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Lesson 1 - Purchasing management - concepts 101 - Learn main concepts in corporate purchasing - YouTube
Channel: Americo e-Learning
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Have you bought something that you didn鈥檛 like?
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And after giving your money and take the product, you realized, I鈥檝e made a wrong decision.
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Why do you think it happens?
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Let鈥檚 try to break down the puzzle of how
individuals decide,
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choose, and buy things.
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And then, trace a parallel with the corporate
purchasing.
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My name is Americo Cunha, in this lesson,
we will be exploring the purchasing context,
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purpose, and terminology.
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Welcome, let's get start learning.
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You鈥檝e learned in the marketing classes
that there is a buying process that most consumers
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follow.
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It starts with the need recognition.
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Then, usually, people search for information
about products.
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They identify alternatives
and then make the decision which product they
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will buy.
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After using the product, they may like it
or be frustrated with their choice.
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Even educated consumers may regret after buying
something.
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Can be their own feelings about the product
or motivate by opinons from friends and family.
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If these things can happen with a simple personal
purchasing,
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imagine what can happen in a corporate purchasing.
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By comparing personal and corporate purchases,
we can gain insights about the professional
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purchasing work.
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What are the differences between personal
and corporate purchasing?
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In the personal side, it is based on personal
needs and desires.
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It is your own decision all the way through.
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You have a need, have the money,
You alone can decide to buy,
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choose the product that you like,
buy and pay,
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take the product with you
and use it as you want.
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In the other hand, in a company,
as a purchasing professional,
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you are responsible for fulfilling the needs
of other people.
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The buying decision is made by a bunch of
people,
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The payment is handled by some guys,
The product transportation, storage and usage
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by people the you may not know.
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Now let鈥檚 explore why corporate purchasing
is more complicated and risky
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It is mainly because, the needs come from
distinct groups and people.
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And, worst, these needs can be contradictory.
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For instance, operations may want the best
equipment,
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that could be more expensive,
that may be is contrary to the marketing need
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to price the product in a competitive range.
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To find out the best overall solution for
all business units,
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the work is coordinated in purchasing process.
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If well done the purchasing process can bring
several benefits.
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(1) Maximize value, promote savings
(2) Develop relationships with external partners
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that can leverage innovation
(3) Acquire components and materials with
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high quality
(4) Reduce time-to-market
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(5) Reduce supply risk and support business
continuity
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(6) Increase contribution to profits
(7) Improve competitive advantage
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The purchasing process and procedures intends
help purchasing professionals to find the
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most suitable solution for the company.
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Let鈥檚 next check the main activities of
the corporate purchasing process.
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The needs usually arise from sales forecast
and production plan.
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Then, there is a very critical step, to identify,
sort, and define the requirements that will
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be fulfilled by the purchasing.
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After, the purchasing department should look
for and choose suppliers that can provide
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solutions to the requirements.
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Also, the purchasing team has to negotiate
the technical and commercial terms.
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The purchasing is placed, items are received,
verified and put available for the company.
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After receiving the materials there is lots
of work to be done.
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Follow up with internal clients about deliveries,
quality of the materials, and, if the contract
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terms are being followed.
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Thanks for watching, see you in the next lesson
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