Procurement

Course Description

Procurement is also known as purchasing management. Procurement plays a vital role in effective supply chain management. The challenges experienced by organizations are asking for diverse skill set from supply chain management students.

This course will introduce students to the essentials of the procurement process. Students will learn about the procurement operations structure, strategic sourcing, strategic sourcing process, measuring procurement process performance, global procurement and future trends.

Learning Outcomes

By the end of this course, students will be able to:

• DESCRIBE the importance of purchasing in supply chains and value chains

• EXPLAIN the purchasing process and different type of purchases made by an organization

• DESCRIBE the importance of policies and procedures

• EXPLAIN the role of cross-functional teams in promoting integration

• DESCRIBE the differences between centralized, center-led and decentralized, and forms of the purchasing organization

• DESCRIBE the category strategy process and reverse auctions

• DESCRIBE the supplier selection process and the importance of financial analysis

• DESCRIBE principles of quality management in the procurement process

• EXPLAIN supply management and development process in developing a world-class supply chain

• DESCRIBE strategic cost management process and collaborative approaches to cost control

• APPLY process analysis, value stream mapping and lean management to improve the procurement process

• DESCRIBE the importance of transportation, third-party logistics services, and supply chain information systems in procurement

• EXPLAIN key purchasing and supply chain measures and future procurement trends