The purchasing function has a dramatic impact on the profitability of a business, and so must be carefully managed. The Purchasing Guidebook is an essential tool for doing so, since it shows how the department's performance can be fine-tuned. The course focuses on supplier selection and management, the competitive bidding process, negotiations, and contract management. It also addresses the many ways in which purchasing can be used to control costs in the areas of inventory management, logistics, and quality, while also providing the financial tools to improve a number of purchasing decisions. In short, the Purchasing Guidebook is a required toolkit for the purchasing professional.