Enhancing Procurement’s Contribution to Financial Performance

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1.00 hour
Online Self Study


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About the Course

Procurement contributes significantly to the firm's financial health through cost savings and value-added processes. This course will help you to master the necessary procurement measuring tools to enhance your company's financial performance.

Course Description

Procurement is critical to an organization's finances, as it is the source of most acquisitions and a primary factor in the management of assets or inventory. Procurement also accounts for major administrative activities that affect financial performance, such as developing requisitions, issuing purchase orders, and reconciling invoices.

This course examines how procurement contributes to the financial performance of an organization by examining its role in the cash cycle, its effects on business value, and its ability to affect operations to add financial value. We will also analyze procurement's performance and review how these performance measures can establish realistic standards for improvement and help in organizational planning.

Learning Objectives

After completing this course, you should be able to:

  • Identify how procurement relates to financial performance.
  • Analyze how procurement processes add financial value.
  • Measure the performance of the procurement function.