled start date!
  • This course has 8 lessons; it will take you between 30-60 minutes to complete each lesson.
  • 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!
  • What if you have questions on the material? Ask a friendly, expert instructor any questions you may have!
  • 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, watch this short video.

What are others saying about this course?

"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."

Finance for Strategic Procurement, Part 2 ReviewBonifacio A. Balia Jr., SPSM
Business Unit Planning Manager
United Arab Emirates

Option 1:

Enroll in Part II Only

If you are:

Then “Finance For Strategic Procurement, Part II” would be a great course for you.

Bonuses for enrolling now:

  • FREE printer-friendly, PDF version of the course material
  • FREE Lifetime Purchasing Skills Retention Package

Number of Courses: 1

Length of Training: 6-8 hours

Duration of Access: 60 days

Start Date: Access begins as soon as you enroll

Cost: $229 US

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Option 2:

Enroll in the Two-Part Series

Learn virtually everything a procurement professional will need to know about finance!

Do you realize the importance of being a true finance expert? Then, now is the time to enroll in both courses of the Finance For Strategic Procurement Series!  These two courses will give you the comprehensive finance education you need to speak intelligently with CFO’s and finance executives.  You will never again lack the confidence to discuss financial topics with management!

Bonuses for enrolling now:

Number of Courses: 2

Length of Training: 12-16 hours

Duration of Access: 2 months

Start Date: Access begins as soon as you enroll

Cost: $399 US

Enroll Now


 

Interested, but have a few questions?

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.

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