9 Steps in Procurement (Supply Chain Basics)
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- Опубликовано: 4 июл 2024
- In today’s video, we continue learning about procurement, and we highlight the "9 steps in the procurement process"
This is all part of our Learning Logistics series where we discuss the basic Supply Chain and Logistics concepts.
I covered the definition of PROCUREMENT in an earlier episode, so feel free to go back to that one if you need a refresher, and I also covered the definition of LOGISTICS in the beginning of the series. Both videos are liked below:
• What is Procurement? (...
• What is logistics? Sup...
If you are interested in learning more about logistics and supply chain, and want to become even more knowledgeable and learn from the experts, CHECK OUT OUR COURSES: www.mvclogisticsacademy.com
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KEYWORDS: What is procurement, procurement, supply chain design, logistics videos, youtube videos about logistics, videos about supply chain, Learning Logistics show, logistics education and training, MVC Logistics Academy RUclips channel, MarvikCo Logistics LLC.
Thank Proffessor Rodriguez, I am starting a procurment position. Super excited! Thanks for sharing!
Hi there, good to hear you. Hope all is well. I'm interested in pursuing a procurement career but I have no experience. Where can I search ? Thanks
Best of luck to you! You will need some strong coffee and lots of patience, but it is a great area to be in.
Very informative. A good understanding of the 9 stages gives u the framework. Very useful for me as an auditor.
Thank you so much for your positive feedback! 🌟 I'm thrilled to hear that you found the information informative and helpful for your role as an auditor. Understanding the nine stages of the supply chain indeed provides a solid framework for assessing and optimizing processes. If you ever have more questions or need further clarification, feel free to reach out. Keep shining bright in your auditing journey, and thank you for being a part of our community! 🚀💼
Great commentary and informative. Thank you.
Glad you enjoyed it!
Highly appreciated!!!
Glad you liked it.
Thank you very much this video is very good to under stand the process for procurement.
Glad it was helpful!
Very useful and informative. Thank you so much
So glad you liked it, thank YOU for watching!
Very informative, and efficient way of reflecting a good process in Procurement. I already have the background, this help me to reflect my own experiences are in the right path. Thank you Prof Rodriguez very good insight.
Thank you so much for watching.
That’s what I love about learning and teaching, that we can reflect on our experiences and see how they apply to a concept that’s new to me, and how others have experienced it as well.
Email???
Professor you are 🎉 Your presentation is clear and concise 🤝🥰
Thank you so much for your kind comment 😄
Wonderful information ❤️
Thank you for your comment
Your videos are very insighful and you have an excellent information delivery skills that reflects how good of a professor you must be. Keep going!
Thank you so much for your kind comment, that makes the hard work put into these videos worth it to know you enjoyed it.
Thank you for sharing
Thanks for watching!
Excellent video. Thanks
Thank you so much for your kind words! 🌟 I'm thrilled to hear that you enjoyed our video. Your support means the world to us! If you have any questions, suggestions, or topics you'd like us to cover in future videos, feel free to let us know. We're here to make content that you love. Stay tuned for more exciting videos, and thanks again for being a part of our community! 😊🎥🚀
Thank you!
you are welcome!
Good clear explanation 👍😊 I have brushed up the process after seeing your video👍
Everyone of my colleagues calls me as professor but you are real professor 🙏 Sharing knowledge is caring 🙏🙏 Thank you 😊
Thank you so much for your kind words and positive feedback! 😄🙌 It brings me so much joy to hear that you found my explanation clear and that you were able to brush up on the process after watching the video. Being called "Professor" by your colleagues is such an honor, and I'm thrilled to be considered a "real professor" in your eyes. Sharing knowledge is indeed caring, and I'm passionate about spreading valuable insights in the world of supply chain and logistics. 🎓🌍 Thank you for your support and appreciation. Keep learning and growing, and remember, knowledge is power! If you have any more questions or topics you'd like me to cover, feel free to let me know. Stay tuned for more exciting content! 🙏✨
@@MVCLogisticsAcademy Yes, Could you please upload 6 steps in sourcing, and how to find out suppliers in global for any one of the category example and it's challenging. How to select suppliers, How to benchmark, How to evaluate. I believe this will help me and others to upskill the sourcing knowledge 😊.
@@MVCLogisticsAcademy Thank you too for the words 😊🙏
Very good information well delivered
Thank you for your kind comment 🙂😊
Thanks
great video. very informative, thanks for sharing.
Thank you so much for your awesome feedback! 🌟 I'm thrilled to hear that you found the video informative and valuable. It's our pleasure to share insights and knowledge with our amazing community. Your support means the world to us, and we're grateful to have you with us on this journey of learning and discovery. Stay tuned for more great content coming your way! 🚀✨
This was quite helpful madam.. Thank you
My pleasure 😊
Thank you for confirming my understanding of the procurement process. I completed all of these tasks on the military.
Wow, that's incredible! 🌟 Thank you for sharing your experience with us. It's amazing to hear that you've already mastered the procurement process, especially in such a dynamic environment like the military. Your skills and expertise are truly commendable! 💪🎖️
If you have any more insights or experiences you'd like to share, we'd love to hear them. Keep up the fantastic work, and thank you for your service! 🚀🙌
Nicely explained professor
Thank you so much for your kind words! 🌟 I'm thrilled to hear that you found the explanation helpful. Your support means a lot to us, and we're here to provide even more valuable insights and content. If you have any more questions or topics you'd like us to cover, feel free to let us know! 🚀📚
thank you so much
You're welcome!
Kindly make a video on pricing
Thank you, you angel
Any time!
Im trying to dive into procurement qnd supply chain, watching ur videos make me feel prepared already
I will like to know if there are course or training to do to enhance my knowledge
Thanks
Absolutely! I'm thrilled to hear that our videos are helping you feel more prepared to dive into procurement and supply chain! 🌟 To enhance your knowledge further, I highly recommend checking out our "Supply Chain Career Development Masterclass"! It's designed to take your understanding to the next level and equip you with valuable insights and skills for a successful career in this dynamic field.
In this masterclass, we cover everything from the fundamentals of supply chain management to advanced strategies, industry trends, and practical tips that will help you excel in the world of procurement and supply chain. 🚀💼
By enrolling in our masterclass, you'll gain access to expert-led lessons, real-life case studies, and valuable resources that can truly elevate your understanding and career prospects in this industry. Don't miss this opportunity to expand your knowledge and take your skills to new heights! ✨
Thank you for your interest, and I'm excited for you to join us on this learning journey! Feel free to reach out if you have any questions. Link is below to enroll in our "Supply Chain Career Development Masterclass" today and unlock your potential in this fascinating field! 🎓🌐
pensight.com/x/mvclogisticsacademy/course/b5bc34ce-c211-4048-b489-3cf618ce9e49
What are the degree options for supply chain logistics and procurement and what’s the most practical or adaptable
Hey there! 🌟 Great question! There are several degree options for supply chain logistics and procurement, including Bachelor of Science (B.S.), Master of Science (M.S.), and Master of Business Administration (MBA) programs. Each has its own focus and depth of study, so it really depends on your career goals and interests.
In terms of practicality and adaptability, many professionals find that a Bachelor of Science in Supply Chain Management provides a solid foundation in the field. This degree typically covers a wide range of topics, including logistics, procurement, operations management, and supply chain strategy. It equips you with the knowledge and skills needed to excel in various roles within the supply chain industry.
However, it's important to consider your long-term career aspirations and the specific requirements of the roles you're interested in. For some positions, such as senior management or specialized roles, a Master's degree or MBA may be preferred or even required.
Ultimately, the most practical and adaptable degree option is one that aligns with your career goals, interests, and the specific demands of the industry. I hope this helps, and I have a great free resource on my links called "Career and Life Assessment" and linked below as well! 😊🚀
pensight.com/x/mvclogisticsacademy/new-digital-item/d299dccc-6b39-40d4-85b2-1e2a43bd2fb6
very good
Thank you Abu 🙂
Could you prepare one video for what are the common questions ask in the procurement job interview and what answer can tell or one mock interview ?
Absolutely! That's a great idea for a video topic! 🌟 Exploring common questions asked in procurement job interviews and providing examples of ideal responses can be super helpful for anyone preparing for such interviews.
In the video, we'll cover a range of typical questions that often come up in procurement job interviews, such as inquiries about negotiation skills, vendor management, cost-saving strategies, and ethical considerations. Plus, we'll dive into how to craft strong, impactful responses that showcase your expertise and suitability for the role.
Additionally, conducting a mock interview is a fantastic way to demonstrate real-life scenarios and practice answering these questions effectively. We'll simulate a procurement job interview, offering insights on how to tackle each question confidently and professionally.
Stay tuned for this upcoming video! It's going to be packed with valuable tips and guidance to help you ace your next procurement job interview. 😊🎥🌐 If you have any specific questions or scenarios you'd like us to cover in the video, feel free to let us know! Your success in nailing that interview is our priority! 🚀📝
Professor Rodriguez, after working for 26 years in the supply chain field, mostly procurement & purchasing area (from IT company to a Goverment officer now) i do have many years of experience, and i feel i have all this knowledge but never thought of how to organize it, summarize it or capitalize it. what would be your advice for somebody at this stage of the Procurement career. Mostly due to ADHD My brain is like a messy desk, on where only I know where to find the answer.
Hey there! 🌟 Wow, 26 years in the supply chain field, that's impressive! 🎉 It sounds like you've got a treasure trove of experience and knowledge up there. Organizing it all can definitely feel overwhelming, especially with that "messy desk" analogy (I feel you! 😄).
Here's my advice based on some things that have worked for me as well:
-Mind Mapping: Try mind mapping your experiences and knowledge. Start with a central idea (like "Procurement Career") and branch out into different categories (like Negotiation Skills, Supplier Management, etc.). This visual approach helps me see the big picture, and then make connections with other pieces floating in my thoughts that connect to each other.
-Journaling: Consider keeping a journal where you jot down key insights, lessons learned, and successful strategies. This has helped me organize my thoughts and create a valuable reference for myself later on when I need to create content or lessons. I like doing it digitally on OneNote and Notion (I am a newbie on Notion, but I like learning about it on RUclips more recently)
-Mentoring: Share your knowledge and mentor others in the field. For me, teaching someone else also helps me clarify my own thoughts and insights, and I like getting feedback from others and bouncing back ideas with them.
-ADHD-Friendly Tools: There are some great apps and tools out there designed to help organize thoughts and ideas. Like I mentioned before, Notion and OneNote are great, but there are also tools like Trello, Asana, and Evernote. The point is in creating a system that makes it low effort to organize your ideas and notes that you like using so you can keep using it.
I hope that helps, and thank you for sharing your unique perspective and experience because they are valuable assets we can all learn from! 😀
Would you suggest the ideas how to drive a cost reduction activity with suppliers?
Sure thing. As I am sure you are aware and why you might be asking this question, driving cost reduction activities with suppliers is an important aspect of supply chain management. I can give you a short list of ideas to consider when aiming to achieve cost savings when dealing with suppliers:
1) Try to engage in negotiations with suppliers to explore opportunities for price reductions, volume discounts, or improved payment terms. When you leverage your purchasing power and market knowledge to secure more favorable pricing agreements, you are putting your hard-earned money to work for you instead of against you.
2) You can try to consolidate your supplier base to gain economies of scale and increase your bargaining power. When you reduce the number of suppliers and consolidating volumes, you may be able to negotiate better prices and reduce transaction costs throughout your operations.
3) Something that large corporations do, and I wish more small businesses did as well, is to implement a competitive bidding process where multiple suppliers are invited to submit proposals or quotes. This encourages suppliers to offer competitive pricing and terms, providing you with leverage to negotiate better deals. And who doesn't want a better deal? lol
4) Be willing to negotiate long-term contracts or partnerships with suppliers to secure stable pricing and terms over an extended period. This provides both of you with greater visibility and stability, which enables better cost planning and potential savings.
5) We are living in the age of AI and tech, so try to embrace technology solutions, such as supply chain management software, that facilitate better collaboration, communication, and data exchange with your suppliers. Automation and streamlined processes can lead to cost savings and improved efficiencies, so it is worth considering.
And the most important thing I can tell you, that anything you want to do to reduce costs with suppliers, will require effective communication, collaboration, and persistence on your part. We do want to maintain a positive relationships with suppliers but we also have to look for cost savings to help out business and create a better partnership for all. Hope that helps answer your question 😊 Thank you for watching and commenting 😊
Just what I’ve been looking for! Any good resources for finding suppliers ?
Thank you for your comment, I like and have used ThomasNet, www.thomasnet.com/
But I found a great article with a list of sites that you can use to source and the PROs and CONs of each:
fitsmallbusiness.com/best-wholesale-suppliers/
Hello cel 16, what type of suppliers are you looking for please ? Suppliers searching depend on your product sectors. I will help you in supplier searching. Thanks.
Can you give as a video about kpi on recording procurement process ?
Absolutely! 🌟 That's a fantastic suggestion! Understanding Key Performance Indicators (KPIs) for the procurement process is super important, and I'd be delighted to create a video on that.
KPIs play a crucial role in measuring the success and efficiency of procurement activities. Exploring how to track and evaluate these indicators can really help optimize the entire procurement process. I'll get to work on putting together an insightful video that dives into various KPIs specifically related to recording the procurement process. Stay tuned for some valuable insights coming your way soon! 📈💡 If you have any more specific topics you'd like covered, feel free to let me know. Your input is always appreciated! 😊✨
Thank you so much all of ur videos.Professor could u plz explain me why you telling that let's learn Logistics although you going to explain procurement. As the information i collected and i saw in ur video aslo Logistics is a part of supply chain as like procurement. So i have been confused some times using logistics word for all process.
Thank you for your question! I completely understand your confusion, and I appreciate you bringing it up. Let me clarify the use of the term 'Logistics' in our content.
In the field of supply chain management, logistics is indeed a crucial part of the overall process. It encompasses activities such as transportation, warehousing, inventory management, and order fulfillment. Logistics focuses on the movement and storage of goods, ensuring they reach their intended destinations efficiently. When I say 'Let's learn Logistics,' we are using the term in a broader sense to cover various aspects of the supply chain. While procurement is a specific phase that deals with acquiring goods or services, logistics is the subsequent stage that ensures those goods are transported, stored, and delivered effectively.
By using the term 'Logistics' in our videos, we aim to provide comprehensive insights into the different components of the supply chain and how they work together. It allows us to discuss topics like transportation, warehousing, and inventory management, which are vital for a well-functioning supply chain.
Rest assured, I understand the distinction between procurement and logistics within the supply chain, and our content covers these topics separately as well. I appreciate your feedback, and I'll make sure to address specific aspects of the supply chain, including procurement, in future videos. If you have any more questions or need further clarification, please don't hesitate to reach out. I am here to help you navigate the exciting world of supply chain and logistics. Thank you for being a part of our community, and for watching!
Practical and essential, is there an institution of yours where I can attend online.
Hello, thank you for your kind comment. Yes, we offer Supply Chain Management Courses at www.mvclogisticsacademy.com/courses
Hello Professor
What is the difference between procurement and purchasing?
Hello Azeez, the short answer would be that purchasing is essentially transactional, focusing on managing specific orders to meet company needs. While procurement is a much broader and more complex set of processes, including establishing and maintaining supplier relationships. I’m working on a full length video with a more in depth answer to this question so stick around, thank you for commenting 🙂
Hello prof. We can request your help to give us notice about this procurement concept
Hello @koal199
I teach about these concepts in my class/courses.
Do you have online classes
Absolutely, we do! 🌟 We're thrilled to offer a range of online classes to support your learning journey. Whether you're diving into the world of supply chain management, exploring logistics intricacies, or delving into the realm of education, we've got you covered! 🚀📚
Our online classes are designed to be informative, engaging, and tailored to your needs. Feel free to explore our channel or website for more details on the exciting courses we have to offer. Here is a direct link to our open courses:
pensight.com/x/mvclogisticsacademy
Don't hesitate to reach out if you have any specific questions or if there's a particular topic you're eager to learn about. Thank you for watching, and hope to see you in one of our courses🎓
I am sorry but I believe you are reading word by word,of what is written. I wish you could explain in your own way.
I appreciate your feedback! 😊 I totally understand your perspective, and I'm here to ensure the best experience for you. Rest assured, I'm not just regurgitating text; I'm here to provide personalized and insightful responses, but it does help me stay on track to have a print out of what I want to cover in each video, otherwise these videos would be 2 hours long!
If you have any specific questions or topics you'd like me to elaborate on in my own words, feel free to let me know! Your input helps me improve and tailor our interactions to better suit your needs. Thanks for being part of our community! 🌟
Could you please summarise them In the comment ?
Sure thing, here you go,
1. Identify which goods and services the company needs.
2. Submit purchase request.
3. Assess and select vendors.
4. Negotiate price and terms.
5. Create a purchase order.
6. Receive and inspect the delivered goods.
7. Conduct three-way matching.
8. Approve the invoice and arrange payment.
9. Recordkeeping.