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Procurement Management (Udemy.com)

An Ultimate Guide to Procurement / Purchase Management for Managers, Engineers, Entrepreneurs and Students

Created by: Avik Munshi

Last updated March 2026

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What you will learn

  • Making Buy or Build Decisions
  • Supplier Evaluation
  • Economic Order Quantity and Re-ordering
  • Work Breakdown and Resource Calendar
  • Types of Procurement Contracts
  • Contract Terms and Documents
  • Delivery Terms - Incoterms
  • Procurement Activities and Documents
  • Working Capital, WACC, Business Cycle
  • Basics of Dispute Resolution
  • Earned Value Management
  • Risk Management

How it compares

Against the other 1,210 rated Udemy courses in Business on CourseDuck:

  • Rating4.4 out of 5higher than 27% of them
  • Reviews7,911#106 of 1,211 by number of reviews
  • Length8.8 hourslonger than 86% of them
  • Last updatedMarch 2026more recently than 63% of them

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Course Description

Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success.   

To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement.

For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel.


What will you learn through your investment in these 6 hours of Lecture?

  • Item classification

  • Management Terminology.

  • Build vs Buy Decisions


  • Market conditions

  • State of supply chain.

  • Criteria for Supplier Selection

  • Methods for Supplier Evaluation


  • Work packages and work breakdown

  • Resource breakdown and resource calendar

  • Basics of Change Management


  • Understand the term contract

  • Types of contracting arrangements

  • Impact of Project environment and Organization type. 


  • Various purchase documents

  • Standard terms in procurement contracts

  • Limitation of Liability - Delivery terms; Incoterms. 


  • Identifying and working with stakeholders

  • Preparing for procurement and documents

  • Procurement process and contract administration.

  • EVM - Earned Value Management


  • Basics of risk and business continuity

  • Systematic approach managing risks


  • Basics of Claims and Dispute Resolution

  • Closing and Termination of Procurement


  • Procurement Costs

  • Economic Order Quantity

  • SLA - Service Level Agreements

  • Re-ordering - Fixed Order Interval, Fixed Order Quantity


  • Working Capital

  • Business Cycle

  • Managing Working Capital

  • 7Rs of Procurement


Also, with a quiz in each section - total of 8 Quizzes

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Instructor Details

Avik Munshi

Bootstrapped Consulting firm, now Bootstrapping a Business

Qualifications and  Certifications
MBA 
from Indian Institute of Management - Bangalore (IIMB)
B Tech (Hons)
 - Civil Construction from CEPT University

CFA Level 1 - Cleared
Lean Six Sigma Green Belt, KPMG
PMP®, PMI - Project Management Professional
VIL-VCU, SSVV - Safety for Intermediaries and Supervisors
Independent Director, Indian Institute of Corporate Affairs

Mr. Munshi has worked across industries including plastics, construction, chemicals, engineering, apparel, fitness, and real-estate. He specializes in entrepreneurship, management, and finance; and has worked with agile start-ups as well as conventional enterprises.

His academic involvement and consulting experience has developed him a unique skill-set, knowledge, and multi faceted perspective necessary for solving complex management challenges.

His consulting engagements have enabled funding and decisions for multi-million dollar business projects, and organizational transformations through business process re-design. His papers have been published by national magazines and presented at international conferences.

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Reviews

4.4

7,911 ratings on Udemy

Select a bar to show only those reviews.Select the bar again to show every rating.

By Idowu Alli on 7/29/2026

I learnt a lot from the course online and I would love to have more practical experience on the part of procurement process

By John Pinder on 6/3/2026

I'm enjoying the course, it has much more detail than expected, and it's a good fit for me.

By Rameshkumar Anga on 5/2/2026

I recently completed "An Ultimate Guide to Procurement / Purchase Management for Managers, Engineers, Entrepreneurs and Students," and it is truly an exceptional resource. Whether you are a professional looking to sharpen your skills or a student entering the field, this guide provides a clear and actionable roadmap. Why This Guide is a Must-Read: Holistic Ecosystem View: It does a fantastic job of explaining how the procurement ecosystem functions as a whole, rather than just looking at isolated tasks. Cost & Price Optimization: The strategies provided for optimizing costs and understanding pricing structures are practical and easy to implement in real-world scenarios. Strategic Risk Management: One of the strongest sections is the focus on risk. It shifts your mindset from being reactive to being proactive, helping you identify and mitigate potential issues before they impact the project. Pricing Concepts: The deep dive into strategic pricing concepts provides a competitive edge for any manager or entrepreneur. Verdict: This guide is highly recommended. It bridges the gap between technical engineering requirements and business management goals perfectly. Thank you for such an insightful resource!

By Uchenna on 4/17/2026

My experience has been very interesting and revealing. I'm enjoying every part of it.

By Kyra Sweares on 3/17/2026

The tests appear to be below expectations. The descriptions and vocabulary are not clear or direct, and some of the wording feels unusual. Many of the questions seem to be fragments rather than complete thoughts or full sentences.

By Schnelle Augustine on 3/2/2026

the lecture was on day to day activities in procurement which helped to relate and understand better

By Rebecca Ayenuro on 2/11/2026

The introduction speaks greatly to what I will be learning and that for me is a booster to learn

By Vijay Sangolli on 11/18/2025

The course provided complete inside of the procurement management with very good examples.

By Christopher Smith on 11/16/2025

Overall, I found the course content to be highly relevant and well-structured. The material covered was insightful and aligned well with current procurement practices. One area that posed a bit of a challenge for me was following the audio delivery. While I appreciate the presenter's expertise, I occasionally found it difficult to stay engaged. Perhaps offering transcripts, subtitles, or alternative voiceovers could help enhance accessibility and ensure all learners can fully benefit from the material

By Felipe Carlucci on 11/8/2025

Curso com material extenso e muito completo sobre todo o processo de compras. Muito interessante a visão sobre negócios. Pude ter uma visão completa do começo ao fim de processos essenciais de uma supply chain de uma empresa.

By Asiimwe Jean on 11/15/2020

I am learning a lot and i believe the knowledge so far acquired will help improve and add on what i have been doing to make my work better and easier.

By Ashar on 11/15/2020

it's match for me

Showing 12 of 242 reviews

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Overall Score : 88 / 100