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Basics Of Smart International Procurement

Distance-Education.org

Description

Are you responsible for increasing your organization's international procurement and don't know where to begin? International procurement is a challenge. Buying internationally is much more complex than buying domestically.

Buying internationally involves having to expand your knowledge of many aspects of procurement that you don't have to worry about when buying domestically. Differences in cultures, laws, communications, currencies, and more have to be understood to support international procurement. And if you don't have a good foundation, your international procurement efforts will have a higher probability of failing.

But the good news is that the details of successful international procurement don't have to be a mystery. The highly personal and interactive online course "Basics of Smart International Procurement" will teach you the critical things every purchasing professional needs to know before buying from foreign suppliers!

Frequently Asked Questions

How long will it take me to complete the course?

The amount of time it takes to complete the course is dependent upon the time you are able to spend in study. Each lesson takes approximately 30-60 minutes to complete and the course is comprised of 8 lessons. Students generally complete the course in 4-8 hours

Will I be able to work at my own pace?

Yes. The online format of the instruction method allows you to proceed according to your own pace. Your personal schedule governs your completion time. The material is available on demand online.

Are there any required books for the course?

No. The course is completely online and you will also receive a printer-friendly version of the course. This are included at no additional cost to you.

Can I assess what I have learned?

Yes. Each lesson has a review quiz. From there you will be able to determine if you understood the concepts or if you still need to review the materials further. You will need to score 70% or higher overall on the quizzes to successfully complete the course.


Outcomes

You will learn how to assess the cultural differences that you may experience with suppliers from different parts of the world, plus...

  • 7 key characteristics of cultural differences that you need to know to avoid any unpleasant surprises from your suppliers
  • How to determine whether international suppliers might be withholding bad news from you
  • How international suppliers differ in the importance they place on personal relationships
  • How the importance of contracts will differ among international suppliers
  • When you might face one of the worst shocks - an international supplier's request to renegotiate a contract
  • 5 critical clauses that should be included in every international procurement contract
  • 6 principles for writing contract language that is clear and ideally suited for international procurement situations
  • Tips for reducing intellectual property risks
  • How to handle communication when you and your supplier have different native languages
  • Little known facts for reducing communication misunderstandings with foreign suppliers, including the use of jokes, hand gestures, and written communications
  • How exchange rates get factored into international procurement transactions
  • How to calculate currency conversions
  • Currency risks associated with international procurement transactions
  • How hedging tools like forward contracts and options are used to protect buying organizations from cost increases3
  • ways that products are services are priced and a currency strategy for each
  • The increased significance of accurate forecasts in international transactions and how poor forecasts impact cost
  • A risk sharing formula that truly distributes risk equally between a buyer and a foreign supplier


Assessment

Evaluation of your performance will be based on

Eight (8) Individual lesson quizzes consisting of 5 questions each for a total of 40 questions

You must earn a 70% (or 28 out of 40 questions correct) or higher in order to successfully pass the course. You must earn a 70% or higher in order to successfully pass this course (28 out of 40 questions correct). Students may retake quizzes an unlimited amount of times during the 60 days they have from the time of purchase.

course quick facts
course code DED3978
cost $219.00
estimated time to
complete course
8 Hours
course materials
available
60 Days