Learn how purchasing audits can be beneficial to the bottom line.
The purchasing audit is used as a diagnostic process that identifies opportunities for increased profitability. The purchasing audit should be broad and systematic and serves a way of reaffirming the company objectives, determine how the current purchasing strategy is performing, and identify the areas that need immediate managerial attention. You will learn about the elements required to conduct a successful purchasing audit.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Internal vs. External Audit Criteria
Internal Auditing Criteria
- Make vs. Buy Decisions
- Strategy and Sourcing
- Supplier Relationship Management
External Auditing Criteria
- Supplier Categories
- Supplier Performance Evaluation
Outsourcing
- Purposes and Benefits of Outsourcing
- Hidden Cost Analysis
Fraud Exposure
- The Purchasing Cycle
- Administration
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 30, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
W.C. Benton, Jr.
The Ohio State University
- The Edwin D. Dodd professor of management, and professor of operations and supply chain management in the Fisher College of Business at The Ohio State University
- Teaches courses in purchasing/supply management, manufacturing planning and control, operations analysis, facility design and the business of health care to M.B.A. and doctoral candidates
- Partner in W.C. Benton and Associates, a construction management consulting firm
- Published more than 200 articles in the areas of purchasing management, inventory control, supply chain management, quality assurance, materials management and health care
- Frequent speaker and recognized operations management researcher
- Worked as a sourcing consultant for companies throughout the world, including Australia, Canada, China, India, New Zealand, Korea, Taiwan, Hong Kong, Japan, Vienna, and the United States
- Served as an expert witness for the private and public sector procurement cases
- Doctorate in operations and systems management, and quantitative business analysis, Indiana University in Bloomington, Indiana
- Can be contacted at 614-292-8868, fisher.osu.edu/people/benton.1, or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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