Purchasing and Materials Management

Catalog description

Purchasing policies, procedures, order specifications and agreements, supplier selection, and the role of purchasing in production planning and inventory management. Not available to baccalaureate business students in Smeal. This is an online introductory Web course on purchasing and materials management. As such, its focus will be on the management of the purchasing and materials management functions. We will emphasize the overall goals of purchasing, which include: providing an uninterrupted flow of materials and services; keeping inventory at a minimum to achieve the objectives of the company; maintaining quality standards; developing competent suppliers; standardizing the item bought; obtaining the lowest ultimate price; improving the organization's competitive position; and achieving good external and internal working relationships. Key topics to be covered include: purchasing policies and procedures, order specifications and agreements, supplier selection, and the role of purchasing in production planning and inventory management. The use of SAP R/3 Enterprise Resource Planning system will be an integral component of this course. Students will complete numerous lab projects consisting of hands-on assignments in the use of the SAP R/3 Materials Management application. SAP R/3 assignments will include the processing of material master records, vendors, requisitions, request for quotes, quotation analysis, purchase order creation, purchase receipts, and invoice processing.