Advanced Purchasing Strategies

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In today's fast-evolving procurement landscape, success hinges on more than just securing the best price. It requires a deep understanding of the functional interrelationships that drive value across the supply chain. This webinar explores how purchasing leaders can integrate Total Cost principles, Lean/Six Sigma methodologies, supplier certification processes, and cutting-edge technologies into a cohesive, strategic approach.

Join procurement expert Michael Gozzo as he guides you through the convergence of Artificial Intelligence (AI), Automation (AA), Blockchain, and other disruptive technologies. Learn how these innovations empower organizations to gain deeper insights, automate workflows, and enhance decision-making. You’ll leave equipped with actionable strategies to build new supplier relationships, optimize end-to-end procurement processes, and position purchasing as a value-generating powerhouse in your organization.

Your Benefits for Attending:
  • Gain insight into Blockchain's role in purchasing.
  • Learn about the role that Artificial Intelligence is playing in Purchasing and why that is so important to you.
  • Understand emerging technologies and how to integrate them into your practices with customers and suppliers.
  • Understand the principles of Business Process Management and how to employ it.
  • Gain proven processes for implementing new technologies.

This webinar is a must-attend for purchasing professionals ready to modernize their approach and lead procurement into a smarter, more strategic future. You’ll walk away with the tools to innovate your role and deliver measurable impact.

Level: Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Management Services (2 hours)
Program Prerequisites: None
Advance Preparation: None

  1. Introduction
  2. Content 00:01:37
  3. Objective of Presentation 00:02:18
  4. Section One - Today’s Environment 00:03:45
  5. What Is Change? 00:03:59
  6. Successful Companies 00:05:25
  7. Section Two - Functional Leadership 00:06:23
  8. Functional Leadership 00:06:30
  9. Guidelines For Supplier Improvement Programs 00:08:21
  10. Goals & Objectives For Supplier Improvement 00:11:35
  11. Goals & Objectives Cont’d 00:14:27
  12. Goals & Objectives Cont’d 00:20:17
  13. Defining The Problem-Solving Process 00:25:29
  14. Fix vs. Solution 00:27:22
  15. Practicality 00:27:49
  16. Pareto Chart 00:28:43
  17. Section Three - Where to Begin 00:30:07
  18. Where to Begin 00:30:21
  19. Business Process Management Mission and Goals 00:30:49
  20. BPM - Value Proposition 00:32:28
  21. Section Four - The New Technologies 00:36:16
  22. Why This Push? 00:36:38
  23. What Are The Technologies 00:38:02
  24. Artificail Inteligence 00:38:49
  25. AI - Application 00:39:43
  26. Blockchain - BC 00:42:49
  27. How Blockchain Works 00:44:42
  28. Blockchain Application 00:46:16
  29. Internet of Things (IOT) 00:47:17
  30. IOT - How It Works 00:47:57
  31. IOT - Application - Intent 00:50:26
  32. Advanced Analytics (AA) 00:53:14
  33. AA Techniques 00:54:23
  34. Control Tower 00:56:46
  35. Control Tower (Cont’d) 00:59:51
  36. Control Tower (Cont’d) 01:00:50
  37. Section Five 01:01:30
  38. Spend Visibility 01:02:14
  39. Application Areas 01:03:35
  40. Section Six 01:06:44
  41. How To Implement 01:06:54
  42. Four (4) Stages 01:07:34
  43. Four (4) Stages (Cont’d) 01:10:12
  44. Six Execution Steps 01:12:29
  45. Six Execution Steps (Cont’d) 01:14:10
  46. Who Will Be Involved and Why? 01:15:59
  47. Recap 01:21:31
  48. Q & A 01:25:03
  49. Closing Remarks 01:40:25
  50. Presentation Closing 01:43:32
  • Michael W. Gozzo

    Michael W. Gozzo

    Michael W. Gozzo provides consulting and training services to all levels of management and is a Supply Chain Specialist including Purchasing (Supplier Collaboration), Inventory Control and Production/Operations Management.  With many years of practical international experience, he offers a supe [...]

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For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or [email protected].

You must answer all questions during the webinar, view the recording completely and pass the test at the end with 70% correct answers to receive CPE credit.

ISM Credit

Institute of Supply Management

This program may be used for Continuing Education Hours (CEH) toward recertification for programs offered by the Institute for Supply Management®, including the Certified Professional in Supply Management® and Certified Professional in Supplier Diversity®.

QPANJ Credit

Qualified Purchasing Agent - New Jersey

ATAPU Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in purchasing.
  • 80-20 Pareto Rule 00:29:46
  • Advanced Analytics (AA) 00:38:22, 00:53:20, 01:09:10
  • Artificial Intelligence (AI) 00:38:13, 00:38:56, 00:42:43, 01:09:08
  • Benchmarking 00:09:59
  • Blockchain 00:38:13, 00:42:57
  • Business Process Management 00:30:36, 00:32:36, 00:35:09
  • Commodity 01:14:10
  • Contract 00:46:26
  • Control Tower (CT) 00:38:27, 00:57:05, 01:00:54
  • Cost 00:17:50, 00:22:37, 00:23:39
  • Decentralized Autonomous Organizations (DAOs) 00:46:19
  • Forecast 00:15:42, 00:54:37
  • Internet of Things (IOT) 00:38:16, 00:47:27, 00:50:02
  • Inventory 00:18:49, 01:19:59
  • Invoice 01:02:57
  • Lead Time 00:16:10
  • Pareto Analysis 00:28:50, 01:02:38
  • Procurement 00:02:12, 00:06:40, 01:02:04, 01:09:19, 01:12:52, 01:18:57, 01:22:13
  • Purchase Order 01:02:54
  • Supplier 00:05:16, 00:09:03, 00:12:38, 00:19:34, 00:23:40, 00:30:40, 00:34:12, 00:48:16, 01:03:56, 01:18:38
  • Supply Chain 00:07:10, 00:14:53, 01:00:02
  • Total Quality Management (TQM) 00:21:31
  • Value Analysis 00:22:13

80-20 Pareto Rule: The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.

Advanced Analytics (AA): Advanced Analytics is the autonomous or semi-autonomous examination of data or content using sophisticated techniques and tools, typically beyond those of traditional business intelligence (BI), to discover deeper insights, make predictions, or generate recommendations.

Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.

Benchmarking: A process of comparing the performance of a procurement function with that of its best competitor or the best organization in its industry.

Blockchain: Blockchain.com is a Bitcoin block explorer service, as well as a cryptocurrency wallet supporting Bitcoin, Bitcoin Cash, and Ethereum. They also provide Bitcoin data charts, stats, and market information.

Business Process Management: Business process management is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business processes is BPM.

Commodity: A basic good used in commerce that is interchangeable with other goods of the same type.

Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.

Control Tower (CT): A procurement control tower is a modernized, centralized procurement nerve-center. This location acts as a solution designed to unify procurement systems, data, and multiple enterprises within a secure and cloud-native environment.

Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location

Decentralized Autonomous Organizations (DAOs): A decentralized autonomous organization (DAO) is an emerging form of legal structure that has no central governing body and whose members share a common goal to act in the best interest of the entity.

Forecast: A method used to predict inventory levels for a future time period.

Internet of Things (IOT): The Internet of things describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communications networks.

Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.

Invoice: An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice.

Lead Time: The number of days from when a company places an order for supplies, to when those items arrive.

Pareto Analysis: Pareto analysis is a formal technique useful where many possible courses of action are competing for attention. In essence, the problem-solver estimates the benefit delivered by each action, then selects a number of the most effective actions that deliver a total benefit reasonably close to the maximal possible one.

Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.

Purchase Order: A legal contract between a buyer and a vendor. It lists the materials or services to be purchased on specified terms and conditions (quantity, price / pricing conditions, delivery date).

Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.

Supply Chain: A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.

Total Cost of Ownership (TCO) : Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs

Value Analysis: The systematic and critical assessment by an organization of every feature of a product to ensure that its cost is no greater than is necessary to carry out its functions.

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Frequently Asked Questions

Today's procurement leaders are moving beyond transactional buying toward strategic, technology-enabled approaches that create measurable organizational value. Total Cost of Ownership (TCO) analysis replaces unit price focus with a full lifecycle view of supplier relationships. Lean and Six Sigma methodologies apply waste reduction and process improvement thinking to procurement workflows, eliminating non-value-added steps in sourcing, ordering, and supplier management. Supplier certification and development programs build collaborative relationships that improve quality, reduce lead times, and create innovation partnerships. Business Process Management (BPM) provides a disciplined framework for mapping, analyzing, and continuously improving procurement processes. Advanced Analytics transforms spend data into actionable insights—identifying savings opportunities, demand patterns, and supplier performance trends that were previously invisible. Technology integration—AI, blockchain, and IoT—is reshaping how procurement teams operate, predict, and automate. Aurora Training Advantage's Advanced Purchasing Strategies webinar with supply chain specialist Michael Gozzo covers all of these strategic approaches, providing procurement professionals with the tools to modernize their function and deliver measurable value.
Artificial Intelligence is fundamentally reshaping procurement across every stage of the purchasing lifecycle, from demand forecasting to supplier selection to contract management. AI-powered spend analytics tools automatically categorize and analyze purchasing data at a level of granularity that was previously impractical, surfacing savings opportunities, compliance gaps, and demand patterns that human analysis would miss. Machine learning models predict demand more accurately than traditional statistical methods, reducing both stockout and overstock costs. AI-assisted sourcing platforms identify and qualify new suppliers, score proposals, and recommend optimal supplier combinations based on cost, risk, and performance criteria. Natural language processing enables contract analytics tools to extract key terms, obligations, and risks from thousands of contracts automatically, supporting compliance monitoring and risk management at scale. In procure-to-pay automation, AI-driven invoice processing eliminates manual data entry and accelerates approval workflows. Chatbots handle routine purchasing requests and status queries, freeing procurement staff for higher-value work. Aurora Training Advantage's Advanced Purchasing Strategies webinar with Michael Gozzo covers AI applications in procurement in depth, alongside blockchain and IoT, helping purchasing professionals understand and adopt these transformative technologies.
Blockchain technology offers procurement and supply chain management a secure, transparent, and immutable record-keeping system that addresses some of the most persistent challenges in supplier relationships and transaction management. At its core, blockchain creates a distributed ledger where every transaction—purchase order, shipment, payment, certificate of origin—is recorded in a block that is cryptographically linked to the previous one, making it tamper-proof and auditable by all authorized parties simultaneously. In procurement, this enables real-time, multi-party visibility into supply chain events without relying on a single trusted intermediary. Smart contracts—self-executing code embedded in the blockchain—can automatically trigger payments when predefined delivery conditions are verified, reducing payment delays and disputes. For regulated industries, blockchain provides an unbreakable chain of custody for quality certifications, product authenticity, and compliance documentation. Supplier fraud and counterfeit components are significantly harder to introduce into a blockchain-managed supply chain. Aurora Training Advantage's Advanced Purchasing Strategies webinar with Michael Gozzo provides a practical overview of how blockchain works and its real-world applications in procurement and supply chain management.
Business Process Management (BPM) is a disciplined approach to identifying, modeling, analyzing, improving, and automating business processes to enhance efficiency, quality, and compliance. In purchasing, BPM provides a structured methodology for examining every step in the procure-to-pay cycle—from need identification and requisition through sourcing, ordering, receiving, and payment—and systematically eliminating waste, delays, and redundancies. The BPM lifecycle begins with process discovery: mapping current-state workflows to make them visible and measurable. Process analysis identifies bottlenecks, exception rates, cycle times, and handoff failures that create cost and delay. Redesign and improvement work eliminates non-value-added steps and standardizes best practices. Automation through procurement platforms and workflow tools executes the redesigned process with greater speed and consistency than manual methods. Monitoring and continuous improvement close the loop, using process performance data to identify the next improvement cycle. BPM applied to purchasing consistently yields reductions in purchase order cycle times, invoice processing costs, and compliance failures. Aurora Training Advantage's Advanced Purchasing Strategies webinar covers BPM mission, value proposition, and implementation framework with practical guidance from Michael Gozzo.
Supplier improvement programs represent one of the highest-leverage strategies available to procurement leaders, transforming transactional vendor relationships into collaborative partnerships that drive quality, innovation, and supply chain resilience. A formal supplier improvement program begins with segmentation: classifying suppliers by strategic importance, spend, and risk to prioritize where investment of management time and resources will yield the greatest return. For critical and strategic suppliers, joint improvement initiatives address quality defects, delivery performance, lead time reduction, and cost competitiveness using Lean, Six Sigma, or other structured problem-solving methodologies. Regular business reviews—focused on scorecard metrics and forward-looking improvement plans—replace reactive complaint-handling with proactive performance management. Capability development investments—sharing engineering expertise, process technology, or training—build supplier capability that directly benefits the buying organization. Preferred supplier status, volume commitments, or early payment terms create reciprocal incentives for supplier investment. The Pareto principle applies here: focusing improvement resources on the 20% of suppliers that represent 80% of spend or risk creates disproportionate returns. Aurora Training Advantage's Advanced Purchasing Strategies webinar with Michael Gozzo provides a proven framework for building and managing supplier improvement programs that deliver sustained competitive advantage.