PURCHASE STRATEGIES

Catalog description

This course explains the role of purchasing and how purchasing fits into the overall structure of an organization and its importance in maintaining efficiency. Students learn how purchasing managers keep stock of inventory, work with vendors and evaluate the quality of goods. This course also addresses the art and science of negotiation learned through experience gained in simulated negotiations. Students are exposed to negotiate with vendors secure deals for supplies. This class reviews the laws and regulations that relate to purchasing. Because purchasing managers make many legally agreements with vendors, contract law is also emphasized, students learn about different types of contracts, enforcement of warranties and options for legal recourse in disputes with suppliers.