Skills In Purchasing And Merchandising Operations Business Essay

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Merchandising and purchasing works according to specifications of internal and external customers towards the common corporate goal of profitability. The introduction of this training is to address these professional skills is required in purchasing and merchandising operations, and to provide the practitioners into more capable, skills and confident purchasing and merchandising professionals.

Programme Structure

The programme consists of six modules during the day:

Purchasing and Merchandising Essentials

Purchasing and Merchandising Policies and Systems

Budget and Cost Management of Purchasing

Information Technology of Purchasing

Logistics Management

Law of Buying and Selling of Goods

Syllabus

Subject 1 -Purchasing and Merchandising Essentials

Aims

This module will provide an overview and clear understanding to the participants of the key principles, concepts and techniques in purchasing and merchandising management.

Contents

Objectives of Purchasing and Merchandising

Right Quality, Quantity, Time Price, Source, Service

Interdepartmental relations with:

Marketing, Operations, QA, Engineering, Inventory, Finance

The Purchasing & Merchandising Processes

Similarities/Differences between Purchasing and Merchandising

Purchasing Directions

Strategic Planning

Pro-Active Purchasing

Global Sourcing

China Sourcing

Buying Ethics

Purchasing Research

Value Analysis

Benchmarking

Cost & Legal considerations,

Computer-assisted decision-making and performance evaluation

Supply & Demand Analysis

Developing Purchasing Office in China

Subject 2 -Purchasing Policies and Systems

Aims

This module will demonstrate the systematic and organizational aspects in the process of purchasing and merchandising. It illustrates to the participants the importance of setting policies, elaborates on it and cascades down to operational levels using company-wide manuals, procedures, systems and forms.

Contents

Purchasing Policies, Procedures and Systems in brief

Interface/supports to other departments

The flow of internal purchasing/merchandising system

Policies

Manuals

Systems

Procedures

Forms

Approvals

Purchasing Organization

Responsibility, Authority and Accountability

Corporate vs Decentralized Purchasing

Supply Chain Management (SCM)

Rapid feedback system from users

Bar code technology

Procedures in selecting suppliers

Request for Quotation and Samples

Evaluating supplier capabilities & ethics

Selection criteria

Proposal Evaluation

Single sourcing vs Multiple sourcing

Making the Award

Managing the Contract

Contract Closure

Supplier Relationship Management

Systems for Local and Global Sourcing

Identifying sources

Total costs of offshore purchasing

Variety and Effectiveness evaluation

Order processing

Methods of Payment / Banking documents

Payment Terms / Shipping documents

Customs Clearance / I/E documents

Managing Shipment

Evaluating Performance

What should be measured

Evaluation of:

Order lead time

Material flow control

Procurement planning

Supplier performance

Supplier partnership

Quality assurance

Buying Strategies

Systems for Fraud Prevention

Subject 3 -Budget and Cost Management

Aims

This module explains to the participants the various pricing factors and methods. Once the purchasing/merchandising budget is decided, various skills, including financial, quantitative methods and negotiation skills all help in managing the budget. Corrective Actions are stressed in case deviations and variances appear.

Contents

1. The Price - determining factors

Supplier's cost

Competition

Variable Margin Pricing

Product Differentiation

2. Other Price determinants

Quantity/Quality

Transportation/Packaging

Just-in-Time (JIT) operations

Payment Terms

Potential obsolescence

Service/Technical support

3. Deciding the Budget

Cost-Volume-Profit Analysis

The Fixed budget

Variable budget

4. Cost Management

Understanding fixed & variable costs

Cash Flow Analysis

Cost elements in

Piece meal purchasing

EOQ purchases

Bulk purchases

Budget, Actual and Variances

Corrective Actions

5. Negotiation Skills

Understanding your needs

Understanding their needs

Win/Lose negotiation

Win/Win negotiation

China's negotiation style

Negotiating with China partners

Subject 4 -Information Technology and Purchasing

Aims

This module will illustrate to participants the capability of Computers and Information Technology in assisting purchasing/merchandising personnel. It explains the whole process of planning and developing the computerized systems. Implementation steps are elaborated in full. The trend of using EDI and Internet in purchasing/merchandising functions is also stressed.

Contents

1. The Trend

Electronic Data Interchange (EDI)

E-Tendering, E-Cataloguing, E-Payment

Types of Computerized Systems

Purchasing Databases

Management Reporting Systems

Purchasing Application Systems

Decision Support Systems

Distributed Processing Systems

Steps in developing a Computerized System

Components of a Computerized System

Cost Saving due to Computerization

Implementation issues of Computerization

Merchandise data exchange through Internet

Purchasing/Merchandising through the Internet

Subject 5 - Logistics Management

Aims

This module examines in-depth the costs and tradeoffs in logistics level and customer satisfaction. It includes the discussion of various logistics systems - materials management, warehousing, channel and network distribution, transport, order processing and administrative supports. It finally discusses the logistics of disposal of scrap, surplus, obsolete and hazardous materials.

Contents

Materials Management

Purchasing Forecast -MRP

Inventory Management

Store Management

Stock Checking and Stocktaking

Safety Stock Level & Reorder Point

Assembling, Packing & Issuing

Channel and Network Logistics

Distribution Channel Logistics

Distribution Network Logistics

Transport System & Routing

Administrative Supports

Logistics & Customer Service

Quality Assurance of Logistics

Performance evaluation

Cost evaluation

Customer Satisfaction

Logistics in Management of Scrap & Surplus

Disposition of Scrap, Obsolete & Hazardous Materials

Logistics in China

Infrastructure - port, rail, road

Customs

Advantage of Free Trade Area

Purchasing/merchandising logistics between Hong Kong and China

Subject 6 - Law of Buying and Selling of Goods

Aims

The legal aspects involved as a purchasing/merchandising personnel is clearly illustrated. The essence of forming a legal binding contract, the proper acts, rights and liabilities of a purchasing/merchandising agent are explained. Legal ownership and discharge of different types of existing and future goods are related to participants' day-to-day job.

Contents

1. Introduction and Comparison of HK and PRC Legal Systems

HK and PRC legal systems

Practical issues between HK and PRC laws

2. Law of Contract

Capacity

Express terms & Implied Terms

Specialty & Simple Contracts

Misrepresentation

Conditions and Warranties

Discharging & Enforcing Contracts

Liquidated & Agreed Damages

3. Law of Agency

Basic Rules of Agency

Duties of the Agent

Duties of the Principal

Ratification of the Contract of Agency

Liability of Agent and Third Party

Termination of the Contract of Agency

4. Purchase and Sales of Goods

Legal Ownership

Sale and Agreement to Sell

Existing and Future Goods

Specific and Unascertained Goods

Problems relating to Title

Unconditional Appropriation

Discharge by Mistake or Frustration

Buyer and Seller Protection

Insurance

Rights & Duties of Carriers

Claims against carriers for loss, damage & delay

Task 3

Construct Contingency Plans

Objectives of the plan

Facilitate timely recovery of session arrangement.

To protect the well being of attendees.

Minimize loss of attendees.

Maintain public image and reputation

Minimize the critical decisions to be made in a time of crisis

Construct contingency

Notice given 48 hours before the event that one of the expert speakers cannot participate.

Notice given on the day that an expert speaker is ill and cannot participate.

The failure of projection equipment during the morning session.

Recovery Strategies

Recovery strategies identified for ICT training company's equipment and services:

Sub-issue

Responsible Party

Remedial Actions Required

Notice given 48 hours before the event that one of the expert speakers cannot participate.

Project Manager /

Attendees Contact In-Charge

Prepare the information for the related attendees who are affected by the absence of the expert speakers by e-mail/phone.

Notice given on the day that an expert speaker is ill and cannot participate.

Project Manage /

Event Hosing /

Master of Ceremonies

Prepare a script for a master of ceremonies to introduce the nature of projects on the training of the merchandising and purchasing works in order to excuse for the absence of an expert speaker.

The failure of projection equipment during the morning session.

Project Manage /

Event Hosting /

Master of Ceremonies

1) Delay the training and restoration by event hosting

2) Prepare a script for a master of ceremonies to introduce the nature of projects on the training of the merchandising and purchasing works in order to excuse for the failure of projection equipment.

Script for a master of ceremonies presentation

Merchandising and purchasing works according to specifications of internal and external customers towards the common corporate goal of profitability. The aim of the training is to provide each participant with the necessary purchasing and merchandising skills - basked on sound professional knowledge and experience - to become a competent, confident and market-conscious purchasing and/or merchandising professionals. Besides, purchasing and merchandising logistics with China will be covered as mutual transactions become much more intensive since China joined the WTO. So this training is to address these professional skills is required in purchasing and merchandising operations, and to provide the practitioners into more capable, skills and confident purchasing and merchandising professionals.

Task 4

Introduction of through evaluation

Recognize the need for improvement in the teaching skills

Are given suggestions from us for improving future training

Can determine if training matches workplace needs

Training Evaluation Form

Appendix I - Training Evaluation Form

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