The ideal way of passing any exam is gathering the right set of resources and preparing with the help of proper planning strategy. As a Certified Purchasing and Material Management Professional, you will be responsible for the coordination of planning, sourcing, purchasing, moving, storing and controlling materials in an optimum manner so as to provide service to the customers at a pre-decided level and minimum cost. Certifications help you to shine bright and add value to your skillset and resume. This kind of certifications is quite challenging as they help you in figuring the right direction for you. So, let us get into details of this valuable credential.
Roles and Responsibilities
A professional is any field is held accountable for end number of activities and especially for those managed by him. A Purchasing and Material Management Professional responsible for the coordination of planning, sourcing, purchasing, moving, storing and controlling materials in an optimum manner so as to provide service to the customers at a pre-decided level and minimum cost.
Why should one take Purchasing and Material Management Professional certification?
This certification is for those who are keenly interested into the field of pricing and managing. Earning Vskills Purchasing and Material Management Professional Certification can help candidate differentiate in today’s competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.
Who should take this certification?
Any one interested in the ambit of this field is absolutely fit for obtaining this certification. This Course is intended for executives, senior executive and managers working in purchase or material management departments, wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.
Benefits of Certification
- Government Certification
- Certification valid for life
- Lifelong e-learning access
- Free Practice Tests
- Get tagged as ‘Vskills Certified’ On Monsterindia.com
- Get tagged as ‘Vskills Certified’ On
Shine.com
Certification Process
- Select Certification & Register
- Receive a.) Online e Learning Access (LMS) b.) Hard copy – study material
- Take exam online anywhere, anytime
- Get certified & Increase Employability
Exam Details
- Duration: 60 minutes
- No. of questions: 50
- Maximum marks: 50, Passing marks: 25 (50%).
- There is NO negative marking in this module.
- Online exam.
Content Outline
The exam revolves around following objectives –
Purchase Management
- Objectives of Purchasing
- Functions and responsibilities of Purchase Department
- Methods of Purchasing
- Purchase Organization Structure
- JIT Purchasing
- Agile Purchasing
- Sustainable Purchasing
- Green Purchasing
Strategic Management
- What is Strategy
- Organizational Strategy
- Strategy Development
- Strategic Management Process
- Strategic Sourcing
- Strategic Management Tools
- Strategic Role of Purchasing
- Procurement Portfolio Management
- Kraljic Portfolio Purchasing Model
Sourcing Strategy
- Sourcing Strategy Basics and Types
- Low-cost Country Sourcing
- Global Sourcing
- Offshore Outsourcing
- Outsourcing
- Sourcing Advisory
Ethics in Procurement
- What is Ethics?
- Ethics and Procurement
- Why Ethical
- Ethical Concepts and Principles in Procurement
- Unethical Practices Signs
- Unethical Practices Prevention Tools
- Ethical Procurement Requirements
Materials Management
- Objectives of Materials Management
- Functions of Materials Management
- Organization of Materials Management
- Need, Scope and Functions of Integrated Material Management
Material Planning
- Need for Material Planning
- Factors affecting Material Planning
- Tools of Material Planning
- Principles and Procedure for Material Planning
- Basic Concepts of MRP (Material Requirements Planning)
- MRP Processing
- Computer Application to MRP Process
- MRP reports – Database recording and maintenance
- Independent and dependent MRP system
Materials Budgeting
- Basic Concepts of Materials Budgeting
- Factors affecting Materials Budget
- Materials Budgeting and Accounting
Vendor Management
- Supplier Strategy
- System of Vendor evaluation
- Parameters for evaluation of Vendors Performance
- Social Audit
- Total Evaluation
- Vendor Negotiation
- Guidelines for Purchases through Tender and Negotiations
- Purchase Review
Contract Management
- Contract Definition
- Contract Elements
- Indian Contract Act
- Contract Management
- Contract Lifecycle Management
- Automating Contract Management
- Change Management
- Contract Compliance
- Procurement and Contract Management
- Purchase & Tender procedure
Material Classification, Standardisation and Codification
- Material Classification for Variety Reduction
- Basic Concepts of Codification
- Systems of Codification
- Classification by Codification
- Objectives and Scope of Standardization
- Simplification or Variety Reduction
- Levels of Standardization
Inventory Management
- Types of Inventory
- Types of Inventory Costs and Factors affecting Inventory
- Inventory Management Models
- Techniques of Inventory Control
- Inventory Performance Measurement
- Inventory Management Tools
Forecasting
- Introduction to Forecasting
- Forecasting Models
- Weighted Moving Average
- Causal Forecasting Models
- Linear Regression Analysis
- Multiple Regression Analysis
- Other Forecasting Methods
- Forecast Error
- Forecast Evaluations
- Forecast Management
Quality Management and IT
Preparatory resources for Certified Purchasing and Material Management Professional
There are unlimited resources for preparation that you can use. Cracking this exam can be difficult for the first time. But with the right set of resources and hard work you can ace the exam in one go. So, you should be very careful while choosing the resources. Make sure to pick the apt resources out of the unlimited resources available, as they will determine how well will you pass the exam. Let us look at some resources that can be beneficial –
Step 1 – Review the exam objectives
The first and foremost thing before you start preparing is to get well versed with the objectives of the exam. Exam objectives let you define the framework for preparation and the path that has to be followed in order to pass with flying colors. Knowing about the objectives of the exam is very important as the whole exam is going to revolve around the objectives. This exam revolves around following objectives –
- Purchase Management
- Strategic Management
- Sourcing Strategy
- Ethics in Procurement
- Materials Management
- Vendor Management
- Material Planning
- Materials Budgeting
- Contract Management
- Material Classification, standardization and Codification
- Inventory Management
- Forecasting
- Quality Management and IT
Refer – Purchasing and Material Management Professional Brochure
Step 2 – Hitting the books
You can choose the books that is comfortable to your reading habits and which you understand well. Books are the best valued resources and first resource that comes to our mind when we thin of preparing for any exam. You can find multiple books online or can refer to libraries and bookstores. There are even fantastic books online that can be very useful in preparation. Some books that you can refer are–
- Purchasing And Materials Management by P. Gopalakrishnan
- Purchasing And Inventory Management 1st Edition by K.S Menon and Sarika Kulkarni
Step 3 – E-Learning and Study Materials
These online classes and instructor led courses are one of the most interactive ways of preparing the exam. Learning for the exam can be fun if you have right set of resources matching your way of studying. Vskills offers you its E-Learning Study Material to supplement your learning experience and exam preparation. They are prepared by the experts of the subject matter and are reliable enough. Many reliable sites provide with the very nice instructors and excellent content for the preparation. As we all are habitual of classroom teaching, these classes can serve as close substitute with an advantage of attending the class anywhere.
Refer – Purchasing and Material Management Professional sample chapter
Step 4 – Evaluate yourself with practice tests
Your practice is an important determiner of how well you pass the exam. Take as many practice tests and test series as you can. They will help you in determining the level of your preparation, identify your loopholes and identify the weak portions you need to work more upon. There are so many reliable educational sites that provide with amazing content and help you in achieving excellence. Try a free practice test now!
Purchasing and Material Management Interview Questions
Checkout these latest online interview questions on Purchasing and Material Management to prepare for any job interview. The questions are created by domain experts, to help you to overcome the job interview obstacle.
Boost your chances to become a Purchasing and Material Management Professional. Start preparing and get a step closer to your Dream Job Now!
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