What you'll learn:
- Describe the key concepts of the Purchase to Pay process, identifying each step from procurement to payment.
- Utilize digital catalogues and shopping carts to efficiently carry out online procurement processes similar to e-commerce platforms.
- Apply best practices in purchasing to reduce overall costs and improve the efficiency of the procurement process.
- Prepare and process requisitions and approvals within a Purchase to Pay system following organizational procurement policies.
- Construct a comprehensive purchase order, detailing essential elements in both the header and line items.
- Differentiate between various types of purchase orders and implement the most appropriate type for each procurement scenario.
- Implement powerful procurement controls, including 2-way and 3-way matching, to ensure accurate and compliant purchasing workflows.
- Analyze and optimize the role of tracking orders and utilizing centralized purchasing teams to enhance buying control.
- Execute efficient payment processes to suppliers, ensuring timely and accurate financial transactions.
- Utilize ChatGPT in procurement to manage supplier information, automate order processing, and improve negotiation and renewal processes.
- Evaluate ChatGPT's limitations in procurement, ensuring that its application is both effective and efficient.
- Predict supplier performance and market trends using ChatGPT, aiding in strategic procurement decision-making.
- Forecast procurement needs and optimize inventory through advanced analysis and data management with ChatGPT.
- Enhance supplier communication and collaboration by leveraging chatbot technology for more effective partnership management.
- Use ChatGPT to manage internal procurement communications, reducing errors and improving department efficiency.
- Implement ChatGPT in a procurement environment to ensure compliance with regulatory requirements and identify supply chain risks.
- Apply ChatGPT to ensure ethical and sustainable procurement practices, emphasizing social responsibility in the supply chain.
- Integrate ChatGPT into procurement operations, avoiding common pitfalls and adhering to best practices for technology adoption.
- Investigate emerging trends and innovations in ChatGPT applications within procurement, preparing for future technology integrations.
- Develop a flexible and productive personal mindset to enhance performance and productivity in procurement tasks and responsibilities.
Get instant access to a stunning 41 page procurement guide plus worksheets, follow along, and keep for reference
Introduce yourself to our community of students in this course and tell us your goals
Encouragement and celebration of your progress every step of the way: 25% > 50% > 75% & 100%
Over 1 hour of clear and concise step-by-step instructions, lessons, and engagement
What others are saying:
"He summarized the whole process from start to finish. Even if you've never purchased before you will be confident you're using industry best practices." - Elizabeth C.
"Peter Alkema is the best. This course hit home at all levels of my understanding. I related to everything that Peter spoke about in this course as we have implemented Oracle in 2014 and we are currently on the 1 platform cloud journey. I head up the Buyers team in Procurement and this all made absolute sense to me. Lovely course- I highly recommend it!!" - Amina B.
"The creator of the course explained overall concept of procurement in well manner and the content will leads ourself to get learn more about procurement and chain supply management." - Yash G.
"I couldn't even imagine that someone could explain the P2P process with that much deeper knowledge." - Omkar S.
"The high-level Procure to Pay process is well explained. Also, a good summary is provided on each activity." - Maulik B.
Learn how companies manage the crucial purchase-to-pay process in their operations and why it is so important for global supply chains. Take your procurement knowledge to the next level by understanding all the key concepts of operational procurement and how they can be improved to manage spending and compliance. An introductory whiteboard lesson explains all the key concepts you need to know about purchase-to-pay in one place. There is a handy workbook that you can use to capture all the learnings and apply what you have learned so that you can take your performance to the next level. There's also an overview lesson that I teach from a whiteboard so you have all the key concepts explained in one place before you go into the detailed lessons.
What you will learn:
How purchasing spend is either channel or supplier compliant
Catalogs, how they are managed, and why they are an important part of e-procurement
Supplier portals, electronic purchase orders, and invoice verification
What UNSPSC means and why it is a common system of product classification
How mature purchasing activity usually shows an increase in the number of purchase orders
What a limit order is and how it is used for commodities that cannot be cataloged
Training procurement users using either project-based or business-as-usual methods
Why it is important to link procurement system access to user training certification
The importance of the purchase order number and why the supplier must quote it on their invoices
Purchase order header and line item information
Three-way matching and two-way matching and how to document cross-checking controls purchasing
Centralized buying can be more efficient, especially when employees are too busy to use purchasing systems
Good practice requires the efficient tracking and management of goods distribution from supplier to customer
How a central payments department receives invoices and makes payments using automated invoice scanning
This is one of the most comprehensive overviews of the full purchase-to-pay value chain. Take advantage of having all these concepts clearly explained for you to gain the insights you need to gain procurement mastery.
Contents and Overview
You'll start with Learn About The Types Of Spend Compliance: Supplier, Channel, Non-Compliant; Grasp Key Concepts Similar To E-Commerce Like Catalogues And Shopping Carts; Understand Efficient Purchasing And How Good Practices Reduce Overall Costs;
We will also cover Learn All About How Requisitions & Approvals Work In Purchase To Pay; Improve Your Procurement Training To Drive World Class Purchase To Pay Practices;
This course will also tackle Learn About The Anatomy Of A Purchase Order: What Goes In The Header; Learn About The Anatomy Of A Purchase Order: All About The Line Items Level Info; There Are Different Types of Purchase Orders: Master Them In This Lesson; Learn All About Powerful Procurement Controls Such As 2-Way and 3-Way Matching; Tracking Orders And Centralised Purchasing Teams To Improve Control Of Buying; Making Payments To Suppliers;
You'll get premium support and feedback to help you become more confident with finance!
Our happiness guarantee...
We have a 30-day 100% money-back guarantee, so if you aren't happy with your purchase, we will refund your course - no questions asked!
We can't wait to see you on the course!
Enroll now, and we'll help you improve your procurement skills!
Peter
