This course is being offered as part of a collaboration between NAED, the National Association of Electrical Distributors and ASA, TheAmerican Supply Association.Some of the terms and images in the course may be specific to the electrical or plumbing and supplyindustries.We believe the overall topic, concepts, and skills taught in the course are not industry-specific and are relevant to all distributors.
Course Information
Welcome to Essentials of Profitable Purchasing and Inventory Management.This course is composed of modules that you can progress through at your own pace.
You must achieve a 75% or better on any quizzes or exams in order to complete a module. All modules must be satisfactorily completed to complete the course.
Essentials of Profitable Purchasing and Inventory Management explains the role of purchasing and inventory management in wholesale distribution. The course covers why some companies blend purchasing and inventory management under the umbrella known as supply chain management. Topics include strategic supply chain management, purchasing techniques, effective purchasing, contract negotiation strategies, and advanced forecasting for inventory management.
After successfully completing this course, you will be able to:
- Describe the money and non-money issues that a purchasing agent/manager should negotiate
- Explain why developing best practices is vital for effective purchasing
- Discuss how a break-even analysis is calculated
- List the sources and uses of cash
- Summarize the reasons for an annual budget for stock
- Explain product flow in a distribution supply chain
- Identify the impact of lower purchase prices on a supply house’s financial health
- Explain why inventory is counted and describe the cycle counting process
- List the different categories of quality and discuss how to measure quality for each element
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