.Home » Management » Professional Certificate in Procurement and Purchasing Professional Certificate in Procurement and Purchasing Professional Certificate in Procurement and Purchasing, Professional Certificate in Procurement and Purchasing by MTF Institute. Welcome to course Professional Certificate in Procurement and Purchasing by MTF Institute Course video lessons equal to course Professional Diploma in Procurement, Sourcing, Supply Chainswith difference in articles Course provided by MTF Institute of Management, Technology and Finance MTF is the global educational and research institute with HQ at Lisbon, Portugal, focused on business & professional hybrid (on-campus and online) education at areas: Business & Administration, Science & Technology, Banking & Finance. MTF R&D center focused on research activities at areas: Artificial Intelligence, Machine Learning, Data Science, Big Data, WEB3, Blockchain, Cryptocurrency & Digital Assets, Metaverses, Digital Transformation, Fintech, Electronic Commerce, Internet of Things. MTF is the official partner of: IBM, Intel, Microsoft, member of the Portuguese Chamber of Commerce and Industry, and resident of the incubator "The Fintech House of Portugal". MTF is present in 208 countries and has been chosen by more than 400 000 students. What are Procurement and Sourcing? Procurement: The overarching process of acquiring goods and services that a company needs for its operations. It goes beyond simply buying things; procurement covers: Identifying needs Negotiating contracts Ordering Receiving goods/services Sourcing: A strategic part of procurement. It focuses on: Researching the market to find potential suppliers Evaluating suppliers based on cost, quality, reliability, sustainability, and risk factors Selecting the best suppliers for the business's specific needs Why is Learning Procurement and Sourcing Important for Companies and Managers? Cost Savings: Effective procurement and sourcing finds the best value for money. This directly impacts the company's bottom line. Efficiency: Streamlined processes in procurement avoid delays and bottlenecks in a company's operations. Risk Mitigation: Thorough sourcing helps identify potential risks (like supply disruptions) and proactively manage them. Competitive Advantage: Strong supplier relationships and access to quality materials or services can give companies an edge in the market. Innovation: Sourcing can help uncover new technologies, materials, or processes that boost a company's offerings. How Procurement and Sourcing Skills Build Global Careers High Demand: Companies worldwide of all sizes need individuals who understand how to source and procure effectively. Transferable Skills: The fundamentals of procurement and sourcing apply across industries and countries. Cross-Functional Collaboration: Procurement interacts with many departments (finance, operations, legal), giving a broad view of how businesses function globally
