Overview
Description
Examines purchasing processes and decision-making frameworks. Topics addressed include: interdependencies to other corporate functions; purchasing cycles; development of material and technical specifications; supplier selection, relationship management and evaluation; supplier quality management improvement activities; capital goods and services purchasing; global sourcing; and procurement tools and analytics.
Units
Lecture3
Catalog Details
Offering
Offered: Every Fall
Terms
fall
Attributes
Standard
Learning Outcomes
- describe the strategic role of the supply/purchasing function in the supply chain for an organization, including best practices and data-based decision-making when managing sourcing, transportation, inventory management, and total cost of ownership.
- describe buyer-supplier relationships, including supplier selection, contract negotiations, relationship building, and supplier quality assurance and evaluation, for both non-profit and for-profit purchasing needs.
- evaluate sourcing and supply decisions in an international context, including ethical and legal implications, as well as for risk management.
- apply the latest research and developments in the field to real-time issues, challenges, opportunities, and decisions faced by purchasing professionals.
- collect, compare, and review procurement-spend data to identify trends, anomalies, and opportunities and apply that data to their organization’s needs and goals.
- identify and analyze data and research regarding the national and global economic environment and determine how it will affect purchasing and supply management operations.