Whether you are selecting a supplier, negotiating payment terms, comparing lease and buy options, or making other typical procurement decisions, there are finance-based approaches that CEOs and CFOs will expect you to be following. Finance For Strategic Procurement (Advanced) will help you apply to your procurement decisions the same financial approaches that CFOs will use to evaluate those decisions. As a result, your decisions will be respected and many potential mistakes will be avoided. Upon completing this course, you will be able to:

  • Calculate the financial impact of changed payment terms
  • Understand the financial implications of using P-cards
  • Avoid payment pitfalls, such as those involving approval problems and overpayments
  • Understand how purchases are justified by finance executives
  • Understand how the time value of money concept should factor into procurement decisions
  • Make repair vs. replace decisions
  • Make lease vs. buy decisions
  • Understand how budgeting works for a procurement department’s internal customers
  • Apply costing principles that apply to procurement
  • Evaluate suppliers’ financial health using comparative financial statements, ratio analysis, and the Altman Z-Score
  • Understand the importance of audited supplier financial statements, including alternatives to auditing

This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.

This course has been pre-approved for 8 CEHs.