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Nov 27, 2024
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2024-2025 College Catalog
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LGM 107 - Introduction to Purchasing 3 Credits, 3 Contact Hours
3 lecture periods 0 lab periods
Survey of basic purchasing functions. Includes establishing requirements and quantities, developing policies and procedures for purchasing, making purchasing decisions, receiving acceptable goods, arranging packaging and shipping, and managing inventory levels.
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Course Learning Outcomes
- Formulate requirements and quantities.
- Explain purchasing policies and procedures.
- Formulate purchasing decisions.
- Describe the complete purchasing process.
- Calculate and analyze inventory levels.
Outline:
- Make versus Buy
- Scope and Objective of Purchasing
- Establishing Requirements and Quantities
- Total Landed Cost Concept
- Purchasing Policies and Procedures
- Types of purchase orders
- Completing purchase order forms
- Distribution of purchase order copies
- Change notices
- Letters of credit
- Decision Making for Purchasing
- Measuring Acceptable Deliveries
- On time deliveries
- Number of exceptions at delivery
- Condition of freight upon delivery
- Packaging and Shipping
- Managing Inventory Levels
- Vendor Selection Criteria
- Vendor Score Card
Effective Term:
Fall 2016
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