Syllabus Of PM-

  1. Introduction to Purchase Management:
    • Definition and importance of purchase management.
    • Role and objectives of the purchasing function.
    • Evolution of purchasing and its strategic role in organizations.
  2. Purchasing Process:
    • Identification of procurement needs.
    • Specification development.
    • Supplier selection and evaluation.
    • Negotiation and contracting.
    • Purchase order processing.
    • Receiving and inspection.
    • Payment and invoice verification.
  3. Supply Chain Management:
    • Understanding the supply chain.
    • Integration of purchasing within the supply chain.
    • Supply chain strategies and optimization.
  4. Vendor Management:
    • Vendor selection criteria.
    • Vendor performance evaluation and measurement.
    • Supplier relationship management (SRM).
    • Supplier development and collaboration.
  5. Cost Analysis and Pricing:
    • Cost analysis techniques.
    • Price determination and negotiation.
    • Total cost of ownership (TCO) analysis.
  6. Legal and Ethical Considerations:
    • Contract law and its application in procurement.
    • Ethics in purchasing.
    • Compliance and regulatory issues.
  7. Inventory Management:
    • Inventory control methods.
    • Inventory turnover and carrying costs.
    • ABC analysis.
    • Economic order quantity (EOQ) and safety stock.
  8. Global Sourcing and International Procurement:
    • Import/export regulations.
    • Currency exchange and risk management.
    • Cross-border procurement challenges.
  9. Technology in Purchase Management:
    • E-procurement systems.
    • Purchase order automation.
    • Supplier portals and digital procurement tools.
  10. Risk Management:
    • Identifying and mitigating procurement risks.
    • Supply chain disruptions.
    • Business continuity planning.
  11. Sustainable Procurement:
    • Environmental and social responsibility in purchasing.
    • Sustainable sourcing practices.
    • Green procurement strategies.
  12. Case Studies and Practical Applications:
    • Real-world examples and case studies.
    • Group projects and simulations.
    • Guest lectures from industry professionals.
  13. Trends in Purchase Management:
    • Emerging trends in procurement and supply chain management.
    • Digital transformation and Industry 4.0.
    • Artificial intelligence and data analytics in purchasing.