- Instructor: Lagos City Polytechnic
- Lectures: 14
- Duration: 10 weeks
PRINCIPLES OF PURCHASING
NDI
BAM 117
HISTORY OF PURCHASING
There are only wo fundamental inputs in which management, be it in private or public sector of an economy, is primarily interested:(ii) Men and (i) material management is equally interested in other resources. However, from management point of view, materials management offers greater promise as a cost reducing device. The reason(s) are not far-fetched. The basic goal of a business activity the development and manufacturing of products that can be marketed at a profit. This goal is accomplished by the appropriate blending of what management authorities historically have called the five M’s: Machines, Manpower, Materials, Money, and Management. Materials today are the lifeblood in the industry. Materials of the appropriate quality must be available at the right time, in the right quality, at the needed location and an acceptable total cost. Failure to fulfill any of these responsibilities concerning materials to company costs and decreases company profit just as would do outmoded production methods, inefficient personnel, and ineffective marketing activities.
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PRINCIPLES OF PURCHASING
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Lecture 2.1HISTORY OF PURCHASING
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Lecture 2.2THE KEY PURCHASING VARIABLES2h
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Lecture 2.3PURCHASING DEPARTMENT AND ORGANIZATIONAL RELATIONSHIP
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Lecture 2.4PURCHASING ORGANIZATION
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Lecture 2.5PURCHASING AS A TOP MANAGEMENT FUNCTION
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Lecture 2.6PURCHASING AS A MIDDLE-LEVEL MANAGEMENT FUNCTION
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Lecture 2.7PURCHASING PLANNING
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Lecture 2.8PRODUCT CLASSIFICATION2m
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Lecture 2.9PROCEDURES FOR SELECTING SUPPLIERS
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Lecture 2.10ATTRIBUTES OF A GOOD SUPPLIER
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Lecture 2.11OUTSOURCING
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Lecture 2.12SPECIFICATION
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Lecture 2.13STANDARDIZATION
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Lecture 2.14QUALITY CONTROL AND ASSURANCE
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